This is basically an inline IF statement. What it does is take a IF 
statement, evaluates it and if true runs the first result clause or if false 
runs the second:
IIF(comparison statement, true result, false result)
IIF(Name IS 'Michael', 1, 0)
If a variable called name has a value of michael, the function returns a 
value of 1. Otherwise it returns a value of 0.

Here's an old article of mine on it:
http://www.fusionauthority.com/iif.cfm

> Can someone please explain this function to me in the simplest of terms?
>
> Thanks
> Tgirl
>
> 

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