INSTRUCTION
- VALUATION QUESTIONS
1 Why
are good communications between the valuer and client so important
for the valuation profession today?
2 What
is professional indemnity cover? Why is it necessary? Are there any
other alternatives?
3 What
is meant by "sufficiency of instructions"? Sufficient for
the client, valuer or both?
4 Why
determine an assignment plan? What are the advantages and
disadvantages of preplanning a valuation assignment?
5 What
factors determine the timeline of a valuation assignment? Are there
critical factors that cannot be changed under any condition?
6 When
should the fee be negotiated with the client? How are fees
determined?
7 What
is the position of the Trade Practices Act (Cth) and Fair Trading
Acts (states and territories) on the setting of valuers' fees?
8 When
should the assignment be confirmed with the client?
9 What
other and necessary factors have to be taken into account by a valuer
who delegates the assignment to other valuers and/or professionals?
10 List
the advantages and disadvantages of the sole operator compared to a
large valuation firm when carrying out valuation assignments?
11 What effect has privacy
legislation had on the valuation system? How
has it affected the collection of information such as sales and
rentals?