Exam (elaborations)
IAAO 201 - QUIZ 1 - NO MATH QUESTIONS
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IAAO 201 - QUIZ 1 - NO MATH QUESTIONS
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IAAO 201 - QUIZ 1 - NO MATH QUESTIONSWhich of the following is not a unit of comparison?hat - Answers -Buildable units
Acres
Square foot
Cubic yard
The return to the investor for taking the investment risk on a development is: - Answers
-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: - Answers -Plottage
What unit of comparison is typically used for commercial retail properties? - Answers -
Front Foot
_________________ 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. - Answers -Metes and bounds
Market value of the land is only valid as of the date of the appraisal. This reflects the
appraisal principle of __________________. - Answers -Change
Land by definition: - Answers -Is ground, soil and everything attached to it.
Encompasses everything down to the core of the earth.
Includes minerals, rocks, oil, gas, water, or any other substance found on earth.
All of the above
______________ show the boundaries of parcels and displays the size and location of
each parcel relative to other properties. - Answers -Cadastral maps
The land valuation method that converts rents or leases of land into value by
capitalizing net income is the: - Answers -Capitalization of Ground Rents
One of the governmental restrictions on ownership rights is: - Answers -Eminent domain
The temporary use of a site or improved property until it becomes financially feasible to
convert it to a higher use value is: - Answers -Interim Uses
The concept of _________________ maintains that an improved parcel must be valued
based on the highest and best use of the property as a whole, not just the improvement.
- Answers -Consistent Use
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