Iaao - Study guides, Class notes & Summaries

IAAO 501 Exam Questions And Answers 100% Pass Audit - answerSystematic and methodical examination of records with the intent to berify their accuracy Financial Accounting Standards Board (FASB) - answerEstablishes the guidelines that are referred to as the Generally Accepted Accounting Principles (GAAP) Four major categories of personal property are - answerInventories Fixed Assets Leasehold improvements Intangibles Inventories - answerExample is goods in process Three characteristics...

Land - The surface of the earth and everything above and beneath it . Attributes of Land - Permanent, Unique, Finite Supply, Functional and Stationary Characteristics of Land - Demand, Utility, Scarcity and Transferability Raw land - unimproved land in its natural state prior to grading, construction and subdividing. Agricultural land - referred to as undeveloped land except when platted subdivision Improved land - Improvements that prepare the land for development (to be built up...

Anticipation - ANSWER-Value is created by the expectation of benefits to be derived in the future Substitution - ANSWER-the prices, rents, and rates of return of property tend to be set by the current prices, rents and rates of return for equally desire able substitute properties. Contribution - ANSWER-the value of a component of real estate can be measured by the amount it contributes to net operating income because net operating income can be capitalized into value. Market Value - ANS...

IAAO Course 300 (2022/2023) Already Passed Mass appraisal Systematic appraisal of groups of properties as of a given date using standardized procedures and statistical testing. Purpose of mass appraisal Equitable and efficient appraisal of all property in a jurisdiction for ad valorem tax purposes. When did first generation computers emerge? The 1950s Mass appraisal models may be: Physical, conceptual or mathematical. Property valuation models seek to explain or predict what? The market valu...

IAAO 201 Land

Indirect methods of measuring depreciation - Answer- -Sales comparison (Market Extraction) -Capitalization of income method Financing - Answer- The first adjustment in the sales comparison approach is Sales Comparison Approach - Answer- A fundamental strength in this approach is that it reflects the actions of the marketplace as well as what by buyers & sellers are actually doing doing and paying. -Consumer tastes/preferences -Consumer income -Price of related commodities -Consumer ...

IAAO 112 2023-2024|SOLVED&UPDATED|DOWNLOAD TO PASS

The property tax is an ____ __________ tax, meaning it is based on value. correct answers ad valorem The assessor is responsible for the _______, ________, and __________ of all taxable property. correct answers discovery listing valuation The taxable location of personal property is referred to as its __________. correct answers situs An estimate of value, usually in writing, of an adequately described property, as of a given date, is termed ___ ___________. correct answers an apprai...

IAAO 102 Questions and Answers Already Graded A Anticipation Value is created by the expectation of benefits to be derived in the future Substitution the prices, rents, and rates of return of property tend to be set by the current prices, rents and rates of return for equally desire able substitute properties. Contribution the value of a component of real estate can be measured by the amount it contributes to net operating income because net operating income can be capitalized into value. Mar...