Iaao course - Study guides, Class notes & Summaries

IAAO Course 101 Exam Review With 100% Correct And Verified Answers Tax Rate (def.) - Correct Answer-Percent of assessed value at which each property is taxed in a given district. Tax Rate (formula) - Correct Answer-Tax revenue (amount) / Assessed value Property Tax (formula) - Correct Answer-Subject assessed value / Tax rate Budget Revenue (formula) - Correct Answer-Total budget - Other taxes Effective Tax Rate (def.) - Correct Answer-Reflects the relationship between total prop...

IAAO Course 101 Review | Questions with 100% Correct Answers | Verified | Updated 2024

IAAO Course 300 Exam With 100% Correct And Verified Answers

IAAO COURSE 300

Capitalization is the process used to: convert income into an estimate of value fixed-rate mortgage A loan secured by real property featuring an interest rate that is constant for the term of the loan is referred to as a (an): anticipation The underlying principle providing the basis of the income capitalization approach is: income divided by rate equals value The basic equation used in the income approach to value is: deficit rent When market rent exceeds contra...

The Economic Principle of Anticipation states that value is created by the expectation of benefits to be derived in the future. The Economic Principle of Substitution states that a property's maximum value tends to be set by the lowest cost or price at which another property of equivalent utility can be acquired. Chattel A mortgage on personal property. Balloon payment A payment on the balance due of a note at the end of the loan term that is in excess of the regular pa...

IAAO Course 300 Questions And Answers Rated A+. Scope of Work Rule - correct answer. 1. Identify the problem to be solved 2. Determine and perform the scope of work necessary to develop credible assignment results 3. Disclose the scope of work in the report Scope of work acceptability - correct answer. When it meets or exceeds: 1. Expectations of parties who are regularly intended users for similar assignments and 2. What an Appraiser's peers actions would be in performing...

IAAO Course 300 Latest 2024 (Questions & Answers) Solved Correctly!!

Tax Rate (def.) - answer-Percent of assessed value at which each property is taxed in a given district. Tax Rate (formula) - answer-Tax revenue (amount) / Assessed value Property Tax (formula) - answer-Subject assessed value / Tax rate Budget Revenue (formula) - answer-Total budget - Other taxes Effective Tax Rate (def.) - answer-Reflects the relationship between total property taxes on real property and the property's market value. Effective Tax Rat...

IAAO 300: Complete Course Review Questions and Answers 100% Pass What is the main difference between single property appraisal and mass appraisal? 1. Group vs Particular 2. Mass Appraisal emphasizes standardized and statistical quality control features In the Appraisal Process, "Define the valuation problem" does not include which of the following: a. Define the Value to be developed b. Identify limiting conditions or limitations c. Date of the value d. Competitive properties e. Identify...