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IAAO 101 Exam With 100% Correct And Verified Answers
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IAAO 101 Exam With 100% Correct And Verified Answers
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IAAO 101 Exam With 100% Correct AndVerified 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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