IAAO 300 EXAM QUESTIONS
WITH CORRECT DETAILED
ANSWERS
Crosstabulations - Answer-_________ show the distribution of values for two binary or
discrete variables
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
polygon - Answer-A ______ can be used to show several variables simultaneously, or
the same variable for different strata
breakdowns - Answer-_________ compare statistics (usually measures of central
tendency) by strata for example average sale price by neighborhood
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
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).
coefficient, variation - Answer-The _________ of _________ expresses the standard
deviation as a percentage of the mean
extremes and outliers - Answer-cases beyond the whiskers in box plots are _________
and _________
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
MV=LV+BV - Answer-A basic model structure for the cost approach would be
income and expense data - Answer-What element is a property of characteristic data?
, 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
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
WITH CORRECT DETAILED
ANSWERS
Crosstabulations - Answer-_________ show the distribution of values for two binary or
discrete variables
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
polygon - Answer-A ______ can be used to show several variables simultaneously, or
the same variable for different strata
breakdowns - Answer-_________ compare statistics (usually measures of central
tendency) by strata for example average sale price by neighborhood
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
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).
coefficient, variation - Answer-The _________ of _________ expresses the standard
deviation as a percentage of the mean
extremes and outliers - Answer-cases beyond the whiskers in box plots are _________
and _________
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
MV=LV+BV - Answer-A basic model structure for the cost approach would be
income and expense data - Answer-What element is a property of characteristic data?
, 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
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
