Red Book A-Z

Question 1

Assumption

Answer 1

An assumption is something reasonable for the valuer to accept without specific investigation.

Question 2

Disclosures

Answer 2

Specific disclosures must be made when there is a public interest or third-party reliance on the valuation.

Question 3

Ethics

Answer 3

Valuers must follow RICS Rules of Conduct and act ethically in all valuation work.

Question 4

Goodwill

Answer 4

Goodwill relates to the intangible assets of a business, such as brand name and customer relations.

Question 5

Hierarchy of Evidence

Answer 5

Direct comparables, general market data, and other sources form the hierarchy of evidence.

Question 6

Inspections and Investigations

Answer 6

Valuers must conduct necessary inspections and investigations to ensure adequate valuation.

Question 7

Objectivity

Answer 7

Valuers must confirm their objectivity and independence, checking for conflicts of interest.

Question 8

Qualification

Answer 8

Valuers must be suitably qualified, experienced, and knowledgeable for the instruction.