When the Appraiser Has Decided to Use the Market Approach

question 20

Multiple Choice

When the appraiser has decided to use the market approach, which of the following conditions would disqualify a sale as a fair market value transaction?

• A) Low down payment followed by below-average interest rates on the balance due
• B) Seller who was not in a hurry to sell
• C) VA sale
• D) Neighbor's house sold for a higher amount

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Definitions:

Nonreward

A situation where an expected reward is not given, leading to extinction of the conditioned response over time.

Primary Reinforcement

Primary Reinforcement involves a stimulus that satisfies a basic survival need and is inherently reinforcing, such as food or water.

Secondary Reinforcement

A type of reinforcement that has acquired its reinforcing properties through association with primary reinforcers, such as money or praise.

Variable-Interval Schedule

A type of reinforcement schedule where reinforcements are provided at unpredictable time intervals, promoting steady response rates.