IAAO 300 Exam Questions With Verified
Answers.
Supply Factors - answerBuilding costs
economic conditions
interest rates
Demand Factord - answerlocation
condition
construction quality
The definition of mass appraisal - answerThe systematic appraisal of groups of properties, as of a given
da...
The definition of mass appraisal - answer✔The systematic appraisal of groups of properties, as of a given
date, using standardized procedures and statistical testing.
Basic model for sales comparison approach - answer✔MV=Sc+ADJc
Model Specification - answer✔The determination of what data to include and in what format
Model calibration - answer✔Determining the rates used in a model such as adjusting tables or schedules
to the current market
Basic model for cost approach - answer✔MV=LV+BV
hybrid (additive/multiplicative) cost model - answer✔MV=GQ*((Pl*LSIZE)+(Pb*BSIZE))
7 - answer✔There are how many steps in the general appraisal process?
When it meets the expectations of parties who are regularly intended users of similar assignments. -
answer✔When is the scope of work acceptable?
Define the valuation problem - answer✔appraiser establishes the date of value opinion, defines the
value, and identifies the property rights to be appraised.
1. identify the problem to be solved
2. Determine and perform the scope of work necessary to develop a credible assignment
3. disclose the scope of work in the report - answer✔3 parts of the scope of work rule
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