While It Is Often Sufficient to Rely on Informal Methods

question 23

Multiple Choice

While it is often sufficient to rely on informal methods of estimating the market value of real estate assets, the complexity and large dollar value of many real estate decisions dictate that formal estimates based on methodical collection and analysis of relevant market data should be utilized. The unbiased written estimate of the market value of a property is commonly referred to as a(n) :

• A) arm's length transaction
• B) appraisal
• C) property adjustment
• D) reconciliation

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Definitions:

Ureter

A tube that carries urine from the kidneys to the bladder.

Hilum

A depression or opening in the surface of an organ where blood vessels, nerves, and other structures enter or leave.

Calyces

Structures in the kidney that collect urine before it passes to the ureters.

Ketonuria

The presence of ketones in the urine, indicating the body is using fat for energy instead of glucose, often seen in diabetes.