While There Is No Specific Number of Comparables That Is

question 26

Multiple Choice

While there is no specific number of comparables that is required for every appraisal assignment, how many comparable sales are considered adequate as long as the properties are very similar to the subject property?

• A) One
• B) Three
• C) Five
• D) Ten

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Definitions:

Major Components

Fundamental parts or aspects that make up a larger system, essential for its operation or understanding.

Organisation

Refers to a structured group of people who work together to achieve common goals or purposes, often characterized by a system of rules and hierarchies.

Benchmarking

The practice of comparing business processes and performance metrics to industry bests or best practices from other companies to improve performance.

Incorporate

The process of legally declaring a business as a separate entity from its owners, providing legal protections and benefits.