Question 1

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

Accepted Answer

A) True 
 B)False  True

Question 2

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

Accepted Answer

A) True 
 B)False  False

Question 3

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

Accepted Answer

A) True 
 B)False  False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

Reconciliation is defined as estimating value.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

A) True 
 B)False

Exam 15: Reconciling the Value Estimates

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