IAAO 300 FINAL EXAM STUDY GUIDE ||
2025/2026 VERIFIED EXAM QUESTIONS &
CORRECT DETAILED ANSWERS ||
GUARANTEED SUCCESS
1. data inventory - ANSWER A _________ manual should explain how to collect and
code data thus ensuring greater uniformity among appraisers
2. consistency - ANSWER A _____ edit makes certain that the number of bedrooms
does not exceed the total room county or the square footage of the basement is not greater
than the square footage if the finished area
3. subjective - ANSWER _____ data are items where the proper value is a matter of
judgment and more difficult to verify
,4. quantity - ANSWER relates to the completeness of the available data or what must be
collected to capture local market influence
5. classroom, field - ANSWER data collectors should have both _______ and ______
training
6. array - ANSWER The listing of data in order of magnitude (either ascending or
descending) is termed a/an
7. histogram - ANSWER The charting of a frequency distribution using a ______
illustrates the extent to which sales ratios are in a normal (bell-shape) distribution
8. range, quartiles, percentiles, standard deviation, coefficient of variation - ANSWER
List five common measures of dispersion
9. Crosstabulations - ANSWER _________ show the distribution of values for two
binary or discrete variables
,10. scatter diagrams - ANSWER _________ show the relationship between two
quantitative variables with the dependent variable placed on the vertical axis and the
independent variable placed on the horizontal axis
11. polygon - ANSWER A ______ can be used to show several variables simultaneously,
or the same variable for different strata
12. breakdowns - ANSWER _________ compare statistics (usually measures of central
tendency) by strata for example average sale price by neighborhood
13. contingency tables - ANSWER show summary statistics for a dependent variable by
combinations of two independent variables, for example, average sale price per square
foot by construction grade and neighborhood
14. standard deviation - ANSWER interpretation of the _________ as a measure of spread
or dispersion depends on the data being "normally distributed" (approximating a bell-
shaped curve).
15. coefficient, variation - ANSWER The _________ of _________ expresses the
standard deviation as a percentage of the mean
, 16. extremes and outliers - ANSWER cases beyond the whiskers in box plots are
_________ and _________
17. Both single-property and mass appraisal - ANSWER _________ 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
18. MV=LV+BV - ANSWER A basic model structure for the cost approach would be
19. income and expense data - ANSWER What element is a property of characteristic
data?
20. sales ratio study - ANSWER A _________ plays a key role in summarizing the
achievements of a new system or reappraisal and in preparing for the next reappraisal
21. Specification, calibration, quality assurance - ANSWER Model development has what
components?
2025/2026 VERIFIED EXAM QUESTIONS &
CORRECT DETAILED ANSWERS ||
GUARANTEED SUCCESS
1. data inventory - ANSWER A _________ manual should explain how to collect and
code data thus ensuring greater uniformity among appraisers
2. consistency - ANSWER A _____ edit makes certain that the number of bedrooms
does not exceed the total room county or the square footage of the basement is not greater
than the square footage if the finished area
3. subjective - ANSWER _____ data are items where the proper value is a matter of
judgment and more difficult to verify
,4. quantity - ANSWER relates to the completeness of the available data or what must be
collected to capture local market influence
5. classroom, field - ANSWER data collectors should have both _______ and ______
training
6. array - ANSWER The listing of data in order of magnitude (either ascending or
descending) is termed a/an
7. histogram - ANSWER The charting of a frequency distribution using a ______
illustrates the extent to which sales ratios are in a normal (bell-shape) distribution
8. range, quartiles, percentiles, standard deviation, coefficient of variation - ANSWER
List five common measures of dispersion
9. Crosstabulations - ANSWER _________ show the distribution of values for two
binary or discrete variables
,10. scatter diagrams - ANSWER _________ show the relationship between two
quantitative variables with the dependent variable placed on the vertical axis and the
independent variable placed on the horizontal axis
11. polygon - ANSWER A ______ can be used to show several variables simultaneously,
or the same variable for different strata
12. breakdowns - ANSWER _________ compare statistics (usually measures of central
tendency) by strata for example average sale price by neighborhood
13. contingency tables - ANSWER show summary statistics for a dependent variable by
combinations of two independent variables, for example, average sale price per square
foot by construction grade and neighborhood
14. standard deviation - ANSWER interpretation of the _________ as a measure of spread
or dispersion depends on the data being "normally distributed" (approximating a bell-
shaped curve).
15. coefficient, variation - ANSWER The _________ of _________ expresses the
standard deviation as a percentage of the mean
, 16. extremes and outliers - ANSWER cases beyond the whiskers in box plots are
_________ and _________
17. Both single-property and mass appraisal - ANSWER _________ 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
18. MV=LV+BV - ANSWER A basic model structure for the cost approach would be
19. income and expense data - ANSWER What element is a property of characteristic
data?
20. sales ratio study - ANSWER A _________ plays a key role in summarizing the
achievements of a new system or reappraisal and in preparing for the next reappraisal
21. Specification, calibration, quality assurance - ANSWER Model development has what
components?
