Iaao Study guides, Class notes & Summaries
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IAAO Course 300 Exam Questions with All Complete Solutions
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IAAO Course 300 Exam Questions with All Complete Solutions 
Scope of Work Rule - 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 - 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 the sam...
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iaao 101 Exam Questions with correct Answers
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ad valorem - Answer- According to Value 
 
The basic responsibilities of an Appraiser to all taxable property. - Answer- 1. Discovery 
2. Listing 
3. Valuation 
 
The taxable location of personal property is referred to as its' - Answer- Situs 
 
The type of value usually estimated by an Appraiser is the - Answer- Market Value 
 
The effective tax rate reflects the ratio between what - Answer- The current tax bill and the property value 
 
Assessment level times the tax rate equals - Answer- Th...
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IAAO 102 Quiz 2
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A gross income multiplier (GIM), as used in a commercial appraisal, is obtained by dividing the ____________________________. 
 
A. sale price by annual gross income 
B. sale price by monthly gross income 
C. overall capitalization rate by the sale price 
D. annual gross income by the sale price - Answer- A gross income multiplier (GIM), as used in a commercial appraisal, is obtained by dividing the ____________________________. 
 
A. sale price by annual gross income 
B. sale price by monthly g...
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IAAO 102 Exam 2023 with Complete Solutions
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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...
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IAAO Course 300 BUNDLED exam 2023 with 100% correct answer
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IAAO Course 300 exam 2023 with 100% correct answer
IAAO Course 300 exam 2023 with 100% correct answer
Too much month left at the end of the money?
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IAAO 101 - Review Questions and verified answers latest 2023/2024 complete solution
- Exam (elaborations) • 11 pages • 2023
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IAAO 101 - Review Questions and verified answers latest 2023/2024 complete solution
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IAAO Course 300 (2022/2023) Already Passed
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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...
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IAAO 101 - Review Questions; A+ GUARANTEED
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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...
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IAAO 400 2023 Quizzes with Complete Solutions
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Which of the following is an attribute of an effective assessment system? - ANSWER-An appropriate legal framework. 
A competent staff and an effective training program. 
Complete maps and property data 
 
All of the above 
 
The ______________________ principle states that authority and responsibility should flow vertically from the highest level to the lowest level, following what is commonly called "the chain of command." - ANSWER-Scalar 
 
As an organization grows, various portions of a par...
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IAAO 102 Questions and Answers Already Graded A
- Exam (elaborations) • 6 pages • 2023
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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...
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