IAAO 300 course Test Exam Questions and Answers |
Fall 2025/2026 Update | 100% Correct
The definition of mass appraisal is the systematic appraisal of groups of properties, as of a given date, using standardized
procedures and _____
Correct Answer
statistical testing
Question 2
Building costs, economic conditions and interest rates are ______ factors
Correct Answer
supply
Question 3
Location, condition, and construction quality are______ Factors
Correct Answer
demand
Page 1 of 15
, Question 4
______ involves the determination of what data to include in the model and in what format.
Correct Answer
Model specification
Question 5
Determining the rates used in a model, such as adjusting formulas, tables or schedules to the current market is known as
Correct Answer
model calibration
Question 6
Property valuation models seek to explain or predict the
Correct Answer
market value
Question 7
A _______ should be conducted to measure and evaluate the accuracy and uniformity of new values
Correct Answer
ratio study
Page 2 of 15
Fall 2025/2026 Update | 100% Correct
The definition of mass appraisal is the systematic appraisal of groups of properties, as of a given date, using standardized
procedures and _____
Correct Answer
statistical testing
Question 2
Building costs, economic conditions and interest rates are ______ factors
Correct Answer
supply
Question 3
Location, condition, and construction quality are______ Factors
Correct Answer
demand
Page 1 of 15
, Question 4
______ involves the determination of what data to include in the model and in what format.
Correct Answer
Model specification
Question 5
Determining the rates used in a model, such as adjusting formulas, tables or schedules to the current market is known as
Correct Answer
model calibration
Question 6
Property valuation models seek to explain or predict the
Correct Answer
market value
Question 7
A _______ should be conducted to measure and evaluate the accuracy and uniformity of new values
Correct Answer
ratio study
Page 2 of 15
