on Test Flashcards
basic model structure for the cost approach
MV=LV+BV
HYBRID GENERIC MODEL
MV=GQ(PLLSIZE)+(PB*BSIZE)
___% OF THE DATA LIE WITHIN ABOUT ONE STANDARD DEVIATION OF THE MEAN
68
PERCENTILES FORMULA
K=PN+P WHERE K=RANK, P=CHOSEN QUARTILE AND N=SAMPLE SIZE
THE CHARTING OF A FREQUENCY DISTRIBUTION USING A _____ ILLUSTRATES THE EXTENT TO WHICH SALES RATIOS ARE IN A NORMAL BELL SHAPED DISTRIBUTION
HISTOGRAM
________ SHOW SUMMARY STATISTICS FOR A DEPENDENT VARIABLE BY COMBINATIONS OF TWO INDEPENDENT VARIABLES, FOR EXAMPLE, AV SALE PRICE PER SQ FT BY GRADE AND NHBD
CONTINGENCY TABLES
SALES RATIO TRENDING IS ___/___
TARGET/ACTUAL
BAR CHART OR GRAPH OF FREQUENCY DISTRIBUTION
HISTOGRAM
BASIC MODEL STRUCTURE FOR COST APPROACH WOULD BE
MV=LV+(RCN-D)
WHICH ELEMENT IS NOT A PROPERTY CHARACTERISTIC DATA? LOCATION DATA LAND/SITE DATA BUILDING DATA INCOME AND EXPENSE DATA
INCOME AND EXPENSE DATA
A __ DATA EDIT PRODUCES A WARNING TO THE OPERATOR INDICATING ENTRY MAY BE INVALID. A ____ DATA EDIT PRECLUDES THE OPERATOR FROM MAKING CERTAIN ENTRIES.
SOFT-HARD
A ___ IS A GRAPHICAL REPRESENTATION OF A FREQ DISTR
HISTORGRAM
WHAT IS THE 3RD QUARTILE OF THIS DATA? 234 322 400 440 476 240 350 400 448 504 286 376 418 456 560 302 380 440 460 640
459
A GOOD way to SHOW THE DISTRIBUTION OF TWO QUALITATIVE VARIABLES IS
CROSS-TABULATION
TYPES OF COSTS: DIRECT
MATERIALS
LABOR
SUPERVISION
TYPES OF COSTS: INDIRECT
ARCH AND ENGIN FEES PERMITS INSURANCE INTEREST TAXES MARKETING OVERHEAD/PROFIT
ALL COSTS ARE EXPRESSED ON A SQ FT BASIS
COMPARATIVE UNIT METHOD
MOST COMMON METHOD IN MASS APPRAISAL
COMP UNIT METHOD
___ should contain replacement cost tables, depr schedules, guidelines for classifying structures, and building feature codes.
cost manuals
The formula for net income model is
MV=NOI/OAR
THE FORMULA OF A GROSS INCOME MODEL IS
MV=GI*GIM
SOFTWARE THAT IS WRITTEN BY THE DATA PROCESSING DEPARTMENT TO MEET THE ASSESSORS REQUIREMENTS AND IS FULLY CUSTOMIZED
IN HOUSE
SOFTWARE THAT INVOLVES USING A COMMERCIAL DATABASE, STATISTICAL SPREADSHEET, OR OTHER SOFTWARE TO BUILD THE MASS APPRAISAL SYSTEM.
generic
ONE OF THE STRENGTHS OF FEEDBACK IS THAT IT
PRODUCES SEPARATE LAND AND BUILDING VALUES
IN MASS APPRAISAL, COST MODELS FOLLOWS THE STRUCTURE OF
HYBRID GENERIC MODELS
WHAT IS AN ADVANTAGE TO DEVELOPING SOFTWARE IN HOUSE
FULL CUSTOMIZATION
TOP DOWN DECISION MAKING-ONE OF THE FIRST MANAGEMENT THEORIES
CLASSICAL THEORY OF MANAGEMENT
STATES THAT AUTHORITY AND RESPONSIBILITY SHOULD FLOW IN A DIRECT LINE VERTICALLY FROM HIGHEST TO LOWEST LEVEL
SCALAR PRINCIPLE
PROCESS OF SETTING AND ACHIEVING GOALS THROUGH FUNCTIONS
MANAGEMENT
BASIC MANAGERIAL FUNCTIONS-PODC
PLANNING
ORGANIZING
DIRECTING
CONTROLLING
PROCESS OF AN AREA OF SPECIALTY
TECHNICAL SKILLS
ABILITIES TO COMMUNICATE AND INTERACT WITH OTHER INDIVIDUALS
HUMAN SKILLS
MANAGERS ABILITY TO CREATE AND MANIPULATE NEW IDEAS
CONCEPTUAL SKILLS
PROCESS OF INFLUENCING INDIVIDUALS AND GROUPS TO SET AND ACHIEVE GOALS
LEADERSHIP
3 NECESSARY MANAGEMENT SKILLS-THC
TECHNICAL
HUMAN
CONCEPTUAL
most common budget
LINE-ITEM BUDGET
MEASURABLE SPECIFICS THAT MUST BE ACCOMPLSIHED IN TOTAL, OR IN SOME COMBINATION TO ACHIEVE GOALS ARE
OBJECTIVES
PLANNING AND COORDINATING OF EFFORTS FOR A COMMON PURPOSE
ORGANIZING
JOBS ACCORDING TO ACTIVITY TO BE DONE
FUNCTIONAL DIVISIONS
DIVISIONS THAT INCLUDE A SPECIFIC AREA OF THE JURISDICTION ARE CALLED
GEOGRAPHIC DIVISIONS
A PROCESS FOR DETERMINING WHERE THE ORGANIZATION IS GOING OVER SOME SPAN OF TIME IS PART OF THE
STRATEGIC PLAN
WHAT CONTAINS DETAILED INFORMATION ABOUT WORK LOADS, MEASURES OF PERFORMANCE AND RESOURCES REQUIRED
OPERATIONAL PLAN
FUNCTIONAL DIVISIONS CATEGORIZE JOBS ACCORDING TO
THE ACTIVITY TO BE DONE
JOB SHARING, FLEX HOURS, AND TELECOMMUTING ARE EXAMPLES OF
NON PAY INCENTIVES
PROCESS OF ENTRUSTING ONES AUTHORITY TO A COMPETENT SUBORDINATE
DELEGATION
EMPLOYEES ADVISE THEIR SUPERVISOR
MODERATE
MASLOWS HEIRARCHY OF NEEDS PLACES ___ AT THE TOP
self actualization
Strictness, leniency, central tendency, recency, personal bias are all examples of
Most common performance evaluation errors
Assessors first line of defense
Good PR
Appraiser must determine the ___ for any assignment
scope of work
identification of problem requires appraiser to identify:
client intended use type of value subject of assignment assignment conditions
must ___ with client to establish problem identification
communicate
