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IAAO 311 Exam With Correct Solutions 2024
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IAAO 311 Exam With Correct Solutions 2024
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IAAO 311 Exam With Correct Solutions 2024 What is a requirement of both single -property and mass appra isal? - correct answer.Uses three basic approaches to value What is the first step in the mass appraisal process? - correct answer.definition of the problem List the three types of data that must be collected in analyzing the market. - correct answer.Gen eral 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 ______________________________________. - correct 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 ______________________________ ______. - correct answer.model calibration List the five determinants of demand: - correct answer.Price Price of related commodities Consumer tastes and preference Consumer's income Consumer expectations List the three determinants of supply: - correct a nswer.Price Availability and cost of related goods Technology A ____________ helps evaluate what data to collect and the best way to collect it. - correct answer.pilot study IAAO standards recommend routine property inspections at least every ________ years. - correct answer.six List four methods of obtaining income and expense data: - correct 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. - correct answer.continuous (quantitative) discrete (qualitative) __________ data is qualitative items that have only two possibilities, yes or no. - correct answer.Binary Converting a discrete variable to relative values or numerical ratings is termed a ___________ transformation. - correct 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________. - correct answer.0.741 0.692 The natural l og for a lot with a depth of 150 feet would be _____________. The factor relative to a base lot of 100 feet would be _________. - correct answer.5.011 1.088 A _____________________________ transformation helps address the interactive relationship of a siz e related variable with a quality -related variable. - correct answer.multiplicative The division of one variable by another, for example square feet by number of rooms, is termed a ________________ transformation. - correct answer.quotient ______________ or ________________ areas are broad geographic areas subject to similar economic influences. - correct answer.Market economic ______________ or ____________________ are groups of properties that share similar location amenities. - correct answer.sub -areas neighborhoodThe benefits of buying summaries with Stuvia:
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