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International Valuation Standards Committee (IVSC)

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International Valuation Standards Committee (IVSC)

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Questions and Answers

What factors do professionals consider when valuing land?

Buyer demand, location features, and limited supply (correct)

Buyer demand only

Location features only

Limited supply only

How is real property defined?

As intangible assets

Only as land

As personal property

As land and physical structures (correct)

What do property valuers consider when assessing asset worth?

Market conditions and property condition (correct)

Historical factors

Market conditions only

Property condition only

How are price changes influenced according to the text?

By both specific variables and general forces Signup and view all the answers

What factors influence real estate value according to the text?

Supply and demand, competition, substitution, anticipation, and change Signup and view all the answers

What does the International Valuation Standards Committee (IVSC) aim to promote?

Consistency and best practices in valuation across borders Signup and view all the answers

Why is land considered essential for human life?

Because of its role in urban development and social dynamics Signup and view all the answers

What factors are considered in land valuation?

Location, durability, and utility Signup and view all the answers

What does the International Valuation Society (IVSC) emphasize in its guidelines?

Uniform execution among experts Signup and view all the answers

How does urbanization impact the quality of life?

By influencing social dynamics and economic growth Signup and view all the answers