IAAO 300 CORE MAIN EXAMS ALL QUESTIONS
AND ANSWERS SURE A+
✔✔a. cluster analysis
b. global model with location adjustments
c. geographical stratification - ✔✔The three approaches to stratification and location
analysis are:
✔✔per-unit-value - ✔✔_________ analyses can be very effective for homogenous
properties
✔✔multiple regression analysis - ✔✔A statistical technique used for estimating
unknown data based on known and available data is _________
✔✔MVs=Sc +/- ADJc - ✔✔The formal of sales comparison model is _________
✔✔a. additive
b. multiplicative
c. hybrid (generic) - ✔✔The three basic types of mass appraisal model structures area:
✔✔additive - ✔✔MVs = Bo = (b1 x X1) + (b2 x X2) + (b3 x X3) is known as the
_________ model
, ✔✔boundaries, physical - ✔✔When geographically stratifying properties, _________
should be drawn to correspond with _________ or political boundaries
✔✔market - ✔✔Broad geographic areas subject to the same economic influences are
known as _________
✔✔cluster analysis - ✔✔A technique that can be used to group similar subdivisions into
neighborhoods
✔✔hybrid (generic) - ✔✔MV = GQ x [(Pi X Qi) + (Pl x Ql) + OA is known as
the_________ model
✔✔adaptive estimation procedure - ✔✔The trial and error process for quantifying the
relationship between dependent (sale price) and independent variables (property
characteristics) is the _________
✔✔dispersion - ✔✔In the development of per-unit values, the most appropriate units
would have low measures of _________
✔✔MV= NOI / OAR - ✔✔The formula for net income model is _________
✔✔stratify - ✔✔When estimating gross income, you must _________ properties by
class, etc., compute measures of central tendency and dispersion, and determine the
typical per-unit value
✔✔expense ratio - ✔✔property taxes should not be included when estimating
_________
✔✔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
✔✔MV = GI x GIM - ✔✔The formula for gross income model is _________
✔✔stratification, modeling - ✔✔two basic methods of estimating gross income in mass
appraisal are _________ and _________
✔✔gross income per unit - ✔✔The dependent variable in gross income models should
be_________
✔✔property characteristics - ✔✔Independent variables in gross income models should
be _________ that are important in explaining differences in gross income
AND ANSWERS SURE A+
✔✔a. cluster analysis
b. global model with location adjustments
c. geographical stratification - ✔✔The three approaches to stratification and location
analysis are:
✔✔per-unit-value - ✔✔_________ analyses can be very effective for homogenous
properties
✔✔multiple regression analysis - ✔✔A statistical technique used for estimating
unknown data based on known and available data is _________
✔✔MVs=Sc +/- ADJc - ✔✔The formal of sales comparison model is _________
✔✔a. additive
b. multiplicative
c. hybrid (generic) - ✔✔The three basic types of mass appraisal model structures area:
✔✔additive - ✔✔MVs = Bo = (b1 x X1) + (b2 x X2) + (b3 x X3) is known as the
_________ model
, ✔✔boundaries, physical - ✔✔When geographically stratifying properties, _________
should be drawn to correspond with _________ or political boundaries
✔✔market - ✔✔Broad geographic areas subject to the same economic influences are
known as _________
✔✔cluster analysis - ✔✔A technique that can be used to group similar subdivisions into
neighborhoods
✔✔hybrid (generic) - ✔✔MV = GQ x [(Pi X Qi) + (Pl x Ql) + OA is known as
the_________ model
✔✔adaptive estimation procedure - ✔✔The trial and error process for quantifying the
relationship between dependent (sale price) and independent variables (property
characteristics) is the _________
✔✔dispersion - ✔✔In the development of per-unit values, the most appropriate units
would have low measures of _________
✔✔MV= NOI / OAR - ✔✔The formula for net income model is _________
✔✔stratify - ✔✔When estimating gross income, you must _________ properties by
class, etc., compute measures of central tendency and dispersion, and determine the
typical per-unit value
✔✔expense ratio - ✔✔property taxes should not be included when estimating
_________
✔✔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
✔✔MV = GI x GIM - ✔✔The formula for gross income model is _________
✔✔stratification, modeling - ✔✔two basic methods of estimating gross income in mass
appraisal are _________ and _________
✔✔gross income per unit - ✔✔The dependent variable in gross income models should
be_________
✔✔property characteristics - ✔✔Independent variables in gross income models should
be _________ that are important in explaining differences in gross income
