IAAO 101 – Quizzes with Verified Answers
1. The basic responsibilities of the
assessor are to all
taxable property.
2. One of the steps an assessor
must take in the discovery of
property is to:
3. The property tax is a/an
tax, mean-
ing it is based on value.
4. Assume the following char...
9. is the physical real estate
land and everything permanent-
ly attached to it.
10. Which of the following is a eminent domain
governmental restriction to the
"bundle of rights"?
11. Which of the following is a basic A. to use
right associated with the owner- B. to lease or rent
ship of property? C. to enter or leave
D. All of the above
12. In order for a property to have supply and demand
value, it must have utility, scarci-
ty, desirability, and effective pur-
chasing power. the economic
forces that determine scarcity
are .
13. is the point at equilibrium
which the forces of supply and
demand meet --- the point of bal-
ance.
14. A/an interest is fee simple
ownership of all the rights in a
property, except those reserved
by the government, and with no
private encumbrances.
15. In the appraisal process, data A. general data
collection requires the asses- B. specific data
sor to collect C. comparative data
2/7
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