If an Appraiser Felt Some Comparable Sales Were Better Indicators

question 19

Multiple Choice

If an appraiser felt some comparable sales were better indicators of value than other comparables, he would assign more weight to them in the

• A) adjusted sales price.
• B) correlation process.
• C) 4-3-2-1- rule.
• D) replacement cost approach.

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Definitions:

Wage-Rate Compression

A situation where the differences in pay between different jobs or levels of responsibility decrease, often due to external pressures on wages or internal equity concerns.

Employment Standards

Regulations that define the minimum terms of employment, including hours, pay, leave entitlements, and working conditions.

Minimum Wage Rates

The lowest legal hourly pay that employers can give to workers, as set by government regulations.

Overtime Payments

Compensation paid to employees for working beyond their standard hours, typically at a higher rate.