Free CAE Mass Appraisal and Statistical Analysis Questions and Answers

Question 1

What is the primary purpose of mass appraisal in property assessment?

Accepted Answer

To automate and standardize property valuations

Answer

Mass appraisal involves valuing a group of properties as of a given date using standardized procedures and statistical testing for equity and uniformity.

Question 2

Which statistical measure is most commonly used to determine the accuracy of a mass appraisal model?

Accepted Answer

Coefficient of dispersion (COD)

Answer

The coefficient of dispersion (COD) is used to measure the uniformity of assessments in mass appraisal.

Question 3

Which variable is typically considered in a mass appraisal regression model?

Accepted Answer

Living area in square feet

Answer

Living area (square footage) is a significant factor in valuation models used in mass appraisal.

Question 4

In mass appraisal, what is the significance of stratification?

Accepted Answer

To group similar properties for analysis

Answer

Stratification groups similar properties together to improve model accuracy and consistency within valuation models.

Question 5

What is the purpose of calibration in a mass appraisal model?

Accepted Answer

To adjust the model to reflect market data

Answer

Calibration fine-tunes model coefficients to align estimated values with actual market values for accuracy.

CAE - Certified Assessment Evaluator Practice Test

CAE - Certified Assessment Evaluator Practice Test

Free CAE Mass Appraisal and Statistical Analysis Questions and Answers