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Exam (elaborations)

IAAO 101 Exam With 100% Correct And Verified Answers

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  • Course
  • Iaao 101
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  • Iaao 101

IAAO 101 Exam With 100% Correct And Verified Answers

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  • August 15, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Iaao 101
  • Iaao 101
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IAAO 101 Exam With 100% Correct And
Verified Answers

_________ consists of movable items not permanently
affixed to, or part of the real estate - Correct Answer-
Personal Property


_________ divided by the assessed value equals the tax rate.
- Correct Answer-Budget


_________ is the physical land and everything permanently
attached to it. - Correct Answer-Real Estate


A Township is divided into how many square mile sections?
- Correct Answer-36


Abstraction Method - Correct Answer-This method involves
subtracting the depreciated replacement cost of
improvements from the sale price of an improved property
to get the land value. Formula: Sale Price - Depreciated
Value of Improvements = Land Value


ad valorem - Correct Answer-According to Value



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, Allocation Method - Correct Answer-This method may be
helpful when no sales of vacant land sales are available for
comparison. Formula: Sales Price ÷ Land Value = Number
of Parts


Assemblage - Correct Answer-is the merging of adjacent
properties into one common ownership. The unit value does
not change


Assessment level times the tax rate equals - Correct Answer-
The effective tax rate


Cadastral Map - Correct Answer-A complete set of maps
showing boundaries, parcel size, sales information, and
other relevant features.


Comparative Unit Method - Correct Answer-This method is
the easiest, fastest, and most widely used method of cost
estimation. Formula: Costs ÷ Appropriate (Sq ft of floor or
cubic feet) = cost per unit


Cost manual desired features are as follows: - Correct
Answer-1. Be applicable to most structure types
2. Be based on actual costs


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