IAAO 311 REVIEW EXAM QUESTIONS
AND ANSWERS 100% PASS 2026 UPDATE.
What is a requirement of both single-property and mass appraisal? - ANS Uses three basic
approaches to value
What is the first step in the mass appraisal process? - ANS definition of the problem
List the three types of data that must be collected in analyzing the market. - ANS 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 ______________________________________. -
ANS 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 ____________________________________. -
ANS model calibration
List the five determinants of demand: - ANS Price
Price of related commodities
Consumer tastes and preference
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, Consumer's income
Consumer expectations
List the three determinants of supply: - ANS Price
Availability and cost of related goods
Technology
A ____________ helps evaluate what data to collect and the best way to collect it. - ANS pilot
study
IAAO standards recommend routine property inspections at least every ________ years. -
ANS six
List four methods of obtaining income and expense data: - ANS 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. - ANS continuous (quantitative)
discrete (qualitative)
__________ data is qualitative items that have only two possibilities, yes or no. - ANS Binary
Converting a discrete variable to relative values or numerical ratings is termed a ___________
transformation. - ANS 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________. - ANS 0.741
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
AND ANSWERS 100% PASS 2026 UPDATE.
What is a requirement of both single-property and mass appraisal? - ANS Uses three basic
approaches to value
What is the first step in the mass appraisal process? - ANS definition of the problem
List the three types of data that must be collected in analyzing the market. - ANS 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 ______________________________________. -
ANS 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 ____________________________________. -
ANS model calibration
List the five determinants of demand: - ANS Price
Price of related commodities
Consumer tastes and preference
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, Consumer's income
Consumer expectations
List the three determinants of supply: - ANS Price
Availability and cost of related goods
Technology
A ____________ helps evaluate what data to collect and the best way to collect it. - ANS pilot
study
IAAO standards recommend routine property inspections at least every ________ years. -
ANS six
List four methods of obtaining income and expense data: - ANS 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. - ANS continuous (quantitative)
discrete (qualitative)
__________ data is qualitative items that have only two possibilities, yes or no. - ANS Binary
Converting a discrete variable to relative values or numerical ratings is termed a ___________
transformation. - ANS 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________. - ANS 0.741
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
