IAAO 101 Actual Exam Complete Questions And
Correct Answers (Verified Answers) Already
Graded A+ || Guaranteed Success!! Newest
Exam | Just Released!! 2026 -2027
Which of the following is a basic right associated with the ownership of property?
A. to use
B. to lease or rent
C. to enter or leave
D. All of the above
In order for a property to have value, it must have utility, scarcity, desirability,
and effective purchasing power. the economic forces that determine
scarcity are
_______________________________________________________________________________ _
.
supply and demand
___________ is the point at which the forces of supply and demand meet the point
of
balance.
equilibrium
A/an ______ interest is ownership of all the rights in a property, except those
reserved
by the government, and with no private encumbrances.
fee simple
, In the appraisal process, data collection requires the assessor to collect
A. general data
B. specific data
C. comparative data
D. All of the above
Which of the following is not one of the four great forces by which value is
created, maintained, modified or destroyed?
conceptual
A _________ may be defined as an area of complementary land uses in which all
properties are similarly influenced by the four forces affecting value.
neighborhood
What element of the marketplace is likely to contribute to a change in demand?
consumer expectations
What element of the marketplace is likely to contribute to a change in supply?
entrepreneur expectations
A township in the Public Land Survey System contains sections, with each section
containing _ acres.
36
640
Correct Answers (Verified Answers) Already
Graded A+ || Guaranteed Success!! Newest
Exam | Just Released!! 2026 -2027
Which of the following is a basic right associated with the ownership of property?
A. to use
B. to lease or rent
C. to enter or leave
D. All of the above
In order for a property to have value, it must have utility, scarcity, desirability,
and effective purchasing power. the economic forces that determine
scarcity are
_______________________________________________________________________________ _
.
supply and demand
___________ is the point at which the forces of supply and demand meet the point
of
balance.
equilibrium
A/an ______ interest is ownership of all the rights in a property, except those
reserved
by the government, and with no private encumbrances.
fee simple
, In the appraisal process, data collection requires the assessor to collect
A. general data
B. specific data
C. comparative data
D. All of the above
Which of the following is not one of the four great forces by which value is
created, maintained, modified or destroyed?
conceptual
A _________ may be defined as an area of complementary land uses in which all
properties are similarly influenced by the four forces affecting value.
neighborhood
What element of the marketplace is likely to contribute to a change in demand?
consumer expectations
What element of the marketplace is likely to contribute to a change in supply?
entrepreneur expectations
A township in the Public Land Survey System contains sections, with each section
containing _ acres.
36
640
