IAAO 101 | Questions with 100% Verified Answers | Latest
Update 2026/2027
Question: Tax Rates
Answer: Calculated from the total assessed vlaue
Question: Sales, Cost, Income
Answer: 3 approaches to appraisal
Question: Physical, Economic, Government, Social
Answer: The four factors that influence value
Question: Maps
Answer: These are used for the discovery of property
Question: Discover, List, Value
Answer: Appraisers basic responsibilities are
Question: Tax Rate is calculated by
Answer: The budget (minus non property tax revenues) divided by the assessed value
Question: Effective Tax Rate
Answer: Measure tax burden as a % of appraised value (Assessment Ratio x Tax Rate)
Question: Real Property
Answer: Sum of tangible and intangible rights in land and improvements
Question: Real Estate
Answer: Land and buildings
Question: 6 basic rights of ownership
Answer: Sell, Lease, Use, Give away, Enter or Leave, Refuse
Question: Bundle of rights
Answer: 6 rights of ownership referred to as
Question: Taxation, Eminent Domain, Police Power, Escheat
Answer: Government restrictions on property
Question: Fee Simple Interest
Answer: Highest form of ownership
Question: Leasehold interest (tenant interest)
Answer: A lease that conveys property rights from an owner to a tenant
, Question: Leased fee interest
Answer: Landlord interest
Question: Value
Answer: The present worth of future benefits arising from the ownership of real property
Question: Anticipation
Answer: The principle based on the present worth of future benefits
Question: Value requires
Answer: Utility, Scarcity, Desirability, Effective Purchase power
Question: Market value
Answer: The most probable price which a property should bring in a competitive and open market
Question: Anticipation
Answer: Principle used for the valuation of income producing properties. It derives value for those future
benefits.
Question: Change
Answer: This principle requires us to look at the possibility of time adjustment
Question: Four agents of production
Answer: Land Labor Capital Management
Question: Equilibrium
Answer: Maximum market value is reached when the four agents of production balance with each other is
called....
Question: Contribution
Answer: Principle relative to sales comparison
Question: Substitution
Answer: This principle is the foundation for all 3 approaches
Question: Surplus Productivity
Answer: Net income remaining after the costs of labor management and capital have been satisfied
Question: Supply
Answer: Amount of goods producers are willing to sell
Question: Demand
Answer: Amount of commodity that consumer buy at a given price during a period
Question: Substitute and Complementary
Answer: Two types of commoditites
Update 2026/2027
Question: Tax Rates
Answer: Calculated from the total assessed vlaue
Question: Sales, Cost, Income
Answer: 3 approaches to appraisal
Question: Physical, Economic, Government, Social
Answer: The four factors that influence value
Question: Maps
Answer: These are used for the discovery of property
Question: Discover, List, Value
Answer: Appraisers basic responsibilities are
Question: Tax Rate is calculated by
Answer: The budget (minus non property tax revenues) divided by the assessed value
Question: Effective Tax Rate
Answer: Measure tax burden as a % of appraised value (Assessment Ratio x Tax Rate)
Question: Real Property
Answer: Sum of tangible and intangible rights in land and improvements
Question: Real Estate
Answer: Land and buildings
Question: 6 basic rights of ownership
Answer: Sell, Lease, Use, Give away, Enter or Leave, Refuse
Question: Bundle of rights
Answer: 6 rights of ownership referred to as
Question: Taxation, Eminent Domain, Police Power, Escheat
Answer: Government restrictions on property
Question: Fee Simple Interest
Answer: Highest form of ownership
Question: Leasehold interest (tenant interest)
Answer: A lease that conveys property rights from an owner to a tenant
, Question: Leased fee interest
Answer: Landlord interest
Question: Value
Answer: The present worth of future benefits arising from the ownership of real property
Question: Anticipation
Answer: The principle based on the present worth of future benefits
Question: Value requires
Answer: Utility, Scarcity, Desirability, Effective Purchase power
Question: Market value
Answer: The most probable price which a property should bring in a competitive and open market
Question: Anticipation
Answer: Principle used for the valuation of income producing properties. It derives value for those future
benefits.
Question: Change
Answer: This principle requires us to look at the possibility of time adjustment
Question: Four agents of production
Answer: Land Labor Capital Management
Question: Equilibrium
Answer: Maximum market value is reached when the four agents of production balance with each other is
called....
Question: Contribution
Answer: Principle relative to sales comparison
Question: Substitution
Answer: This principle is the foundation for all 3 approaches
Question: Surplus Productivity
Answer: Net income remaining after the costs of labor management and capital have been satisfied
Question: Supply
Answer: Amount of goods producers are willing to sell
Question: Demand
Answer: Amount of commodity that consumer buy at a given price during a period
Question: Substitute and Complementary
Answer: Two types of commoditites
