IAAO 102 Chapter 2 Review questions with correct answers

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IAAO 102 Chapter 2 Review questions with correct answers

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2025/2026

Institution IAAO 102

Course IAAO 102

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IAAO 102 Chapter 2 Review questions with correct answers

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IAAO 102 Chapter 2 Review questions with
| | | | | | |

correct answers |

Offers, |Listings |- |correct |answer |In |addition |to |sales |and |leases, |__ |and |__ |can |be |a |valid |
source |of |market |information, |if |care |is |exercised.

1. |Commercial |property |managers

2. |tenants |of |comparable |properties

3. |Real |estate |brokers |and |salespeople

4. |Sellers |and |purchasers |of |comparable |properties

5. |Public |records |- |correct |answer |List |five |sources |of |rental |income |data:

Economic |- |correct |answer |Another |name |for |market |rent |is |___ |rent.

Renewal |lease |- |correct |answer |A |lease |that |provides |for |one |or |more |extensions |of |the |lease |
term |in |the |original |lease |document |at |the |option |of |the |tenant |is |a |___ |lease.

Minimum |base |rent |- |correct |answer |The |fixed |portion |of |the |rent |under |the |terms |of |a |
percentage |lease |is |known |as |___ |____ |___.

Excess |rent |- |correct |answer |When |contract |rent |exceeds |economic |rent, |the |difference |is |
known |as |___ |rent.

Overage |rent |- |correct |answer |The |rent |that |is |over |and |above |a |guaranteed |minimum |base |
rent |is |referred |to |as |___ |rent.

Percentage |lease |- |correct |answer |A |contract |the |requires |a |fixed |minimum |base |rent |and |a |
variable |rent |based |on |volume |of |business, |sales, |productivity, |or |use |of |the |property |by |the |
tenant |is |called |a |___ |lease.

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Uploaded on: October 9, 2025
Number of pages: 4
Written in: 2025/2026
Type: Exam (elaborations)
Contains: Questions & answers

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