IAAO 201 2026)
comprehensive questions and
verified answers (Detailed &
Elaborated) ACTUAL EXAM
2025 TEST 100% Solved 2026!!
Land - ANSWER-An immovable and indestructible three-dimensional area
consisting of a portion of the earth's surface, the space above and below the
surface, and everything growing on or permanently affixed to it.
Five Attributes of Land - ANSWER-"PUFFS"
Permanent
Unique
Finite Supply
Functional
Stationary
Four Value Characteristics of Land - ANSWER-"DUST"
, Demand
Utility
Scarcity
Transferability
Raw Land - ANSWER-is in its natural state, prior to grading, construction, and
subdividing. It is UNDEVELOPED, in agricultural use, or intended for development.
Site - ANSWER-Improvements that prepare the land for development (to be built
upon).
Six rights associated with land ownership - ANSWER-"SLUGER"
Sell
Lease or rent
Use
Give away
Enter or leave
Refuse to do any of these
Fee Simple Absolute Ownership - ANSWER-When all six rights of land ownership
are owned.
Government restrictions on ownership rights. - ANSWER-"TEPE"
Taxation
comprehensive questions and
verified answers (Detailed &
Elaborated) ACTUAL EXAM
2025 TEST 100% Solved 2026!!
Land - ANSWER-An immovable and indestructible three-dimensional area
consisting of a portion of the earth's surface, the space above and below the
surface, and everything growing on or permanently affixed to it.
Five Attributes of Land - ANSWER-"PUFFS"
Permanent
Unique
Finite Supply
Functional
Stationary
Four Value Characteristics of Land - ANSWER-"DUST"
, Demand
Utility
Scarcity
Transferability
Raw Land - ANSWER-is in its natural state, prior to grading, construction, and
subdividing. It is UNDEVELOPED, in agricultural use, or intended for development.
Site - ANSWER-Improvements that prepare the land for development (to be built
upon).
Six rights associated with land ownership - ANSWER-"SLUGER"
Sell
Lease or rent
Use
Give away
Enter or leave
Refuse to do any of these
Fee Simple Absolute Ownership - ANSWER-When all six rights of land ownership
are owned.
Government restrictions on ownership rights. - ANSWER-"TEPE"
Taxation