Iaao course - Study guides, Class notes & Summaries

IAAO Course 102- Review with Complete Solutions Components of Capitalization Process - ANSValue, Net Operating Income, and Capitalization Rate The underlying economic principle of 3 approaches to value - ANSsubstitution Market Value is also known as - ANSvalue in exchange Most probable price the property will sell for in an arm's-length transaction under normal conditions on the open market - ANSmarket value Higher Cap Rate - ANSMeans Higher Risk and Lower Overall Value Lower Cap Rate ...

Scope of Work Rule - ️️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 - ️️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 the same or similar assignments Economic Basis of Model Building - ️️Supply...

IAAO Course 300 Exam Questions With Precise Answers

IAAO Course 300- Review with Complete Solutions Scope of Work Rule - ANS1. 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 - ANSWhen 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 the same or similar assignments Econo...

Quiz #1 IAAO Course 102 with 100% correct answers.

IAAO Course 102- Review with Complete Solutions Anticipation - ANSThe economic principle of _______ states that value is created by the expectation of benefits to be derived in the future. Substitution - ANSThe economic principle of _________ 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. Income - ANSOne of three approaches to value in which the appraiser derives a value indication by co...

IAAO Course 402: Chapters 1-7 Latest Update with Verified Solutions In the form of government known as _____________, power is divided between central and regional governments. Federalism ______________ is the cultural concept related to legal relationships about things that can be possessed. Property The main difference between taxes and fees is that taxes are (BROAD / NARROW) and (PROVIDE / DO NOT PROVIDE) the tax payer a direct benefit. Broad Do not provide The U.S. property tax syst...

IAAO COURSE 102 with 100% correct answers

IAAO Course 101 Review Questions with Verified Answers Tax Rate (def.) Percent of assessed value at which each property is taxed in a given district. Tax Rate (formula) Tax revenue (amount) / Assessed value Property Tax (formula) Subject assessed value / Tax rate Budget Revenue (formula) Total budget - Other taxes Effective Tax Rate (def.) Reflects the relationship between total property taxes on real property and the property's market value. Effective Tax Rate (formula) Assessment rati...