IAAO 300: Complete Course Review Questions and Answers |
Fall 2025/2026 Update | 100% Correct
Question 1
What is the main difference between single property appraisal and mass appraisal?
Correct Answer
1. Group vs Particular 2. Mass Appraisal emphasizes standardized and statistical quality control features
Question 2
In the Appraisal Process, "Define the valuation problem" does not include which of the following:
a. Define the Value to be developed
b. Identify limiting conditions or limitations
c. Date of the value
d. Competitive properties
e. Identify intended use and users of appraisal
f. Develop highest and best use opinion
Correct Answer
d. and f.
Page 1 of 15
, Question 3
Supply and demand factors determine Real Estate values. Which are not supply factors?
a. Building costs
b. Interest Rates
c. Economic Conditions
d. Location
e. Construction Quality
f. Condition
Correct Answer
d.,e.,and f.
Question 4
Hybrid or generic models are reflective of which approach to value?
Correct Answer
Cost Approach
Question 5
What type of model is the following formula? MV=GQ x ((PL x SIZE)+(PB x SIZE))
Correct Answer
Simple Hybrid (Generic) Cost Model
Page 2 of 15
Fall 2025/2026 Update | 100% Correct
Question 1
What is the main difference between single property appraisal and mass appraisal?
Correct Answer
1. Group vs Particular 2. Mass Appraisal emphasizes standardized and statistical quality control features
Question 2
In the Appraisal Process, "Define the valuation problem" does not include which of the following:
a. Define the Value to be developed
b. Identify limiting conditions or limitations
c. Date of the value
d. Competitive properties
e. Identify intended use and users of appraisal
f. Develop highest and best use opinion
Correct Answer
d. and f.
Page 1 of 15
, Question 3
Supply and demand factors determine Real Estate values. Which are not supply factors?
a. Building costs
b. Interest Rates
c. Economic Conditions
d. Location
e. Construction Quality
f. Condition
Correct Answer
d.,e.,and f.
Question 4
Hybrid or generic models are reflective of which approach to value?
Correct Answer
Cost Approach
Question 5
What type of model is the following formula? MV=GQ x ((PL x SIZE)+(PB x SIZE))
Correct Answer
Simple Hybrid (Generic) Cost Model
Page 2 of 15
