Exam (elaborations)
IAAO 201 Exam With 100% Correct And Verified Answers 2024
- Course
- Institution
IAAO 201 Exam With 100% Correct And Verified Answers 2024
[Show more]
Content preview
IAAO 201 Exam With 100% Correct AndVerified Answers 2024
Land - Correct 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 - Correct Answer-"PUFFS"
Permanent
Unique
Finite Supply
Functional
Stationary
Four Value Characteristics of Land - Correct
Answer-"DUST"
Demand
Utility
Scarcity
Transferability
Vendarsol
,Raw Land - Correct Answer-is in its natural state, prior to
grading, construction, and subdividing. It is
UNDEVELOPED, in agricultural use, or intended for
development.
Site - Correct Answer-Improvements that prepare the land
for development (to be built upon).
Six rights associated with land ownership - Correct
Answer-"SLUGER"
Sell
Lease or rent
Use
Give away
Enter or leave
Refuse to do any of these
Fee Simple Absolute Ownership - Correct Answer-When all
six rights of land ownership are owned.
Government restrictions on ownership rights. - Correct
Answer-"TEPE"
Taxation
Vendarsol
, Eminent Domain
Police power
Escheat
Four Agents of Production - Correct Answer-Land, Labor,
Capital, Management
Entrepreneurial Profit - Correct Answer-The
return to the investor for taking the
investment risk on a development, as part of
the Management
Sale Price - (Total Development Cost + Land)
Highest & Best Use - Correct Answer-
Producing the greatest economic net return
to the property over a period of time: legally
permissible >physically possible >finanically
feasible >most profitable
Principle of Anticipation - Correct Answer-
The present value of future benefits.
Principle of Surplus Productivity - Correct
Answer-Net income remaining after the cost
Vendarsol
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Vendarsol. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67866 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now