IAAO 311 STUDY GUIDE 2026 QUESTIONS
AND VERIFIED SOLUTIONS
⩥ Which of the following statistical techniques would be most
appropriate for grouping similar subdivisions for modeling purposes?
A. Multiple regression analysis
B. Location Value Response Surface Analysis
C. Adaptive estimation procedure
D. Cluster analysis. Answer: D. Cluster Analysis
⩥ Assume that the average age of homes in a neighborhood is 25 years
and that the standard deviation is 3 years. Assuming the data are
normally distributed, approximately 95% of the homes will fall in what
age bracket?
A. 22-26
B. 22-28
C. 19-31
D. 16-34. Answer: C. 19-31
⩥ A scatter diagram shows that there is a loose negative correlation
between sale price and distance to the central business district. Which of
the following correlation coefficients would be consistent with the
scatter diagram?
,A. Zero
B. -2.00
C. -.20
D. .50. Answer: C. -.20
⩥ Which of the following best defines the coefficient of dispersion
(COD)?
A. Average deviation from the chosen measure of central tendancy
B. Standard deviation of the ratios expressed as a percentage of the mean
C. The range which contains 50 percent of the ratios.
D. Average percentage deviation from the median. Answer: D. Average
percentage deviation from the median.
⩥ The IAAO standards for the COD for older, heterogeneous residential
property is:
A. 5.0 or less
B. 10.0 or less
C. 15.0 or less
D. 20.0 or less. Answer: C. 15.0 or less
⩥ Assessors need skills in single property appraisal to:
A. Develop valuation models
B. Test values
, C. Defend values
D. All of the above. Answer: C. Defend values
⩥ In a statistical test, the statement or conclusion that is accepted in the
absence of sufficient evidence to the contrary is known as the:
A. First hypothesis
B. Alternative hypothesis
C. Confidence level
D. Null hypothesis. Answer: D. Null hypothesis
⩥ Consider the following ratios: .89, .96, 1.08, 1.14, and 1.20. What is
the coefficient of variation (COV)?
A. 10.6
B. 11.4
C. 12.1
D. 13.3. Answer: C. 12.1
⩥ In the cost approach model, construction costs represent the
__________side of the market and depreciation represents the
_________side of the market.
A. demand - supply
B. supply - demand
C. supply - supply
AND VERIFIED SOLUTIONS
⩥ Which of the following statistical techniques would be most
appropriate for grouping similar subdivisions for modeling purposes?
A. Multiple regression analysis
B. Location Value Response Surface Analysis
C. Adaptive estimation procedure
D. Cluster analysis. Answer: D. Cluster Analysis
⩥ Assume that the average age of homes in a neighborhood is 25 years
and that the standard deviation is 3 years. Assuming the data are
normally distributed, approximately 95% of the homes will fall in what
age bracket?
A. 22-26
B. 22-28
C. 19-31
D. 16-34. Answer: C. 19-31
⩥ A scatter diagram shows that there is a loose negative correlation
between sale price and distance to the central business district. Which of
the following correlation coefficients would be consistent with the
scatter diagram?
,A. Zero
B. -2.00
C. -.20
D. .50. Answer: C. -.20
⩥ Which of the following best defines the coefficient of dispersion
(COD)?
A. Average deviation from the chosen measure of central tendancy
B. Standard deviation of the ratios expressed as a percentage of the mean
C. The range which contains 50 percent of the ratios.
D. Average percentage deviation from the median. Answer: D. Average
percentage deviation from the median.
⩥ The IAAO standards for the COD for older, heterogeneous residential
property is:
A. 5.0 or less
B. 10.0 or less
C. 15.0 or less
D. 20.0 or less. Answer: C. 15.0 or less
⩥ Assessors need skills in single property appraisal to:
A. Develop valuation models
B. Test values
, C. Defend values
D. All of the above. Answer: C. Defend values
⩥ In a statistical test, the statement or conclusion that is accepted in the
absence of sufficient evidence to the contrary is known as the:
A. First hypothesis
B. Alternative hypothesis
C. Confidence level
D. Null hypothesis. Answer: D. Null hypothesis
⩥ Consider the following ratios: .89, .96, 1.08, 1.14, and 1.20. What is
the coefficient of variation (COV)?
A. 10.6
B. 11.4
C. 12.1
D. 13.3. Answer: C. 12.1
⩥ In the cost approach model, construction costs represent the
__________side of the market and depreciation represents the
_________side of the market.
A. demand - supply
B. supply - demand
C. supply - supply
