IAAO 101 Chapter 2 Exam Solution Manual Fully Solved Latest Update 2025
The 4 factors affecting land values are: - Answers 1. physical
2. economic
3. governmental
4.social
the principle of surplus productivity states that returns to land are what remain after returns to labor,
management, and capital are satisfied - Answers surplus productivity
list the six methods of land valuation - Answers 1. direct sales comparison
2. allocation
3.abstraction
4. anticipated use or development
5. capitalization of ground rent
6 land residual technique
Maps showing boundaries, parcel size, sales information, and other relevant features of all parcels in a
jurisdiction is a necessary tool for assessors. - Answers cadastral maps
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: - Answers metes and
bounds
a township in the public land survey system contains ___ sections, with each sections containing
_________ acres - Answers 36 sections, 640 acres
See image in book chapter 2 review - Answers S1/2NE1/4NE1/4
See image in book chapter 2 review - Answers the shaded area in the previous question contains 20
acres
When land is values by using the direct sales comparison approach, sales must first be ______________
into homogeneous groups. - Answers stratified
improvements such as streets, sidewalks, and the availability of utilities are considered __________
improvements. - Answers off-site
Which method of land valuation compares the property being appraised to comparable vacant parcels
that have recently sold? - Answers direct sales comparison
The 4 factors affecting land values are: - Answers 1. physical
2. economic
3. governmental
4.social
the principle of surplus productivity states that returns to land are what remain after returns to labor,
management, and capital are satisfied - Answers surplus productivity
list the six methods of land valuation - Answers 1. direct sales comparison
2. allocation
3.abstraction
4. anticipated use or development
5. capitalization of ground rent
6 land residual technique
Maps showing boundaries, parcel size, sales information, and other relevant features of all parcels in a
jurisdiction is a necessary tool for assessors. - Answers cadastral maps
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: - Answers metes and
bounds
a township in the public land survey system contains ___ sections, with each sections containing
_________ acres - Answers 36 sections, 640 acres
See image in book chapter 2 review - Answers S1/2NE1/4NE1/4
See image in book chapter 2 review - Answers the shaded area in the previous question contains 20
acres
When land is values by using the direct sales comparison approach, sales must first be ______________
into homogeneous groups. - Answers stratified
improvements such as streets, sidewalks, and the availability of utilities are considered __________
improvements. - Answers off-site
Which method of land valuation compares the property being appraised to comparable vacant parcels
that have recently sold? - Answers direct sales comparison
