IAAO 311 (ACTUAL 2025/2026) QUESTIONS AND ANSWERS
GRADED A+
The predictive power of the COV depends on the extent the data is? ---answers---normally distributed
A scatter diagram depicting the relationship between sales ratio and effective age that portrays a downward sloping trend indicates a (blank) correlation which reflects (blank) ratios in older residences. ---answers---negative / lower
PRDs greater than 1.03 indicate? ---answers---regressive or under appraisal of higher value properties
PRDs les than .98 indicate? ---answers---progressive or over appraisal of higher value properties
The (blank) relates to equality between lower and higher value parcels. ---answers---PRD
A confidence interval is always? ---answers---2 tailed
Standard error is the same as? ---answers---standard deviation
(blank) is a statistical technique for estimating unknown data based on known and available data. ---answers---MRA
In regression statistics, the (blank) is the ratio of a regression coefficient to its standard error . ---answers---t-value
x1, x2, x3, represent? ---answers---variables
The successful application of MRA models in mass appraisal requires accurate (blank), adequate sales, good model building skills, and variables to capture significant (blank) influences. - --answers---property data / location
The regression statistic (blank) is the percentage of variation in the sales price is explained by the model. ---answers---R2
In regression statistics, the standard deviation of the regression error is termed the (blank). ---answers---SEE / standard error of estimate
What is a good strength of feedback? ---answers---separates land and improvements
What is a weakness of feedback? ---answers---proprietary algorithms and limited software
What is this formula? V=Sc + ADJc ---answers---sales comparison model
The sales comparison approach for income properties includes (blank) models which convert sales price to logarithms before calibration, thereby make a per unit transformation necessary. ---answers---mulitplicative
When calibrating an additive model, in the sales comparison approach for income properties, the (blank) variable is usually expressed on a per unit basis. ---answers---dependent
In regression statistics, the (blank) adjusts for degrees of freedom providing an unbiased estimate of (blank). --- answers---Adjusted R2 / R2
Use class is the same as? ---answers---property type
When estimating market rents either (blank) or (blank) income is used. ---answers---PGI or EGI
One of the characteristics by which properties are grouped is?---answers---type, class, area, quality, size
One of the modeling considerations for gross income models is that the dependent variable is on a (blank) basis. --- answers---per unit
The reliability of GIMs developed through stratification is
evaluated by examining: ---answers---sample size and
measures of dispersion consistency among strata
The 2 basic methods for developing per unit rents, expense ratios, GIMS, and OARs are (blank) and (blank). ---answers--- stratification and modeling
The dependent variable in the gross income model is? --- answers---income per unit
The dependent variable in the GIM model is? ---answers--- sale price / gross income
The dependent variable in the OAR model is? ---answers--- NOI / sale price
Vacancy and collection loss reflect typical? ---answers--- management
(blank) are used when implementing a new CAMA system or new valuation techniques, because they provide a test on a sample or test area. ---answers---pilot study
Once preliminary values are produced, an (blank) is an essential first step in quality control. ---answers---office review
