Iaao 300 exam - Study guides, Class notes & Summaries

Mass appraisal Correct Answer Systematic appraisal of groups of properties as of a given date using standardized procedures and statistical testing. Purpose of mass appraisal Correct Answer Equitable and efficient appraisal of all property in a jurisdiction for ad valorem tax purposes. When did first generation computers emerge? Correct Answer The 1950s Mass appraisal models may be: Correct Answer Physical, conceptual or mathematical. Property valuation models seek to explain or pred...

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IAAO 300 COMPLETE COURSE REVIEW 2024 LATEST EXAM 250 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A+

Supply, demand Correct Answer Real estate prices are a function of supply and demand operating simultaneously within a market. The _________ factors relate to availability, _________ factors include such things as condition, size and location Defining the valuation problem Correct Answer An appraiser establishes the date of value opinion, defines the value to be developed, and identifies the property rights to be appraised, this is part of ___________ Statistical testing Correct Answer The...

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supply, demand - correct answerReal estate prices are a function of supply and demand operating simultaneously within a market. The _________ factors relate to availability, _________ factors include such things as condition, size and location defining the valuation problem - correct answerAn appraiser establishes the date of value opinion, defines the value to be developed, and identifies the property rights to be appraised, this is part of ___________ statistical testing - correct answer...

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What are the 4 components of mass appraisal? Correct Answer 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 Answer 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...

What is the main difference between single property appraisal and mass appraisal? - correct answer1. Group vs Particular 2. Mass Appraisal emphasizes standardized and statistical quality control features In the Appraisal Process, "Define the valuation problem" does not include which of the following: a. Define the Value to be developed b. Identify limiting conditions or limitations c. Date of the value d. Competitive properties e. Identify intended use and users of appraisal f. Develo...

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