Assessor Exam Questions And Answers For A+ Score
2026!!!
1. Functional Incur- Basement stairway in poor location
able (Example)
2. Physical Incur- Basic structure is aging
able: Long-life
Components (Ex-
ample)
3. Functional Cur- Inadequacy of kitchen cabinets
able: Deficien-
cy Modernization
(example)
4. Economic (loca- Drop forge plant is next door
tional) (example)
5. Physical Curable Linoleum floor in kitchen is worn out
(example)
6. Functional Cur- $15,000 residence with gold plated door knobs
able: Super-Ade-
quacy (example)
7. Functional Cur- Supermarket needs central air conditioning
able: Normal De-
ficiency (exam-
ple)
8. Real Estate physical items, the land and any structures/improvements on it
9. Real Property Rights and benefits in addition to real estate
10. Bundle of Rights The right to sell, lease, occupy, mortgage, give away, do all or none
, Assessor Exam Questions And Answers For A+ Score
2026!!!
11. Police Power Right to regulate the use of property for public welfare
12. Easements Right to access property, mostly utility
13. Life Estate Ownership interest in property that is not inheritable, expires on the death of the
inhabitant, then reverts to the owner who granted the estate
14. Lease Contract between the owner and tenant which transfers a portion of the bundle
of rights for rent
15. Encroachments Unauthorized use of the property by an individual who does not own it
16. Land Contract Contract where the seller promises to give the property at a specified future time
and the buyer makes installments
17. Option Contract Property owner gives the buyer the right to buy property at a specified price within
a given time period
18. Warranty Deed Seller guarantees the buyer the title is clear of encumbrances except those
mentioned in the deed
19. Special Warranty Seller guarantees the title only against defects occurring during the time they held
Deed the title
20. Quit-Claim Deed Passes all of the interest in the land that the grantor may have and can give
21. Sheriff's Deed Used where the sheritt acts as the grantor for the public's benefit, contains no
warranties
22. Trustee's Deed When the property is held in trust...trustees need to sign the deed, guarantees
the title only against acts by the trustees
23. Accretion Land gained by water deposits adding to land
24. Used for collecting information about the transfer of real property
, Assessor Exam Questions And Answers For A+ Score
2026!!!
Real Estate Trans-
fer Return
25. Agricultural Use value
Property Value
Standard
26. Principle of Con- Value of an improvement by the amount it contributes to market value, not by its
tribution cost
27. Valuation Con- Market conditions, neighborhood analysis, physical, economic, governmental,
siderations and social factors
28. Property Consid- Conservation easements, zoning, special zoning restrictions, location, land, and
erations improvement factors, physical, and economic characteristics
29. Metes and Land identification system based on semi-permanent physical features or com-
Bounds pass bearings
30. Township divided into 36 sections, each section 1 mile square containing 640 acres
31. Residential Sub- Commonly described by the lot and block system of land
divisions
32. Fractional Sec- Corrections are made on the north and/or west side of townships and sections
tions
33. Baselines East/west with the Wisconsin baseline being the WI/Il border
34. Meridians North/south with WI being the 4th principal meridian
35. How Many 43,650 square feet
Square Feet in an
Acre?
, Assessor Exam Questions And Answers For A+ Score
2026!!!
36. NE1/4 NE1/4 10 acres
SW1/4
37. What Establishes Asking price
the Upper Limit
of Value?
38. What Establishes Ottering price
the Lower Limit
of Value?
39. Best Source of Direct interview of the seller or buyor
Verification/Doc-
umentation of
Sales Data
40. Greatest Degree 1. social
of Comparability 2. economic
is Influenced by 3. legal (governmental)
what Factors? 4. physical
41. Units of Compar- 1. front foot
ison for the Val- 2. square foot
uation of Vacant 3. acre
Land are... 4. section
42. Units of Compar- 1. square foot of building
ison for the Valu- 2. dwelling unit
ation of Residen- 3. gross rent multiplier
tial properties... 4. bedroom
43. Units of Compar- 1. apartment unit
ison for the Val- 2. apartment room
2026!!!
1. Functional Incur- Basement stairway in poor location
able (Example)
2. Physical Incur- Basic structure is aging
able: Long-life
Components (Ex-
ample)
3. Functional Cur- Inadequacy of kitchen cabinets
able: Deficien-
cy Modernization
(example)
4. Economic (loca- Drop forge plant is next door
tional) (example)
5. Physical Curable Linoleum floor in kitchen is worn out
(example)
6. Functional Cur- $15,000 residence with gold plated door knobs
able: Super-Ade-
quacy (example)
7. Functional Cur- Supermarket needs central air conditioning
able: Normal De-
ficiency (exam-
ple)
8. Real Estate physical items, the land and any structures/improvements on it
9. Real Property Rights and benefits in addition to real estate
10. Bundle of Rights The right to sell, lease, occupy, mortgage, give away, do all or none
, Assessor Exam Questions And Answers For A+ Score
2026!!!
11. Police Power Right to regulate the use of property for public welfare
12. Easements Right to access property, mostly utility
13. Life Estate Ownership interest in property that is not inheritable, expires on the death of the
inhabitant, then reverts to the owner who granted the estate
14. Lease Contract between the owner and tenant which transfers a portion of the bundle
of rights for rent
15. Encroachments Unauthorized use of the property by an individual who does not own it
16. Land Contract Contract where the seller promises to give the property at a specified future time
and the buyer makes installments
17. Option Contract Property owner gives the buyer the right to buy property at a specified price within
a given time period
18. Warranty Deed Seller guarantees the buyer the title is clear of encumbrances except those
mentioned in the deed
19. Special Warranty Seller guarantees the title only against defects occurring during the time they held
Deed the title
20. Quit-Claim Deed Passes all of the interest in the land that the grantor may have and can give
21. Sheriff's Deed Used where the sheritt acts as the grantor for the public's benefit, contains no
warranties
22. Trustee's Deed When the property is held in trust...trustees need to sign the deed, guarantees
the title only against acts by the trustees
23. Accretion Land gained by water deposits adding to land
24. Used for collecting information about the transfer of real property
, Assessor Exam Questions And Answers For A+ Score
2026!!!
Real Estate Trans-
fer Return
25. Agricultural Use value
Property Value
Standard
26. Principle of Con- Value of an improvement by the amount it contributes to market value, not by its
tribution cost
27. Valuation Con- Market conditions, neighborhood analysis, physical, economic, governmental,
siderations and social factors
28. Property Consid- Conservation easements, zoning, special zoning restrictions, location, land, and
erations improvement factors, physical, and economic characteristics
29. Metes and Land identification system based on semi-permanent physical features or com-
Bounds pass bearings
30. Township divided into 36 sections, each section 1 mile square containing 640 acres
31. Residential Sub- Commonly described by the lot and block system of land
divisions
32. Fractional Sec- Corrections are made on the north and/or west side of townships and sections
tions
33. Baselines East/west with the Wisconsin baseline being the WI/Il border
34. Meridians North/south with WI being the 4th principal meridian
35. How Many 43,650 square feet
Square Feet in an
Acre?
, Assessor Exam Questions And Answers For A+ Score
2026!!!
36. NE1/4 NE1/4 10 acres
SW1/4
37. What Establishes Asking price
the Upper Limit
of Value?
38. What Establishes Ottering price
the Lower Limit
of Value?
39. Best Source of Direct interview of the seller or buyor
Verification/Doc-
umentation of
Sales Data
40. Greatest Degree 1. social
of Comparability 2. economic
is Influenced by 3. legal (governmental)
what Factors? 4. physical
41. Units of Compar- 1. front foot
ison for the Val- 2. square foot
uation of Vacant 3. acre
Land are... 4. section
42. Units of Compar- 1. square foot of building
ison for the Valu- 2. dwelling unit
ation of Residen- 3. gross rent multiplier
tial properties... 4. bedroom
43. Units of Compar- 1. apartment unit
ison for the Val- 2. apartment room
