IAAO 101 PREP EXAM - LATEST PRACTICE
QUESTIONS AND 100% VERIFIED CORRECT
ANSWERS | COMPLETE EXAM PREP TESTBANK |
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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. - ANSWER- cadastral
The practice of measuring the direction of property lines with compass bearings
and the distance with measuring chains or tapes in order to obtain a property
description is known as ______ ______ ______. - ANSWER- metes and bounds
A township in the Public Land Survey System contains ____ sections, with each
section containing _____ acres. - ANSWER- 36
640
When land is valued by using the direct sales comparison approach , sales must
first be ________ into homogeneous groups. - ANSWER- stratified
Improvements such as streets, sidewalks, and the availability of utilities are
considered _________ improvements. - ANSWER- off-site
,Which method of land valuation compares the property being appraised to
comparable vacant parcels that have recently sold? - ANSWER- direct sales
comparison
Front foot, square foot and acre are examples of basic _____ of __________. -
ANSWER- units comparison
In the direct sales comparison approach to land valuation, adjustments are always
made to the
________ property, never to the _______ property. - ANSWER- comparable
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. - ANSWER-
negative
A method of valuing land that subtracts the depreciated value of the improvement
from the sale price is known as _________. - ANSWER- abstraction
The preferred method of valuing land if adequate data is available is the -
ANSWER- Direct sales comparison method
, A land-to-building ratio of 1:4 means land represents ____ percent of the value. -
ANSWER- 20
The appropriate map scale for suburban areas and small towns is - ANSWER- 1" =
200'
The merging of adjacent parcels into one common ownership without creating an
increase in the unit value is known as _________. - ANSWER- assemblage
The property account number, linking ownership records, tax maps and assessment
records, is known as the _________ ________. - ANSWER- parcel identifier
Land that has been developed to the extent that it is ready to be built upon is
considered _____. - ANSWER- site
The concept of ________ ______ ______ _____ means that the market value of
vacant land depends on potential use rather than current use alone. - ANSWER-
highest and best use
Factors affecting land values such as size, topography, and location are termed
__________ factors. - ANSWER- physical (environmental)
QUESTIONS AND 100% VERIFIED CORRECT
ANSWERS | COMPLETE EXAM PREP TESTBANK |
GUARANTEED PASS | INSTANT DOWNLOAD PDF
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. - ANSWER- cadastral
The practice of measuring the direction of property lines with compass bearings
and the distance with measuring chains or tapes in order to obtain a property
description is known as ______ ______ ______. - ANSWER- metes and bounds
A township in the Public Land Survey System contains ____ sections, with each
section containing _____ acres. - ANSWER- 36
640
When land is valued by using the direct sales comparison approach , sales must
first be ________ into homogeneous groups. - ANSWER- stratified
Improvements such as streets, sidewalks, and the availability of utilities are
considered _________ improvements. - ANSWER- off-site
,Which method of land valuation compares the property being appraised to
comparable vacant parcels that have recently sold? - ANSWER- direct sales
comparison
Front foot, square foot and acre are examples of basic _____ of __________. -
ANSWER- units comparison
In the direct sales comparison approach to land valuation, adjustments are always
made to the
________ property, never to the _______ property. - ANSWER- comparable
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. - ANSWER-
negative
A method of valuing land that subtracts the depreciated value of the improvement
from the sale price is known as _________. - ANSWER- abstraction
The preferred method of valuing land if adequate data is available is the -
ANSWER- Direct sales comparison method
, A land-to-building ratio of 1:4 means land represents ____ percent of the value. -
ANSWER- 20
The appropriate map scale for suburban areas and small towns is - ANSWER- 1" =
200'
The merging of adjacent parcels into one common ownership without creating an
increase in the unit value is known as _________. - ANSWER- assemblage
The property account number, linking ownership records, tax maps and assessment
records, is known as the _________ ________. - ANSWER- parcel identifier
Land that has been developed to the extent that it is ready to be built upon is
considered _____. - ANSWER- site
The concept of ________ ______ ______ _____ means that the market value of
vacant land depends on potential use rather than current use alone. - ANSWER-
highest and best use
Factors affecting land values such as size, topography, and location are termed
__________ factors. - ANSWER- physical (environmental)
