IAAO 311 Review Questions and Quizzes Latest
Update 2025-2026 110 Questions and 100%
Verified Correct Answers Guaranteed A+
__________ data is qualitative items that have only two possibilities, yes or no. -
CORRECT ANSWER: Binary
____________ ___________ are used primarily in the development of MRA models,
while ________ are used to develop regression variables. - CORRECT ANSWER:
Market areas
sub-areas
_____________ are those values that include given percentages of the data set. -
CORRECT ANSWER: Percentiles
______________ or ________________ areas are broad geographic areas subject to
similar economic influences. - CORRECT ANSWER: Market
economic
______________ or ____________________ are groups of properties that share
similar location amenities. - CORRECT ANSWER: sub-areas
neighborhood
_________________ ________________ are valuable to assessors, because they
provide meaningful information about the probable range of the true measures of central
tendency. - CORRECT ANSWER: Confidence intervals
____________________________ are useful when implementing a new CAMA system
or valuation techniques, because it provides a test on a sample or test value. -
CORRECT ANSWER: Pilot studies
,____________________________ show the relationship between two qualitative
variables. - CORRECT ANSWER: Cross-tabulations
_______________________________________ can be used to show several variables
simultaneously. - CORRECT ANSWER: Polygons (line charts)
________________________________________________ is a statistical technique for
estimating unknown data based on known and available data. - CORRECT ANSWER:
Multiple regression analysis (MRA)
A ____________ helps evaluate what data to collect and the best way to collect it. -
CORRECT ANSWER: pilot study
A _____________________________ transformation helps address the interactive
relationship of a size related variable with a quality-related variable. - CORRECT
ANSWER: multiplicative
A method of stratification operating on the principle of minimizing differences within
groups and maximizing differences among groups is known as _________
___________. - CORRECT ANSWER: cluster analysis
A scatter diagram depicting the relationship between sales ratio and effective age that
portrays a downward sloping trend indicates a ________________ correlation showing
______________ ratios for older residences. - CORRECT ANSWER: negative
lower
A scatter diagram shows that there is a loose negative correlation between sale price
and distance to the central business district. Which correlation coefficient would be
consistent with the scatter diagram? - CORRECT ANSWER: -.20
, Accurate land values are important because: - CORRECT ANSWER: They help
establish the credibility of the total value.
They are required for the cost approach.
They are used in market research and modeling.
All of the above
Adjustments for variations from base specifications in the cost model can take the form
of _________________, dollars per square foot, other per unit costs, or ______ ______
dollar costs. - CORRECT ANSWER: multipliers
lump sum
After plotting percent good or accrued depreciation against effective age, a curve can
be fitted to the data using any one of the following three ways: - CORRECT ANSWER:
Visually by hand
Using graphics software
Using multiplicative or nonlinear MRA
Aspects of value acceptability are: - CORRECT ANSWER: accuracy
stability
explainability
All of the above
Assessors need skills in single property appraisal to: - CORRECT ANSWER: defend
values
Assume that the average age of homes in a neighborhood is 25 years and that the
standard deviation is 3 years. Assuming that the data are normally distributed,
Update 2025-2026 110 Questions and 100%
Verified Correct Answers Guaranteed A+
__________ data is qualitative items that have only two possibilities, yes or no. -
CORRECT ANSWER: Binary
____________ ___________ are used primarily in the development of MRA models,
while ________ are used to develop regression variables. - CORRECT ANSWER:
Market areas
sub-areas
_____________ are those values that include given percentages of the data set. -
CORRECT ANSWER: Percentiles
______________ or ________________ areas are broad geographic areas subject to
similar economic influences. - CORRECT ANSWER: Market
economic
______________ or ____________________ are groups of properties that share
similar location amenities. - CORRECT ANSWER: sub-areas
neighborhood
_________________ ________________ are valuable to assessors, because they
provide meaningful information about the probable range of the true measures of central
tendency. - CORRECT ANSWER: Confidence intervals
____________________________ are useful when implementing a new CAMA system
or valuation techniques, because it provides a test on a sample or test value. -
CORRECT ANSWER: Pilot studies
,____________________________ show the relationship between two qualitative
variables. - CORRECT ANSWER: Cross-tabulations
_______________________________________ can be used to show several variables
simultaneously. - CORRECT ANSWER: Polygons (line charts)
________________________________________________ is a statistical technique for
estimating unknown data based on known and available data. - CORRECT ANSWER:
Multiple regression analysis (MRA)
A ____________ helps evaluate what data to collect and the best way to collect it. -
CORRECT ANSWER: pilot study
A _____________________________ transformation helps address the interactive
relationship of a size related variable with a quality-related variable. - CORRECT
ANSWER: multiplicative
A method of stratification operating on the principle of minimizing differences within
groups and maximizing differences among groups is known as _________
___________. - CORRECT ANSWER: cluster analysis
A scatter diagram depicting the relationship between sales ratio and effective age that
portrays a downward sloping trend indicates a ________________ correlation showing
______________ ratios for older residences. - CORRECT ANSWER: negative
lower
A scatter diagram shows that there is a loose negative correlation between sale price
and distance to the central business district. Which correlation coefficient would be
consistent with the scatter diagram? - CORRECT ANSWER: -.20
, Accurate land values are important because: - CORRECT ANSWER: They help
establish the credibility of the total value.
They are required for the cost approach.
They are used in market research and modeling.
All of the above
Adjustments for variations from base specifications in the cost model can take the form
of _________________, dollars per square foot, other per unit costs, or ______ ______
dollar costs. - CORRECT ANSWER: multipliers
lump sum
After plotting percent good or accrued depreciation against effective age, a curve can
be fitted to the data using any one of the following three ways: - CORRECT ANSWER:
Visually by hand
Using graphics software
Using multiplicative or nonlinear MRA
Aspects of value acceptability are: - CORRECT ANSWER: accuracy
stability
explainability
All of the above
Assessors need skills in single property appraisal to: - CORRECT ANSWER: defend
values
Assume that the average age of homes in a neighborhood is 25 years and that the
standard deviation is 3 years. Assuming that the data are normally distributed,
