IAAO 311 ACTUAL QUESTIONS AND ANSWERS

IAAO 311 (ACTUAL / ) 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 1 / 3

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

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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

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