IAAO COURSE 101 EXAM PREP QUESTIONS
WITH CORRECT ANSWERS 2025/2026
The Four Factors affecting Land Value are as follows: - CORRECT ANSWER -1. Physical
2. Economic
3. Governmental
4. Social
The Principle of ___ states that returns to land are what remain after returns to labor,
management, and capital are satisfied. - CORRECT ANSWER -Surplus Productivity
List the six methods of land valuation - CORRECT ANSWER -1. Direct Sales Comparison
2. Allocation
3. Abstraction
4. Anticipated Use or Development
5. Capitalization of Ground Rent
6. Land Residual Capitalization
A complete set of ___ maps showing boundaries, parcel size, sales information, and other
relevant features of all parcels in a jurisdiction is a necessary tool for assessors. - CORRECT
ANSWER -Cadastral
The practice of measuring the directions of property lines with compass bearings and the
distance with measuring chains or tapes in order to obtain a property description is known as: -
CORRECT ANSWER -Metes & Bounds
A township in the public land survey system contains ___ sections, with each section containing
___ acres. - CORRECT ANSWER -36 & 640
, When land is valued by using the direct sales comparison approach, sales must first be ___ into
homogenous groups. - CORRECT ANSWER -stratified
Improvements such as streets, sidewalks, and the availability of utilities are considered ___
improvements. - CORRECT ANSWER -off-site
Which method of land valuation compares the property being appraised to comparable vacant
parcels that have recently sold? - CORRECT ANSWER -Direct Sales Comparison
Front foot, square foot, and acre are examples of basic ___ of ___ - CORRECT ANSWER -Units of
Comparison
In the direct sales comparison approach to land valuation, adjustments are always made to the
___ not the ___ property. - CORRECT ANSWER -comparable not the subject
If a comparable lot that sold is superior in some aspect to the subject lot, a ___ adjustment
would be made to the comparable property - CORRECT ANSWER -negative
A method of valuing land that subtracts the depreciated value of the improvement from the
sale price is known as - CORRECT ANSWER -Abstraction
The preferred method of valuing land if adequate data are available is the _____ - CORRECT
ANSWER -Direct Sales Comparison Approach
A land to building ratio of 1:4 means land represents ___ percent of the value. - CORRECT
ANSWER -20%
The appropriate map scale for suburban areas and small towns is - CORRECT ANSWER -1-200"
WITH CORRECT ANSWERS 2025/2026
The Four Factors affecting Land Value are as follows: - CORRECT ANSWER -1. Physical
2. Economic
3. Governmental
4. Social
The Principle of ___ states that returns to land are what remain after returns to labor,
management, and capital are satisfied. - CORRECT ANSWER -Surplus Productivity
List the six methods of land valuation - CORRECT ANSWER -1. Direct Sales Comparison
2. Allocation
3. Abstraction
4. Anticipated Use or Development
5. Capitalization of Ground Rent
6. Land Residual Capitalization
A complete set of ___ maps showing boundaries, parcel size, sales information, and other
relevant features of all parcels in a jurisdiction is a necessary tool for assessors. - CORRECT
ANSWER -Cadastral
The practice of measuring the directions of property lines with compass bearings and the
distance with measuring chains or tapes in order to obtain a property description is known as: -
CORRECT ANSWER -Metes & Bounds
A township in the public land survey system contains ___ sections, with each section containing
___ acres. - CORRECT ANSWER -36 & 640
, When land is valued by using the direct sales comparison approach, sales must first be ___ into
homogenous groups. - CORRECT ANSWER -stratified
Improvements such as streets, sidewalks, and the availability of utilities are considered ___
improvements. - CORRECT ANSWER -off-site
Which method of land valuation compares the property being appraised to comparable vacant
parcels that have recently sold? - CORRECT ANSWER -Direct Sales Comparison
Front foot, square foot, and acre are examples of basic ___ of ___ - CORRECT ANSWER -Units of
Comparison
In the direct sales comparison approach to land valuation, adjustments are always made to the
___ not the ___ property. - CORRECT ANSWER -comparable not the subject
If a comparable lot that sold is superior in some aspect to the subject lot, a ___ adjustment
would be made to the comparable property - CORRECT ANSWER -negative
A method of valuing land that subtracts the depreciated value of the improvement from the
sale price is known as - CORRECT ANSWER -Abstraction
The preferred method of valuing land if adequate data are available is the _____ - CORRECT
ANSWER -Direct Sales Comparison Approach
A land to building ratio of 1:4 means land represents ___ percent of the value. - CORRECT
ANSWER -20%
The appropriate map scale for suburban areas and small towns is - CORRECT ANSWER -1-200"
