Which factor bears most directly on the weight an approach should receive?
Correct Answer
C) The quantity and quality of its supporting data
Why this is correct: The weight an approach receives should be based primarily on the quantity and quality of its supporting data. An approach with ample, verified, and highly comparable data is more reliable and deserves greater weight than one with scant or poor data. Why the other choices are wrong: The number of report pages devoted to it is irrelevant to weight. Whether the client specifically requested it does not affect the analytical weight. Whether it produced the highest indication is not a criterion; the highest indication is not necessarily the most reliable. Exam tip: Weight follows the evidence: more/better data = more weight.
Why This Is the Correct Answer
Why this is correct: The weight an approach receives should be based primarily on the quantity and quality of its supporting data. An approach with ample, verified, and highly comparable data is more reliable and deserves greater weight than one with scant or poor data. Why the other choices are wrong: The number of report pages devoted to it is irrelevant to weight. Whether the client specifically requested it does not affect the analytical weight. Whether it produced the highest indication is not a criterion; the highest indication is not necessarily the most reliable. Exam tip: Weight follows the evidence: more/better data = more weight.
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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