IAAO 311 2026 QUESTIONS AND ANSWERS | A+ GRADED | WITH EXPERT SOLUTIONS
What is a requirement of both single-property and mass appraisal? - (ANSWER)Uses three basic
approaches to value
What is the first step in the mass appraisal process? - (ANSWER)definition of the problem
List the three types of data that must be collected in analyzing the market. - (ANSWER)General data
Specific data
Comparative data
Identifying supply and demand factors that best explain values in a specific market, and expressing them
in an equation is called ______________________________________. - (ANSWER)model specification
Developing adjustment weights or coefficients from measurable supply and demand factors that include
quantitative factors describing the improvements and qualitative judgments affecting land and/or
improvement value is called ____________________________________. - (ANSWER)model calibration
List the five determinants of demand: - (ANSWER)Price
Price of related commodities
Consumer tastes and preference
Consumer's income
Consumer expectations
List the three determinants of supply: - (ANSWER)Price
Availability and cost of related goods
Technology
A ____________ helps evaluate what data to collect and the best way to collect it. - (ANSWER)pilot
study
, IAAO 311 2026 QUESTIONS AND ANSWERS | A+ GRADED | WITH EXPERT SOLUTIONS
IAAO standards recommend routine property inspections at least every ________ years. - (ANSWER)six
List four methods of obtaining income and expense data: - (ANSWER)Mail questionnaires
Telephone
Personal contact
Industry and trade publications
The square foot area of a residence is considered ___________ _____________ data while the condition
rating is considered _______ ___________ data. - (ANSWER)continuous (quantitative)
discrete (qualitative)
__________ data is qualitative items that have only two possibilities, yes or no. - (ANSWER)Binary
Converting a discrete variable to relative values or numerical ratings is termed a ___________
transformation. - (ANSWER)scalar
The result of a depreciation analysis show that the effect of age on value is: % good=Age -.10. The
percent good for 20 years of age would be _________ while the percent good for 40 years of age would
be________. - (ANSWER)0.741
0.692
The natural log for a lot with a depth of 150 feet would be _____________. The factor relative to a base
lot of 100 feet would be _________. - (ANSWER)5.011
1.088
A _____________________________ transformation helps address the interactive relationship of a size
related variable with a quality-related variable. - (ANSWER)multiplicative
The division of one variable by another, for example square feet by number of rooms, is termed a
________________ transformation. - (ANSWER)quotient
What is a requirement of both single-property and mass appraisal? - (ANSWER)Uses three basic
approaches to value
What is the first step in the mass appraisal process? - (ANSWER)definition of the problem
List the three types of data that must be collected in analyzing the market. - (ANSWER)General data
Specific data
Comparative data
Identifying supply and demand factors that best explain values in a specific market, and expressing them
in an equation is called ______________________________________. - (ANSWER)model specification
Developing adjustment weights or coefficients from measurable supply and demand factors that include
quantitative factors describing the improvements and qualitative judgments affecting land and/or
improvement value is called ____________________________________. - (ANSWER)model calibration
List the five determinants of demand: - (ANSWER)Price
Price of related commodities
Consumer tastes and preference
Consumer's income
Consumer expectations
List the three determinants of supply: - (ANSWER)Price
Availability and cost of related goods
Technology
A ____________ helps evaluate what data to collect and the best way to collect it. - (ANSWER)pilot
study
, IAAO 311 2026 QUESTIONS AND ANSWERS | A+ GRADED | WITH EXPERT SOLUTIONS
IAAO standards recommend routine property inspections at least every ________ years. - (ANSWER)six
List four methods of obtaining income and expense data: - (ANSWER)Mail questionnaires
Telephone
Personal contact
Industry and trade publications
The square foot area of a residence is considered ___________ _____________ data while the condition
rating is considered _______ ___________ data. - (ANSWER)continuous (quantitative)
discrete (qualitative)
__________ data is qualitative items that have only two possibilities, yes or no. - (ANSWER)Binary
Converting a discrete variable to relative values or numerical ratings is termed a ___________
transformation. - (ANSWER)scalar
The result of a depreciation analysis show that the effect of age on value is: % good=Age -.10. The
percent good for 20 years of age would be _________ while the percent good for 40 years of age would
be________. - (ANSWER)0.741
0.692
The natural log for a lot with a depth of 150 feet would be _____________. The factor relative to a base
lot of 100 feet would be _________. - (ANSWER)5.011
1.088
A _____________________________ transformation helps address the interactive relationship of a size
related variable with a quality-related variable. - (ANSWER)multiplicative
The division of one variable by another, for example square feet by number of rooms, is termed a
________________ transformation. - (ANSWER)quotient
