IAAO 311 EXAM PAPER 2026 QUESTIONS
WITH VERIFIED ANSWERS
⩥ What characteristics does a mass appraisal require? Answer: valuation
tables, schedules, and models
⩥ Economic, social, and environmental are termed? Answer: market
analysis data
⩥ Off site features and improvement data are termed? Answer: property
analysis data
⩥ Selecting appropriate valuation approaches and specifying the
variables to be used is called? Answer: model specification
⩥ Developing adjustment weights from measurable supply and demand
factors, including quantitative and qualitative factors is called? Answer:
model calibration
⩥ Valuation in exchange is determined by the interaction of?. Answer:
supply and demand
⩥ Value in exchange is?. Answer: market value
,⩥ A b0 is what?. Answer: constant
⩥ b is what?. Answer: coefficient
⩥ x is what?. Answer: variable
⩥ What kind of model is a combination of multiplicative and additive?.
Answer: hybrid (generic) model
⩥ 4 categories of market data are?. Answer: PEGS,
Physical/Environmental, Economic, Governmental, Social
⩥ Building codes, planning, and zones are considered (blank) forces?.
Answer: Government
⩥ What is the most effective yet expensive way to collect data?. Answer:
personal interviews
⩥ PGI is based on what?. Answer: market rent
⩥ What kind of lease does owner pay expenses?. Answer: gross
, ⩥ What kind of lease does tenant pay expenses?. Answer: net
⩥ (blank) data is also known as discrete data as it relates to features or
attributes of a property.. Answer: qualitative
⩥ (blank) data is also known as continuous data and is based on
measuring or counting.. Answer: quantitative
⩥ A (blank) transformation converts a discrete variable to relative values
or numerical ratings.. Answer: scalar
⩥ IAAO recommends properties to be re-inspected every (blank) years..
Answer: 6 years
⩥ Scalar transformation convert discrete data to?. Answer: numerical
ratings
⩥ Scalar variables center on "?" in additive models.. Answer: zero
⩥ Scalar variables center on "?" in multiplicative models.. Answer: one
⩥ A (blank) helps evaluate what data to collect and the best way to
collect them.. Answer: pilot study
WITH VERIFIED ANSWERS
⩥ What characteristics does a mass appraisal require? Answer: valuation
tables, schedules, and models
⩥ Economic, social, and environmental are termed? Answer: market
analysis data
⩥ Off site features and improvement data are termed? Answer: property
analysis data
⩥ Selecting appropriate valuation approaches and specifying the
variables to be used is called? Answer: model specification
⩥ Developing adjustment weights from measurable supply and demand
factors, including quantitative and qualitative factors is called? Answer:
model calibration
⩥ Valuation in exchange is determined by the interaction of?. Answer:
supply and demand
⩥ Value in exchange is?. Answer: market value
,⩥ A b0 is what?. Answer: constant
⩥ b is what?. Answer: coefficient
⩥ x is what?. Answer: variable
⩥ What kind of model is a combination of multiplicative and additive?.
Answer: hybrid (generic) model
⩥ 4 categories of market data are?. Answer: PEGS,
Physical/Environmental, Economic, Governmental, Social
⩥ Building codes, planning, and zones are considered (blank) forces?.
Answer: Government
⩥ What is the most effective yet expensive way to collect data?. Answer:
personal interviews
⩥ PGI is based on what?. Answer: market rent
⩥ What kind of lease does owner pay expenses?. Answer: gross
, ⩥ What kind of lease does tenant pay expenses?. Answer: net
⩥ (blank) data is also known as discrete data as it relates to features or
attributes of a property.. Answer: qualitative
⩥ (blank) data is also known as continuous data and is based on
measuring or counting.. Answer: quantitative
⩥ A (blank) transformation converts a discrete variable to relative values
or numerical ratings.. Answer: scalar
⩥ IAAO recommends properties to be re-inspected every (blank) years..
Answer: 6 years
⩥ Scalar transformation convert discrete data to?. Answer: numerical
ratings
⩥ Scalar variables center on "?" in additive models.. Answer: zero
⩥ Scalar variables center on "?" in multiplicative models.. Answer: one
⩥ A (blank) helps evaluate what data to collect and the best way to
collect them.. Answer: pilot study
