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IAAO 300 Exam Questions With Proper Solutions
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IAAO 300 Exam Questions With Proper Solutions
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IAAO 300 Exam Questions With ProperSolutions
What are the 4 components of mass appraisal? CORRECT ANSWERS Data Collection
& Maintenance
Exploratory Data Analysis
Model Development
Model Application Review & Reconiciliation
Data Collection & Maintenance is a component of the mass appraisal system and
consists of what? CORRECT ANSWERS Market (sales, income & expenses & cost
data)
Property attribute data (land, building & location data)
Exploratory Data Analysis is a component of the mass appraisal system and consists of
what? CORRECT ANSWERS Data Quality (data entry)
Distribution (patterns)
Market patterns (trends)
time trends (time adjustments)
Model Development is a component of the mass appraisal system and consists of
what? CORRECT ANSWERS Specification (details)
Calibration (adjustments, rates)
Quality assurance (does it make sense, ratio studies)
What is the median formula? CORRECT ANSWERS N+1 divided by 2
Standard deviations use what formulas? CORRECT ANSWERS median formula &
square key on calculator
Single variable analysis uses what? CORRECT ANSWERS array - put in order
frequency distribution - logical grouping of data
Histogram or bar chart - graph of frequency distribution
Pie chart - slices of percentages
Two variable analysis uses what? CORRECT ANSWERS cross tabulations-distribution
of 2 qualitative variables binary or discrete
scatter diagrams - independent & dependent variable - x and y(always top) axis
breakdowns - show distribution of variables by strata
Polygon - line chart (summary statistics by independent variable)
Box Plots - continuous and discrete (shows outliers)
Three variable analysis uses what? CORRECT ANSWERS contingency table - 1
dependent variable and 2 dependent variables
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