IAAO 311 ACTUAL FINAL EXAM VERSION 1 |COMPLETE AND
GRADED QUESTIONS AND ANSWERS 2026 LATEST UPDATED | 100%
GRADED CORRECT | 100% GUARANTEED TO PASS | GET A+
What is a requirement of both single-property and mass appraisal? - (ANSWER)Uses three
basic approaches to value
What is the first step in the mass appraisal process? - (ANSWER)definition of the problem
List the three types of data that must be collected in analyzing the market. - (ANSWER)General
data
Specific data
Comparative data
Identifying supply and demand factors that best explain values in a specific market, and
expressing them in an equation is called ______________________________________. -
(ANSWER)model specification
Developing adjustment weights or coefficients from measurable supply and demand factors that
include quantitative factors describing the improvements and qualitative judgments affecting
,land and/or improvement value is called ____________________________________. -
(ANSWER)model calibration
List the five determinants of demand: - (ANSWER)Price
Price of related commodities
Consumer tastes and preference
Consumer's income
Consumer expectations
List the three determinants of supply: - (ANSWER)Price
Availability and cost of related goods
Technology
A ____________ helps evaluate what data to collect and the best way to collect it. -
(ANSWER)pilot study
IAAO standards recommend routine property inspections at least every ________ years. -
(ANSWER)six
, List four methods of obtaining income and expense data: - (ANSWER)Mail questionnaires
Telephone
Personal contact
Industry and trade publications
The square foot area of a residence is considered ___________ _____________ data while the
condition rating is considered _______ ___________ data. - (ANSWER)continuous
(quantitative)
discrete (qualitative)
__________ data is qualitative items that have only two possibilities, yes or no. -
(ANSWER)Binary
Converting a discrete variable to relative values or numerical ratings is termed a ___________
transformation. - (ANSWER)scalar
The result of a depreciation analysis show that the effect of age on value is: % good=Age -.10.
The percent good for 20 years of age would be _________ while the percent good for 40 years of
age would be________. - (ANSWER)0.741
0.692
GRADED QUESTIONS AND ANSWERS 2026 LATEST UPDATED | 100%
GRADED CORRECT | 100% GUARANTEED TO PASS | GET A+
What is a requirement of both single-property and mass appraisal? - (ANSWER)Uses three
basic approaches to value
What is the first step in the mass appraisal process? - (ANSWER)definition of the problem
List the three types of data that must be collected in analyzing the market. - (ANSWER)General
data
Specific data
Comparative data
Identifying supply and demand factors that best explain values in a specific market, and
expressing them in an equation is called ______________________________________. -
(ANSWER)model specification
Developing adjustment weights or coefficients from measurable supply and demand factors that
include quantitative factors describing the improvements and qualitative judgments affecting
,land and/or improvement value is called ____________________________________. -
(ANSWER)model calibration
List the five determinants of demand: - (ANSWER)Price
Price of related commodities
Consumer tastes and preference
Consumer's income
Consumer expectations
List the three determinants of supply: - (ANSWER)Price
Availability and cost of related goods
Technology
A ____________ helps evaluate what data to collect and the best way to collect it. -
(ANSWER)pilot study
IAAO standards recommend routine property inspections at least every ________ years. -
(ANSWER)six
, List four methods of obtaining income and expense data: - (ANSWER)Mail questionnaires
Telephone
Personal contact
Industry and trade publications
The square foot area of a residence is considered ___________ _____________ data while the
condition rating is considered _______ ___________ data. - (ANSWER)continuous
(quantitative)
discrete (qualitative)
__________ data is qualitative items that have only two possibilities, yes or no. -
(ANSWER)Binary
Converting a discrete variable to relative values or numerical ratings is termed a ___________
transformation. - (ANSWER)scalar
The result of a depreciation analysis show that the effect of age on value is: % good=Age -.10.
The percent good for 20 years of age would be _________ while the percent good for 40 years of
age would be________. - (ANSWER)0.741
0.692
