An appraiser reconciles three site value indications derived by different methods. What is this called?
Correct Answer
D) Reconciliation within the site valuation
Why this is correct: Reconciliation occurs at multiple levels: within a single approach (e.g., reconciling multiple site value indications from extraction, allocation, and sales comparison) and between different approaches (sales, cost, income) to final value. Why the other choices are wrong: "The final reconciliation of the assignment" refers to reconciling the three main approaches. "An allocation between land and improvements" is a method, not reconciliation. "A verification of the underlying land sales" is a data-checking step. Exam tip: Reconciliation happens within methods and between methods.
Why This Is the Correct Answer
Why this is correct: Reconciliation occurs at multiple levels: within a single approach (e.g., reconciling multiple site value indications from extraction, allocation, and sales comparison) and between different approaches (sales, cost, income) to final value. Why the other choices are wrong: "The final reconciliation of the assignment" refers to reconciling the three main approaches. "An allocation between land and improvements" is a method, not reconciliation. "A verification of the underlying land sales" is a data-checking step. Exam tip: Reconciliation happens within methods and between methods.
More reconciliation Questions
An appraiser is told the property has no environmental contamination and cannot verify it. How should this be handled?
Reconciliation of the approaches to value is best described as which activity?
Significant appraisal assistance from a person who does not sign the report must be treated how?
In appraising a hotel as a going concern, what must be allocated?
What does it mean to say an approach is not applicable to an assignment?
Which of the following is a written report option named in the current edition of USPAP?
What distinguishes qualitative from quantitative analysis in the sales comparison approach?
Why should the reconciliation address the quantity of evidence as well as its quality?
An appraisal report includes an addendum explaining the adjustment derivation. How does this affect compliance?
An extraordinary assumption proves false after the report is delivered. What follows?
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