IAAO 300 STUDY GUIDE 2025/2026 QUESTIONS AND
SOLUTIONS GRADED A+ TIP
✔✔Qualitative items that have three or more predefined values e.g. (topography: level,
rolling or steep) are known as _____ data - ✔✔discrete
✔✔A _______ manual should explain how to collect and code data thus ensuring
greater uniformity among appraisers. - ✔✔data inventory
✔✔A ___________ edit makes certain that the number of bedrooms does not exceed
the total room count or the square footage of the basement is not greater than the
square footage of the finished area - ✔✔consistency
✔✔______ data are items where the proper value is a matter of judgment and more
difficult to verify - ✔✔Subjective
✔✔___________ relates to the completeness of the available data or what must be
collected to capture local market influences. - ✔✔Quantity
✔✔Data collectors should have both ______and _____ training. - ✔✔classroom and
field
✔✔The listing of data in order of magnitude (either ascending or descending) is termed
a/an - ✔✔array
✔✔The charting of a frequency distribution using a _______ illustrates the extent to
which sales ratios are in a normal (bell-shaped) distribution - ✔✔histogram
✔✔List five common measures of dispersion - ✔✔a. Range
b. Quartiles
c. Percentiles
d. Standard deviation
e. Coefficient of variation
✔✔__________ show the distribution of values for two binary or discrete variables. -
✔✔Crosstabulations
✔✔______ 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. - ✔✔Scatter diagrams
✔✔A ______ can be used to show several variables simultaneously, or the same
variable for different strata. - ✔✔polygon
, ✔✔_________compare statistics (usually measures of central tendency) by strata, for
example, average sale price by neighborhood. - ✔✔Breakdowns
✔✔_________ show the distribution of values for two binary or discrete variables -
✔✔Contingency tables
✔✔Interpretation of the ___________ as a measure of spread or dispersion depends on
the data being "normally distributed" (approximating a bell-shaped curve). - ✔✔standard
deviation
✔✔The _____ of _______ expresses the standard deviation as a percentage of the
mean. - ✔✔coefficient of variation
✔✔Cases beyond the whiskers in box plots are_____ and _____ - ✔✔extremes and
outliers.
✔✔Three different ways of obtaining sales data from buyers and sellers are - ✔✔a. Mail
questionnaire
b. Telephone interview
c. Personal interview
✔✔A __________ shows the number of ratios falling within specified intervals and
reveals patterns and trends of a sample - ✔✔frequency distribution
✔✔A ___________ is a graph showing the relationship between an independent
variable and a dependent variable. - ✔✔scatter diagram
✔✔The median is the midpoint or the middle ratio when ratios are arrayed - ✔✔median
✔✔A _______ is a bar chart or graph of frequency distribution. - ✔✔histogram
✔✔The ___________ is the most common measure of appraisal uniformity. -
✔✔coefficient of dispersion
✔✔The ___-___________ is a measure of vertical equity in that it looks at the equity in
appraisal of low-value and high-value parcels. - ✔✔price-related differential
✔✔According to IAAO standards, the level of appraisal as measured by the median
ratio should fall between ___ and ___ - ✔✔0.90 and 1.10.
SOLUTIONS GRADED A+ TIP
✔✔Qualitative items that have three or more predefined values e.g. (topography: level,
rolling or steep) are known as _____ data - ✔✔discrete
✔✔A _______ manual should explain how to collect and code data thus ensuring
greater uniformity among appraisers. - ✔✔data inventory
✔✔A ___________ edit makes certain that the number of bedrooms does not exceed
the total room count or the square footage of the basement is not greater than the
square footage of the finished area - ✔✔consistency
✔✔______ data are items where the proper value is a matter of judgment and more
difficult to verify - ✔✔Subjective
✔✔___________ relates to the completeness of the available data or what must be
collected to capture local market influences. - ✔✔Quantity
✔✔Data collectors should have both ______and _____ training. - ✔✔classroom and
field
✔✔The listing of data in order of magnitude (either ascending or descending) is termed
a/an - ✔✔array
✔✔The charting of a frequency distribution using a _______ illustrates the extent to
which sales ratios are in a normal (bell-shaped) distribution - ✔✔histogram
✔✔List five common measures of dispersion - ✔✔a. Range
b. Quartiles
c. Percentiles
d. Standard deviation
e. Coefficient of variation
✔✔__________ show the distribution of values for two binary or discrete variables. -
✔✔Crosstabulations
✔✔______ 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. - ✔✔Scatter diagrams
✔✔A ______ can be used to show several variables simultaneously, or the same
variable for different strata. - ✔✔polygon
, ✔✔_________compare statistics (usually measures of central tendency) by strata, for
example, average sale price by neighborhood. - ✔✔Breakdowns
✔✔_________ show the distribution of values for two binary or discrete variables -
✔✔Contingency tables
✔✔Interpretation of the ___________ as a measure of spread or dispersion depends on
the data being "normally distributed" (approximating a bell-shaped curve). - ✔✔standard
deviation
✔✔The _____ of _______ expresses the standard deviation as a percentage of the
mean. - ✔✔coefficient of variation
✔✔Cases beyond the whiskers in box plots are_____ and _____ - ✔✔extremes and
outliers.
✔✔Three different ways of obtaining sales data from buyers and sellers are - ✔✔a. Mail
questionnaire
b. Telephone interview
c. Personal interview
✔✔A __________ shows the number of ratios falling within specified intervals and
reveals patterns and trends of a sample - ✔✔frequency distribution
✔✔A ___________ is a graph showing the relationship between an independent
variable and a dependent variable. - ✔✔scatter diagram
✔✔The median is the midpoint or the middle ratio when ratios are arrayed - ✔✔median
✔✔A _______ is a bar chart or graph of frequency distribution. - ✔✔histogram
✔✔The ___________ is the most common measure of appraisal uniformity. -
✔✔coefficient of dispersion
✔✔The ___-___________ is a measure of vertical equity in that it looks at the equity in
appraisal of low-value and high-value parcels. - ✔✔price-related differential
✔✔According to IAAO standards, the level of appraisal as measured by the median
ratio should fall between ___ and ___ - ✔✔0.90 and 1.10.
