Deck 15: Reconciling the Value Estimates

Question 1

The quantity of data collected is not a factor in reviewing the results of a particular
value approach.

Answer 1

False

Question 2

Appraising the appraisal means to evaluate each value approach, the data used, and the range of indicated value.

Answer 2

True

Question 3

The final value conclusion should be an average of the three approaches to value.

Answer 3

False

Question 4

Reconciliation is defined as estimating value.

Question 5

Before reconciliation begins, the appraiser should review the overall appraisal process.

Question 6

The value conclusion should fall within the range of value indications from the approaches applied.

Question 7

Rounding the final answer to a large number of significant digits adds professionalism to the appraisal.

Question 8

If large adjustments were required in any approach, the value indicated by that approach should be totally ignored.

Question 9

The sales comparison approach is considered the most direct of the three approaches.

Question 10

If the data reviewed for one value approach is marginally reliable, the resulting value is still given equal weight.