IAAO 201 exam with 100% correct answers Questions With Complete Solutions

Land - The surface of the earth and everything above and beneath it . Attributes of Land - Permanent, Unique, Finite Supply, Functional and Stationary Characteristics of Land - Demand, Utility, Scarcity and Transferability Raw land - unimproved land in its natural state prior to grading, construction and subdividing. Agricultural land - referred to as undeveloped land except when platted subdivision Improved land - Improvements that prepare the land for development (to be built upon) are considered a site. On-site improvements - grading, paving, driveways, landscaping, sewers and utility hookups off=site improvements - streets, sidewalks, curbing, traffic lights, street lights and water mains Improvement on land - any structure or building on the site Zoning - is very important to valuing and determines land classification;essential in determining the highest and best use. Rights of Ownership - Sale, Lease, Use, Give away, enter or exit and refuses to do anything Fee Simple or Fee simple absolute Ownership - All rights are owned for a property.