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IAAO 101 Exam 1 Questions with Correct Answers

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Course IAAO 101
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IAAO 101 Exam 1 Questions with Correct Answers

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IAAO 101 Exam 1 Questions with Correct
Answers
Ownership of a property is the right to

Sell

Lease or rent

Use

Give away

Enter or leave

Refuse to do any of the above

Factors that influence DEMAND

Consumers taste and preference

Consumer income

Price of related commodities

Consumer expectations

The price of the commodity

Factors that influence/effect land value

Physical

Economic

Governmental

Social

Basic responsibilities of an appraiser to all taxable

, Discovery

Listing

Valuation

Governmental restrictions on property

Taxable

Eminent Doman

Police Power

Escheat

Attributes of land are

Permanent

Unique

Finite supply

Functional

Stationary

Land that had been developed to the extent that it is ready to be built

Site

Sorting data in homogeneous groups with the primary sort being by market area

Stratification

The order of adjustments in the direct sales comparison method are as follows

Financing

Market conditions

Location and physical characteristics

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