Question

QUESTIONS In assessing what is necessary to complete a valuation engagement with professional competence, one should consider the ability to identify gather, and analyze the relevant data: apply the appropriate valuation methodologies Incorporate critical thinking, objectivity and professional Judgment in the decision-making process that will ultimately determine One's credibilityreputation within the profession The amount of value One's likely success in any given engagement The causality underlying the claim QUESTION 6 The ultimate decision to qualify a witness as an expertis At the judge's discretion Based on whether or not they are certified and otherwise appropriately credentialed A 2/3 majority jury vote Determined by a Daubert challenge QUESTION 7 One of the major challenges in calculating losses in personal injury cases arises from incomplete data Foreseeable risks inflation Establishing causalty QUESTIONS The estimate of earning losses requires the evaluation of five examination areas which of the following is NOT one of the five areas listed in the text? Analysis of employment history and related past earnings Projection of probable career paths before and after the loss Benchmark of mobility freedom: before and after the loss Consideration of other factors on earnings losses such as age and experience

Answer 1

Question 5 : The correct answer is "B" : The amount of value

Question 6 : The correct answer is "A" : At the judge's discretion

Question 7 : The correct answer is "C" : Inflation

Question 8 : The correct answer is "C" : Benchmark of mobility freedom : before and after the loss

Reason : Five examination areas include :

a) Determination of bases for earning losses

b) Analysis of employment history

c) Projection of probable career paths

d) Determining the proper earning for each career path

e) Consideration of other factors such as age and experience

Hence Benchmark of mobility freedom is not one of the examination areas.

Note : No explanations have been provided for the answers to Questions 5-7 since the questions are pretty straight-forward and since the answer completes the sentence it becomes self-explanatory.