WGU C846 COMPREHENSIVE QUESTIONS AND CORRECT VERIFIED ANSWERS
NEWEST 2026 UPDATE/NEWEST UPDATE!!!
The definition of mass appraisal is the systematic appraisal of groups of properties, as of a
given date, using standardized procedures and _____________ ______________
statistical testing
Characteristics of mass appraisal that are different from single property appraisal are the
use of valuation tables, schedules, and ______________
models
Economic, social, and environmental data are termed ___________ data, while off-site
features and improvement data are termed ____________ ______________ data
Market
Property analysis
The appraisal principle which states "land cannot be valued on the basis of one use, while
improvements are valued on the basis of another use" is the principle of ____________
______
consistent use
Selecting appropriate valuation approaches and specifying the variables to be used is called
__________ ________________
model specification
Developing adjustment weights from measurable supply and demand factors, including
quantitative and qualitative factors, is called _____________ _________________
model calibration
According to modern price theory, value in exchange is determined by the interaction of
__________ and ___________
Supply
Demand
List the three determinants of supply...
_________
_________________________________________________
_______________
Price
Availability and cost of related goods
Technology
, 2
List the five determinants of demand...
________
__________________________
____________________________________
__________________________
____________________________________________
Price
Consumers' income
Price of related commodities
Consumer expectations
Consumer tastes and preferences
V = bo + b1 × SFLA + b2 × #baths + b3 × GARSQFT ... Is and example of what type of
model?
Additive
The 4 market forces that must be analyzed are...
_________________
______________________
________________
______________ ______________________
Economic
Governmental
Social
Physical/Environmental
Items such as building codes, planning, and zoning are considered _________________
forces
Governmental
The most effective, yet most expensive, method of gathering income and expense data is
_______________ _______________
Personal Interviews
Potential gross income (PGI) is based on ___________ rent, which reflects current rents
and typical management
Market
, 3
____ ____________ _________ is the income that is typically capitalized into an indication
of value in mass appraisal
Net Operating Income (NOI)
Typically, a ________ lease requires the owner to pay all operating expenses, while a ______
lease requires the tenant to pay all operating expenses
Gross
Net
_____________ data, also known as "discrete" data, relate to features or attributes of the
property
Qualitative
_________________ data, also known as "continuous" data, are based on measuring or
counting
Quantitative
___________ transformation converts a discrete variable to relative values or numerical
ratings
Scalar
When property characteristics affect value interactively, a ___________________
transformation captures the interactive effects
Multiplicative
A _______ ________ helps evaluate what data to collect and the best way to collect them
Pilot study
IAAO standards recommend routine property inspections at least every ______ years
Six (6)
List four methods of obtaining income and expense data...
_____ ______________
____________ ____________
______________ ______________
__________________ _____ _________ _______________
Mail questionnaires
Personal Interview
NEWEST 2026 UPDATE/NEWEST UPDATE!!!
The definition of mass appraisal is the systematic appraisal of groups of properties, as of a
given date, using standardized procedures and _____________ ______________
statistical testing
Characteristics of mass appraisal that are different from single property appraisal are the
use of valuation tables, schedules, and ______________
models
Economic, social, and environmental data are termed ___________ data, while off-site
features and improvement data are termed ____________ ______________ data
Market
Property analysis
The appraisal principle which states "land cannot be valued on the basis of one use, while
improvements are valued on the basis of another use" is the principle of ____________
______
consistent use
Selecting appropriate valuation approaches and specifying the variables to be used is called
__________ ________________
model specification
Developing adjustment weights from measurable supply and demand factors, including
quantitative and qualitative factors, is called _____________ _________________
model calibration
According to modern price theory, value in exchange is determined by the interaction of
__________ and ___________
Supply
Demand
List the three determinants of supply...
_________
_________________________________________________
_______________
Price
Availability and cost of related goods
Technology
, 2
List the five determinants of demand...
________
__________________________
____________________________________
__________________________
____________________________________________
Price
Consumers' income
Price of related commodities
Consumer expectations
Consumer tastes and preferences
V = bo + b1 × SFLA + b2 × #baths + b3 × GARSQFT ... Is and example of what type of
model?
Additive
The 4 market forces that must be analyzed are...
_________________
______________________
________________
______________ ______________________
Economic
Governmental
Social
Physical/Environmental
Items such as building codes, planning, and zoning are considered _________________
forces
Governmental
The most effective, yet most expensive, method of gathering income and expense data is
_______________ _______________
Personal Interviews
Potential gross income (PGI) is based on ___________ rent, which reflects current rents
and typical management
Market
, 3
____ ____________ _________ is the income that is typically capitalized into an indication
of value in mass appraisal
Net Operating Income (NOI)
Typically, a ________ lease requires the owner to pay all operating expenses, while a ______
lease requires the tenant to pay all operating expenses
Gross
Net
_____________ data, also known as "discrete" data, relate to features or attributes of the
property
Qualitative
_________________ data, also known as "continuous" data, are based on measuring or
counting
Quantitative
___________ transformation converts a discrete variable to relative values or numerical
ratings
Scalar
When property characteristics affect value interactively, a ___________________
transformation captures the interactive effects
Multiplicative
A _______ ________ helps evaluate what data to collect and the best way to collect them
Pilot study
IAAO standards recommend routine property inspections at least every ______ years
Six (6)
List four methods of obtaining income and expense data...
_____ ______________
____________ ____________
______________ ______________
__________________ _____ _________ _______________
Mail questionnaires
Personal Interview
