IAAO 201 EXAM STUDY GUIDE 2026
QUESTIONS WITH ANSWERS GRADED A+
◉ characteristics of Parcel identification systems. Answer: uniqueness
permanent
simplicity
ease of maintenance
flexibility
reference to location
◉ section = acres?. Answer: 640 acres
◉ acre = square ft?. Answer: 43560
◉ due to the curvature of he earth sections in __________of a township
are less then 1 sq mile.. Answer: n & w
◉ fractional / government lots. Answer: lots are quarter-quarter sections
with more or less then a full 40 acres
, ◉ lots & blocks. Answer: are the smallest land descriptions used in
populated areas
◉ criteria for highest & best use. Answer: legally permissable
physically possible
financially feasible
maximally productive
◉ principle of balance. Answer: when the 4 agents of production are
porportionate
◉ principle of substitution. Answer: MV is determined by the cost if
buying a equally desirable & valuable property
◉ improvements TO land. Answer: on site improvements, hard scaping,
paving, grading, landscaping sewers utility hook ups
◉ fundamental basis of land value. Answer: as though vacant
◉ personal interview. Answer: most effective way to obtain sales
verification & can be clarified immediately
QUESTIONS WITH ANSWERS GRADED A+
◉ characteristics of Parcel identification systems. Answer: uniqueness
permanent
simplicity
ease of maintenance
flexibility
reference to location
◉ section = acres?. Answer: 640 acres
◉ acre = square ft?. Answer: 43560
◉ due to the curvature of he earth sections in __________of a township
are less then 1 sq mile.. Answer: n & w
◉ fractional / government lots. Answer: lots are quarter-quarter sections
with more or less then a full 40 acres
, ◉ lots & blocks. Answer: are the smallest land descriptions used in
populated areas
◉ criteria for highest & best use. Answer: legally permissable
physically possible
financially feasible
maximally productive
◉ principle of balance. Answer: when the 4 agents of production are
porportionate
◉ principle of substitution. Answer: MV is determined by the cost if
buying a equally desirable & valuable property
◉ improvements TO land. Answer: on site improvements, hard scaping,
paving, grading, landscaping sewers utility hook ups
◉ fundamental basis of land value. Answer: as though vacant
◉ personal interview. Answer: most effective way to obtain sales
verification & can be clarified immediately
