QUESTION: 17

The valuation opinion repot will typically include the following sections EXCEPT:

A valuation opinion letter summarizing the valuation procedures and conclusions
Several sections summarizing the relevant valuation theory, methodology, procedures, analyses, and conclusions
A listing of the data and documents relied upon by the appraiser
legal case documents

Answer(s): D

One of the most important tools for conducting a business valuation thoroughly and on a timely basis is a proper schedule. Most first-time, or in frequent, business valuation clients (and their attorneys) tend to underestimate the amount of lead time necessary for the appraiser to prepare a through and professional opinion. Scheduling problems often arise because:

The client delays in committing to the project hoping that the valuation problem will go away.
A major change in some aspect of assignment midway through the project
The client is not having awareness regarding valuation standards and selection criteria
Of some external pressures on the client

Answer(s): A,B

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QUESTION: 19

is perhaps the most difficult task for the business appraiser.

Getting two or more parties with different economic and business expectations to agree on projected future benefits and the risks associated with achieving those projections.
Identification of partial interest.
Selection of enterprise value premise.
Estimation of invested capital

Answer(s): A

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QUESTION: 20

When preparing a business valuation for reorganization proceedings under bankruptcy statues, the parties will frequently rely on .

Reengineering of valuation procedures
Capitalization of anticipated cash flow
Ownership of assets
Enterprise value

Answer(s): B

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QUESTION: 20