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IAAO 101 ACTUAL EXAM STUDY GUIDE
QUESTIONS AND ANSWERS TESTED AND
APPROVED NEWLY APPROVED!!!
Attributes of land are -- ANSWER--Permanent
Unique
Finite supply
Functional
Stationary
Land that had been developed to the extent that it is ready to be built --
ANSWER--Site
Sorting data in homogeneous groups with the primary sort being by market area
-- ANSWER--Stratification
The order of adjustments in the direct sales comparison method are as follows --
ANSWER--Financing
Market conditions
, 2
Location and physical characteristics
Merging of adjacent properties into one common ownership and the unit value
does not change is -- ANSWER--Assemblage
Desirable characteristics recommended for a parcel identification system --
ANSWER--Uniqueness
Permanence
Simplicity
Ease of maintenance
Flexibility
Reference to geographic location
Methods of land valuation -- ANSWER--Sales comparison
Allocation
Abstraction
Anticipated use or development
Capitalization of ground rent
Land residual capitalization
, 3
The combining of two or more sites creating a site that has greater utility and an
increase unit value -- ANSWER--Plottage
A complete set of maps showing boundaries, parcel size, sales information, and
other relevant features -- ANSWER--Cadastral Map
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. -- ANSWER--Metes and Bounds
Basic units of comparison -- ANSWER--Front foot
Square foot
Acre
Ownership of a property is the right to -- ANSWER--Sell
Lease or rent
Use
Give away
Enter or leave
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, 4
Refuse to do any of the above
Factors that influence DEMAND -- ANSWER--Consumers taste and preference
Consumer income
Price of related commodities
Consumer expectations
The price of the commodity
Factors that influence/effect land value -- ANSWER--Physical
Economic
Governmental
Social
Basic responsibilities of an appraiser to all taxable -- ANSWER--Discovery
Listing
Valuation
Governmental restrictions on property -- ANSWER--Taxable
Eminent Doman
IAAO 101 ACTUAL EXAM STUDY GUIDE
QUESTIONS AND ANSWERS TESTED AND
APPROVED NEWLY APPROVED!!!
Attributes of land are -- ANSWER--Permanent
Unique
Finite supply
Functional
Stationary
Land that had been developed to the extent that it is ready to be built --
ANSWER--Site
Sorting data in homogeneous groups with the primary sort being by market area
-- ANSWER--Stratification
The order of adjustments in the direct sales comparison method are as follows --
ANSWER--Financing
Market conditions
, 2
Location and physical characteristics
Merging of adjacent properties into one common ownership and the unit value
does not change is -- ANSWER--Assemblage
Desirable characteristics recommended for a parcel identification system --
ANSWER--Uniqueness
Permanence
Simplicity
Ease of maintenance
Flexibility
Reference to geographic location
Methods of land valuation -- ANSWER--Sales comparison
Allocation
Abstraction
Anticipated use or development
Capitalization of ground rent
Land residual capitalization
, 3
The combining of two or more sites creating a site that has greater utility and an
increase unit value -- ANSWER--Plottage
A complete set of maps showing boundaries, parcel size, sales information, and
other relevant features -- ANSWER--Cadastral Map
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. -- ANSWER--Metes and Bounds
Basic units of comparison -- ANSWER--Front foot
Square foot
Acre
Ownership of a property is the right to -- ANSWER--Sell
Lease or rent
Use
Give away
Enter or leave
Page | 3
, 4
Refuse to do any of the above
Factors that influence DEMAND -- ANSWER--Consumers taste and preference
Consumer income
Price of related commodities
Consumer expectations
The price of the commodity
Factors that influence/effect land value -- ANSWER--Physical
Economic
Governmental
Social
Basic responsibilities of an appraiser to all taxable -- ANSWER--Discovery
Listing
Valuation
Governmental restrictions on property -- ANSWER--Taxable
Eminent Doman
