IAAO COURSE 201 2024/2025 Exam
Questions and Answers 100%
Guaranteed Success | Already Rated A+
Anticipation - 🧠ANSWER ✔✔present worth of future benefits
Balance - 🧠ANSWER ✔✔max value is obtained when the 4 agents of
production attain a state of equilibrium
Change - 🧠ANSWER ✔✔The tendency of social and economic forces
affecting supply and demand to alter over time
Competition - 🧠ANSWER ✔✔Availability must be in harmony with demand.
If one or the other is in excess prices will increase or decrease
Conformity - 🧠ANSWER ✔✔The value of property depends in part in its
relationship to its surroundings
Consistent Use - 🧠ANSWER ✔✔States that a property must be valued with
a single use for the entire property
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
1
PRIVACY STATEMENT. ALL RIGHTS RESERVED
,Contribution - 🧠ANSWER ✔✔The basis for applying the adjustments in the
sales comparison approach
Increasing/Decreasing Returns - 🧠ANSWER ✔✔After reaching a certain
point the addition of successive increments of one agent of production will
decrease future incomes or amenities
Progression/Regression - 🧠ANSWER ✔✔The value of a lower priced
property is increased by its association with better properties of the same
type
Substitution - 🧠ANSWER ✔✔Market value of a property tends to be set by
the cost of acquiring an equally desirable and valuable property
Surplus Productivity - 🧠ANSWER ✔✔Net income remaining after the cost
of labor, management, & capital has been paid
Supply - 🧠ANSWER ✔✔The amount of goods that producers are willing to
sell under various conditions during a given period
Demand - 🧠ANSWER ✔✔Quantities of various goods that people are
willing to and able to buy during some period, given the choices available to
them
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
2
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, Land - 🧠ANSWER ✔✔The surface of the earth and everything above it and
beneath it
5 attributes of Land - 🧠ANSWER ✔✔Permanent
Unique
Finite supply
Functional
Stationary
4 Characteristics of Land - 🧠ANSWER ✔✔DUST
Natural state of the land before anything is done to it - 🧠ANSWER ✔✔raw
land
Improvements to land - 🧠ANSWER ✔✔everything done to the land that
increases its usefulness without actually placing a structure or building is
considered
Improvements on land - 🧠ANSWER ✔✔any structures or buildings placed
on the land are considered
Site - 🧠ANSWER ✔✔A parcel of land that has been developed to the
extent that it is ready to be build upon for its intended use
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
3
PRIVACY STATEMENT. ALL RIGHTS RESERVED
Questions and Answers 100%
Guaranteed Success | Already Rated A+
Anticipation - 🧠ANSWER ✔✔present worth of future benefits
Balance - 🧠ANSWER ✔✔max value is obtained when the 4 agents of
production attain a state of equilibrium
Change - 🧠ANSWER ✔✔The tendency of social and economic forces
affecting supply and demand to alter over time
Competition - 🧠ANSWER ✔✔Availability must be in harmony with demand.
If one or the other is in excess prices will increase or decrease
Conformity - 🧠ANSWER ✔✔The value of property depends in part in its
relationship to its surroundings
Consistent Use - 🧠ANSWER ✔✔States that a property must be valued with
a single use for the entire property
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
1
PRIVACY STATEMENT. ALL RIGHTS RESERVED
,Contribution - 🧠ANSWER ✔✔The basis for applying the adjustments in the
sales comparison approach
Increasing/Decreasing Returns - 🧠ANSWER ✔✔After reaching a certain
point the addition of successive increments of one agent of production will
decrease future incomes or amenities
Progression/Regression - 🧠ANSWER ✔✔The value of a lower priced
property is increased by its association with better properties of the same
type
Substitution - 🧠ANSWER ✔✔Market value of a property tends to be set by
the cost of acquiring an equally desirable and valuable property
Surplus Productivity - 🧠ANSWER ✔✔Net income remaining after the cost
of labor, management, & capital has been paid
Supply - 🧠ANSWER ✔✔The amount of goods that producers are willing to
sell under various conditions during a given period
Demand - 🧠ANSWER ✔✔Quantities of various goods that people are
willing to and able to buy during some period, given the choices available to
them
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
2
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, Land - 🧠ANSWER ✔✔The surface of the earth and everything above it and
beneath it
5 attributes of Land - 🧠ANSWER ✔✔Permanent
Unique
Finite supply
Functional
Stationary
4 Characteristics of Land - 🧠ANSWER ✔✔DUST
Natural state of the land before anything is done to it - 🧠ANSWER ✔✔raw
land
Improvements to land - 🧠ANSWER ✔✔everything done to the land that
increases its usefulness without actually placing a structure or building is
considered
Improvements on land - 🧠ANSWER ✔✔any structures or buildings placed
on the land are considered
Site - 🧠ANSWER ✔✔A parcel of land that has been developed to the
extent that it is ready to be build upon for its intended use
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
3
PRIVACY STATEMENT. ALL RIGHTS RESERVED
