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IAAO 201 2026) comprehensive questions and verified answers (Detailed & Elaborated) ACTUAL EXAM 2025 TEST 100% Solved 2026!!

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IAAO 201 2026) comprehensive questions and verified answers (Detailed & Elaborated) ACTUAL EXAM 2025 TEST 100% Solved 2026!!

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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

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