IAAO 300 EXAM QUESTIONS WIT
CORRECT DETAILED ANSWERS
Specification, calibration, quality assurance - Answer-Model development has what
components?
Continuous - Answer-_________ data can take any value in a given range and is often
based on measurements
binary - Answer-_________ data is qualitative items that have only two possibilities, for
example yes or no
soft - Answer-A _________ data edit produces a warning to the operator indicating the
entry may be invalid
hard - Answer-A _________ data edit precludes the operator from making certain
entries
Histogram - Answer-A _________ is a graphical representation of a frequency
distribution
95-mean - Answer-When data is normally distributed, _________ percent will be within
two standard deviations of the _________
crosstabulation - Answer-A good way to show the distribution of qualitative variables is
_________
dependent, independent - Answer-Scatter diagrams show the relationship between
_________ and _________ variables
generic/hybrid - Answer-Cost models follow the structure of the _________ models
Cost manuals - Answer-_________ should contain; replacement cost tables,
depreciation schedules, guidelines
direct - Answer-Material labor, and supervision are _________ costs
reproduction - Answer-_________ is the cost for constructing an identical structure
indirect - Answer-Insurance, architectural, and engineering fees are examples of
_________ costs.
, replacement - Answer-_________ is the cost of constructing a substitute structure of
equal utility
horizontal - Answer-Floors and roofing are examples of _________ cost components
market - Answer-depreciation schedules must reflect differences in building and
construction types and must be derived from the _________
square foot - Answer-when applying the comparative unit method, costs are expressed
on a per _________ basis
quantity survey - Answer-proper application of the _________ method requires detailed
knowledge of construction
entrepreneurial incentive - Answer-_________ is the amount one expects to receive for
his or her contribution to a project that includes risk
a. cluster analysis
b. global model with location adjustments
c. geographical stratification - Answer-The three approaches to stratification and
location analysis are:
per-unit-value - Answer-_________ analyses can be very effective for homogenous
properties
multiple regression analysis - Answer-A statistical technique used for estimating
unknown data based on known and available data is _________
MVs=Sc +/- ADJc - Answer-The formal of sales comparison model is _________
a. additive
b. multiplicative
c. hybrid (generic) - Answer-The three basic types of mass appraisal model structures
area:
additive - Answer-MVs = Bo = (b1 x X1) + (b2 x X2) + (b3 x X3) is known as the
_________ model
boundaries, physical - Answer-When geographically stratifying properties, _________
should be drawn to correspond with _________ or political boundaries
market - Answer-Broad geographic areas subject to the same economic influences are
known as _________
CORRECT DETAILED ANSWERS
Specification, calibration, quality assurance - Answer-Model development has what
components?
Continuous - Answer-_________ data can take any value in a given range and is often
based on measurements
binary - Answer-_________ data is qualitative items that have only two possibilities, for
example yes or no
soft - Answer-A _________ data edit produces a warning to the operator indicating the
entry may be invalid
hard - Answer-A _________ data edit precludes the operator from making certain
entries
Histogram - Answer-A _________ is a graphical representation of a frequency
distribution
95-mean - Answer-When data is normally distributed, _________ percent will be within
two standard deviations of the _________
crosstabulation - Answer-A good way to show the distribution of qualitative variables is
_________
dependent, independent - Answer-Scatter diagrams show the relationship between
_________ and _________ variables
generic/hybrid - Answer-Cost models follow the structure of the _________ models
Cost manuals - Answer-_________ should contain; replacement cost tables,
depreciation schedules, guidelines
direct - Answer-Material labor, and supervision are _________ costs
reproduction - Answer-_________ is the cost for constructing an identical structure
indirect - Answer-Insurance, architectural, and engineering fees are examples of
_________ costs.
, replacement - Answer-_________ is the cost of constructing a substitute structure of
equal utility
horizontal - Answer-Floors and roofing are examples of _________ cost components
market - Answer-depreciation schedules must reflect differences in building and
construction types and must be derived from the _________
square foot - Answer-when applying the comparative unit method, costs are expressed
on a per _________ basis
quantity survey - Answer-proper application of the _________ method requires detailed
knowledge of construction
entrepreneurial incentive - Answer-_________ is the amount one expects to receive for
his or her contribution to a project that includes risk
a. cluster analysis
b. global model with location adjustments
c. geographical stratification - Answer-The three approaches to stratification and
location analysis are:
per-unit-value - Answer-_________ analyses can be very effective for homogenous
properties
multiple regression analysis - Answer-A statistical technique used for estimating
unknown data based on known and available data is _________
MVs=Sc +/- ADJc - Answer-The formal of sales comparison model is _________
a. additive
b. multiplicative
c. hybrid (generic) - Answer-The three basic types of mass appraisal model structures
area:
additive - Answer-MVs = Bo = (b1 x X1) + (b2 x X2) + (b3 x X3) is known as the
_________ model
boundaries, physical - Answer-When geographically stratifying properties, _________
should be drawn to correspond with _________ or political boundaries
market - Answer-Broad geographic areas subject to the same economic influences are
known as _________
