IAAO331 Exam Questions and Verified Solutions Rated 100%
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Course
IAAO331
Institution
IAAO331
IAAO331 Exam Questions and Verified Solutions Rated 100%
Mass appraisal - Answers the systematic appraisal of groups of properties as of a given date using standardized procedures and statistical testing
objective of mass appraisal - Answers to appraise properties accurately, equitably, and effi...
IAAO331 Exam Questions and Verified Solutions Rated 100%
Mass appraisal - Answers the systematic appraisal of groups of properties as of a given date using
standardized procedures and statistical testing
objective of mass appraisal - Answers to appraise properties accurately, equitably, and efficiently in
accordance with or exceeding local law and professional standards
the two parts of building a mass appraisal model - Answers specification and calibration
COD in newer, more homogeneous areas - Answers 5-10
COD in older, more heterogeneous areas - Answers 5-15
3 types of mass appraisal model types - Answers additive, multiplicative, & hybrid
the most flexible type of appraisal model - Answers hybrid
annual re-evaluations - Answers provide optimal accuracy and uniformity and advocated by IAAO
measurements should be accurate within - Answers 5%
objective categorical data should be - Answers accurate at least 95% of the time
subjective categorical data should be - Answers accurate at least 90% of the time
step 1 in Mass appraisal - Answers planning and preparations
step 2 in Mass appraisal - Answers data collection and maintenance
step 3 in Mass appraisal - Answers market analysis and valuation
step 4 in Mass appraisal - Answers communication of values to taxpayers
step 5 of mass appraisal - Answers inquiries and value defense
definition of a market - Answers the interaction of buyers and sellers for a good or commodity
Markets are in - Answers Constant Flux
Equilibrium market - Answers when demand equals supply
Real estate markets can be volatile - Answers Because there is a fixed/limited supply
A rise in interest rates - Answers will curtail demand for housing, potentially leading to falling prices
determinants of supply - Answers prices, development and construction costs, future expectations,
existing inventory, gvt regulations
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