Summary IAAO 101 - Review || Most Recent Exam 2026
-2027 Actual Complete Real Exam Questions And
Correct Answers (Verified Answers) Already Graded
A+ | Guaranteed Success!! Newest Exam | Just
Released!!
The first step in the cost approach is
________________________________________. - ANSWER -to
estimate the land (site) value as if vacant and available for
development to its highest and best use.
Building A contains 10,000 square feet and is 100' x 100'.
Building B contains
10,000 square feet and is 50' x 200'. Will it cost more to build
Building A or Building B? - ANSWER -Building B because it has
more linear feet compared to Building A.
Architectural fees, insurance and title expenses are considered
______ _____
and are sometimes called soft costs. - ANSWER -
indirect ocsts
__________ ______ is the cost of producing an exact replica
of a building or
improvement. - ANSWER -
Reproduction cost
,__________ ______ is the cost of producing a building or
improvement using modern methods and materials with the
same utility. - ANSWER -Replacement cost
Building A was constructed 20 years ago at a cost of $400,000.
The index 20
years ago was 200. The current index is 350. Reproduction
cost new for
Building A would be ____________. - ANSWER
-$700,000
Cost components such as the floor, roof or roofing are
considered _________
costs and are expressed as cost per square foot. -
ANSWER -horizontal
The easiest, fastest, and most widely used method of
estimating cost is the
_____________________ method. - ANSWER -comparative unit
(square foot)
The difference between the market value of an improvement
and its cost at the
time of appraisal is termed __________. - ANSWER -
depreciation
The five methods of measuring depreciation are: - ANSWER -
Sales comparison
, method
Capitalization of income
method
Economic age-life
method
Modified economic age-life
method
Observed condition (breakdown)
method
Property B sold for $180,000 with an estimated land value of
$80,000. The RCN
for the improvement is $200,000. Depreciation is _____
percent. - ANSWER -
50
Curable physical deterioration is measured by
______________. - ANSWER -
cost to
cure
___________ obsolescence is a loss in value due to
a deficiency,
modernization, or superadequacy within the structure. -
ANSWER -Functional
___________ obsolescence is a loss in value resulting from a
decrease in utility
-2027 Actual Complete Real Exam Questions And
Correct Answers (Verified Answers) Already Graded
A+ | Guaranteed Success!! Newest Exam | Just
Released!!
The first step in the cost approach is
________________________________________. - ANSWER -to
estimate the land (site) value as if vacant and available for
development to its highest and best use.
Building A contains 10,000 square feet and is 100' x 100'.
Building B contains
10,000 square feet and is 50' x 200'. Will it cost more to build
Building A or Building B? - ANSWER -Building B because it has
more linear feet compared to Building A.
Architectural fees, insurance and title expenses are considered
______ _____
and are sometimes called soft costs. - ANSWER -
indirect ocsts
__________ ______ is the cost of producing an exact replica
of a building or
improvement. - ANSWER -
Reproduction cost
,__________ ______ is the cost of producing a building or
improvement using modern methods and materials with the
same utility. - ANSWER -Replacement cost
Building A was constructed 20 years ago at a cost of $400,000.
The index 20
years ago was 200. The current index is 350. Reproduction
cost new for
Building A would be ____________. - ANSWER
-$700,000
Cost components such as the floor, roof or roofing are
considered _________
costs and are expressed as cost per square foot. -
ANSWER -horizontal
The easiest, fastest, and most widely used method of
estimating cost is the
_____________________ method. - ANSWER -comparative unit
(square foot)
The difference between the market value of an improvement
and its cost at the
time of appraisal is termed __________. - ANSWER -
depreciation
The five methods of measuring depreciation are: - ANSWER -
Sales comparison
, method
Capitalization of income
method
Economic age-life
method
Modified economic age-life
method
Observed condition (breakdown)
method
Property B sold for $180,000 with an estimated land value of
$80,000. The RCN
for the improvement is $200,000. Depreciation is _____
percent. - ANSWER -
50
Curable physical deterioration is measured by
______________. - ANSWER -
cost to
cure
___________ obsolescence is a loss in value due to
a deficiency,
modernization, or superadequacy within the structure. -
ANSWER -Functional
___________ obsolescence is a loss in value resulting from a
decrease in utility
