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    Question

    A survey to determine a property’s insurable value, or the amount of a loss is termed as?

    A Affinity sales Correct Answer Incorrect Answer
    B Pure Risk Correct Answer Incorrect Answer
    C Annuitization Correct Answer Incorrect Answer
    D Appraisal Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    An appraisal is a valuation of property, such as real estate, a business or an antique, by the estimate of an authorized person. To make a valid appraisal, the authorized person must have a designation from a regulatory body governing the jurisdiction of the appraiser. Appraisals are typically used for taxation purposes or to determine a possible selling price for the property in question.

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