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Virtually, all businesses or interests in businesses may be appraised under some alternatives premises of value. Which of the following is not out of those premises?

A. Value as a going concern

B. Value as an assemblage of assets

C. Value as an orderly disposition

D. Value as a sudden liquidation

The Build-Up model divides the risk premium into its subcomponents and estimates the cost of capital as the sum of the following:

1.A risk-free

2.A

risk premium, including one or all of following subcomponents EXCEPT:

A.

An equity risk premium

B.

A size premium

C.

A company-specific risk premium

D.

Investment-specific risk

___________ may apply to publicly traded stock where the size of the block is large enough relative to normal trading volume that it could not be sold in a short time without depressing the market price.

A. Discounts for lack of control

B. Blockage discounts

C. Discounts for lack of marketability

D. Contingent liability discounts

"Tag along rights" are Buy-Sell agreements which:

A. Often call for the sales of interest on the same terms if the controlling owner sells

B. Have become more common these days

C. Allow the issuer first priority to buy the interest and other stockholders or partners the second-place option to buy

D. Both A and B

The most appropriate application of the excess earnings method is for the purpose of:

A. Allocating total value between tangible and intangible assets

B. Estimating the net asset value

C. Estimating a normalized level of economic earnings

D. Quantifying the amount of access earnings