IAAO 300
7- ✅✅-How many steps are in the general appraisal process?
95-mean - ✅✅-When data is normally distributed, _________ percent will be
within two standard deviations of the _________
a. additive
✅✅-The three basic types of mass appraisal model
b. multiplicative
c. hybrid (generic) -
structures area:
a. building type
✅✅
b. location
c. age or condition - -List three factors that should be considered when
stratifying properties or specifying models for the development of GIMs and
OARs
a. cluster analysis
✅✅
b. global model with location adjustments
c. geographical stratification - -The three approaches to stratification and
location analysis are:
a. Data collection and maintenance
b. Exploratory data analysis
✅✅-The four components
c. Model development
d. Model application, review, and reconciliation -
of the mass appraisal system are:
a. Identify the problem to be solved
b. Determine and perform the scope of work necessary to develop credible
✅✅
assignment results
c. Disclose the scope of work in the report - -The scope of work rule
three parts and they are:
adaptive estimation procedure - ✅✅ -The trial and error process for
quantifying the relationship between dependent (sale price) and independent
variables (property characteristics) is the _________
, additive -✅✅-MVs = Bo = (b1 x X1) + (b2 x X2) + (b3 x X3) is known as the
_________ model
appeal - ✅✅ -Property owners may dispute their value, and this is part of the
appeal system
array -✅✅ -The listing of data in order of magnitude (either ascending or
descending) is termed a/an
assessment system, appeal system, and collection system - ✅✅-The three
components of a Property Tax System are the
binary -✅✅ -_________ data is qualitative items that have only two
possibilities, for example yes or no
Both single-property and mass appraisal - ✅✅ -_________ are exercises in
applied economic analysis and require the use of logical, systematic methods
for the collecting, analyzing and processing of data to produce supportive,
well-documented value estimates
boundaries, physical - ✅✅
-When geographically stratifying properties,
_________ should be drawn to correspond with _________ or political
boundaries
breakdowns - ✅✅ -_________ compare statistics (usually measures of
central tendency) by strata for example average sale price by neighborhood
central tendency, dispersion - ✅✅ -in the development of GIMs, the appraiser
should first stratify the properties and then compute measures of _________
and _________ for each stratum.
classroom, field - ✅✅-data collectors should have both _______ and
______ training
cluster analysis - ✅✅-A technique that can be used to group similar
subdivisions into neighborhoods
coefficient, variation -✅✅ -The _________ of _________ expresses the
standard deviation as a percentage of the mean
7- ✅✅-How many steps are in the general appraisal process?
95-mean - ✅✅-When data is normally distributed, _________ percent will be
within two standard deviations of the _________
a. additive
✅✅-The three basic types of mass appraisal model
b. multiplicative
c. hybrid (generic) -
structures area:
a. building type
✅✅
b. location
c. age or condition - -List three factors that should be considered when
stratifying properties or specifying models for the development of GIMs and
OARs
a. cluster analysis
✅✅
b. global model with location adjustments
c. geographical stratification - -The three approaches to stratification and
location analysis are:
a. Data collection and maintenance
b. Exploratory data analysis
✅✅-The four components
c. Model development
d. Model application, review, and reconciliation -
of the mass appraisal system are:
a. Identify the problem to be solved
b. Determine and perform the scope of work necessary to develop credible
✅✅
assignment results
c. Disclose the scope of work in the report - -The scope of work rule
three parts and they are:
adaptive estimation procedure - ✅✅ -The trial and error process for
quantifying the relationship between dependent (sale price) and independent
variables (property characteristics) is the _________
, additive -✅✅-MVs = Bo = (b1 x X1) + (b2 x X2) + (b3 x X3) is known as the
_________ model
appeal - ✅✅ -Property owners may dispute their value, and this is part of the
appeal system
array -✅✅ -The listing of data in order of magnitude (either ascending or
descending) is termed a/an
assessment system, appeal system, and collection system - ✅✅-The three
components of a Property Tax System are the
binary -✅✅ -_________ data is qualitative items that have only two
possibilities, for example yes or no
Both single-property and mass appraisal - ✅✅ -_________ are exercises in
applied economic analysis and require the use of logical, systematic methods
for the collecting, analyzing and processing of data to produce supportive,
well-documented value estimates
boundaries, physical - ✅✅
-When geographically stratifying properties,
_________ should be drawn to correspond with _________ or political
boundaries
breakdowns - ✅✅ -_________ compare statistics (usually measures of
central tendency) by strata for example average sale price by neighborhood
central tendency, dispersion - ✅✅ -in the development of GIMs, the appraiser
should first stratify the properties and then compute measures of _________
and _________ for each stratum.
classroom, field - ✅✅-data collectors should have both _______ and
______ training
cluster analysis - ✅✅-A technique that can be used to group similar
subdivisions into neighborhoods
coefficient, variation -✅✅ -The _________ of _________ expresses the
standard deviation as a percentage of the mean
