IAAO 101 | Questions with 100% Verified Answers | Latest
Update 2026/2027
Question: Ownership of a property is the right to
Answer: Sell Lease or rent Use Give away Enter or leave Refuse to do any of the above
Question: Factors that influence DEMAND
Answer: Consumers taste and preference Consumer income Price of related commodities Consumer
expectations The price of the commodity
Question: Factors that influence/effect land value
Answer: Physical Economic Governmental Social
Question: Basic responsibilities of an appraiser to all taxable
Answer: Discovery Listing Valuation
Question: Governmental restrictions on property
Answer: Taxable Eminent Doman Police Power Escheat
Question: Attributes of land are
Answer: Permanent Unique Finite supply Functional Stationary
Question: Land that had been developed to the extent that it is ready to be built
Answer: Site
Question: Sorting data in homogeneous groups with the primary sort being by market area
Answer: Stratification
Question: The order of adjustments in the direct sales comparison method are as follows
Answer: Financing Market conditions Location and physical characteristics
Question: Merging of adjacent properties into one common ownership and the unit value does not change is
Answer: Assemblage
Question: Methods of land valuation
Answer: Sales comparison Allocation Abstraction Anticipated use or development Capitalization of ground rent
Land residual capitalization
Question: The combining of two or more sites creating a site that has greater utility and an increase unit value
Answer: Plottage
Question: A complete set of maps showing boundaries, parcel size, sales information, and other relevant
features
Answer: Cadastral Map
, Question: 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
Question: Basic units of comparison
Answer: Front foot Square foot Acre
Question: Desirable characteristics recommended for a parcel identification system
Answer: Uniqueness Permanence Simplicity Ease of maintenance Flexibility Reference to geographic location
Question: Selection of comparable properties in to sales comparison approach, should consider
Answer: Financing Current market conditions ( date of sale) Similar in location Similar in size, age, and
condition Similar in design type Similar in construction type Affected by the same for forces that influence
value Similar physical attributes
Question: Assessment level × tax rate =
Answer: Effective tax rate
Question: Curable physical deterioration is measured by
Answer: Cost to Cure
Question: The cost of production an exact replica of a building or improvement
Answer: Reproduction Cost
Question: The basis for the adjustment in the sales comparison approach to value in the principle of
Answer: Contribution
Question: Which principle states that maximum value of a neighborhood is attained when the uses of land are
perfectly complementary ( 4 agents of production are balance - land, labor, capitol, and management)
Answer: Balance
Question: A unit of comparison that would be applicable to agricultural farmland or larger rural residential
tracts would be the
Answer: Price per acre
Question: Types of neighborhood boundaries
Answer: Man-made Political Natural
Question: Determine ratio of land value to building value in similar neighborhoods that have vacant land sales
Answer: Allocation
Question: The difference between the market value of an improvement and its cost at the time of appraisal
Answer: Depreciation
Question: Value of a property depends on its relationship to its surroundings, maximum market value is
achieved when reasonable similarities among improvements in the neighborhood.
Answer: Principle of Conformity
Update 2026/2027
Question: Ownership of a property is the right to
Answer: Sell Lease or rent Use Give away Enter or leave Refuse to do any of the above
Question: Factors that influence DEMAND
Answer: Consumers taste and preference Consumer income Price of related commodities Consumer
expectations The price of the commodity
Question: Factors that influence/effect land value
Answer: Physical Economic Governmental Social
Question: Basic responsibilities of an appraiser to all taxable
Answer: Discovery Listing Valuation
Question: Governmental restrictions on property
Answer: Taxable Eminent Doman Police Power Escheat
Question: Attributes of land are
Answer: Permanent Unique Finite supply Functional Stationary
Question: Land that had been developed to the extent that it is ready to be built
Answer: Site
Question: Sorting data in homogeneous groups with the primary sort being by market area
Answer: Stratification
Question: The order of adjustments in the direct sales comparison method are as follows
Answer: Financing Market conditions Location and physical characteristics
Question: Merging of adjacent properties into one common ownership and the unit value does not change is
Answer: Assemblage
Question: Methods of land valuation
Answer: Sales comparison Allocation Abstraction Anticipated use or development Capitalization of ground rent
Land residual capitalization
Question: The combining of two or more sites creating a site that has greater utility and an increase unit value
Answer: Plottage
Question: A complete set of maps showing boundaries, parcel size, sales information, and other relevant
features
Answer: Cadastral Map
, Question: 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
Question: Basic units of comparison
Answer: Front foot Square foot Acre
Question: Desirable characteristics recommended for a parcel identification system
Answer: Uniqueness Permanence Simplicity Ease of maintenance Flexibility Reference to geographic location
Question: Selection of comparable properties in to sales comparison approach, should consider
Answer: Financing Current market conditions ( date of sale) Similar in location Similar in size, age, and
condition Similar in design type Similar in construction type Affected by the same for forces that influence
value Similar physical attributes
Question: Assessment level × tax rate =
Answer: Effective tax rate
Question: Curable physical deterioration is measured by
Answer: Cost to Cure
Question: The cost of production an exact replica of a building or improvement
Answer: Reproduction Cost
Question: The basis for the adjustment in the sales comparison approach to value in the principle of
Answer: Contribution
Question: Which principle states that maximum value of a neighborhood is attained when the uses of land are
perfectly complementary ( 4 agents of production are balance - land, labor, capitol, and management)
Answer: Balance
Question: A unit of comparison that would be applicable to agricultural farmland or larger rural residential
tracts would be the
Answer: Price per acre
Question: Types of neighborhood boundaries
Answer: Man-made Political Natural
Question: Determine ratio of land value to building value in similar neighborhoods that have vacant land sales
Answer: Allocation
Question: The difference between the market value of an improvement and its cost at the time of appraisal
Answer: Depreciation
Question: Value of a property depends on its relationship to its surroundings, maximum market value is
achieved when reasonable similarities among improvements in the neighborhood.
Answer: Principle of Conformity
