CBV MQE Practice Questions - CBV Institute Membership Qualification Examination Exam

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Under CBV Institute Practice Standards, 'fair market value' is most precisely defined as the highest price, expressed in terms of money, available in an open and unrestricted market between informed and prudent parties acting at arm's length, where neither party is under any compulsion to act. Which characteristic is therefore NOT part of the fair market value premise?

A specific, identifiable special-interest purchaser paying a strategic premium Parties acting at arm's length Absence of compulsion to transact Parties who are informed and prudent

Correct Answer:

A specific, identifiable special-interest purchaser paying a strategic premium

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