IAAO 201- Quizzes/No Math Questions With Complete Answers

Which of the following is NOT a unit of comparison for vacant land? - Buildable units Acres Square foot Cubic yard The return to the investor for taking the investment risk on a development is: - Entrepreneurial Profit When parcels are combined to create a unit value that is greater than the total value of the individual parcels before being combined is: - Plottage What unit of comparison is typically used for commercial retail properties? - Front Foot If residential lots in a subdivision tend to sell for the same amount regardless of size, which of the following is the most appropriate unit of comparison. - Square feet Front feet All of the above (makes no difference) Site or lot When any component is valued based upon its contribution to the value of the whole, it is the appraisal principle of: - Contribution The SW1/4 SW1/4 SW1/4 contains ______ acres. - 10 Land that cannot be sold off or functionally used because of the limitations of its size or other physical characteristics is: - Surplus Land The four agents of production; land, labor, capital, and management are based on the economic principle of ____________. - Balance ___________________ is a description of a parcel of land accomplished by beginning at a known reference point, proceeding to a point on the perimeter of the property being described, and then tracing the boundaries, using angles and distances, until returning to the point of beginning. - Metes and bounds