Real-Estate BCBA. Board Certification in Business (BCBA) Valuation. Download Full Version :
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1 Real-Estate BCBA Board Certification in Business (BCBA) Valuation Download Full Version :
2 QUESTION: 237 Which of the following is NOT a common category of intangible assets? A. Technology-related B. Human-capital-related C. Location-related D. Data warehousing-related Answer: D QUESTION: 238 is a specialized classification of intangible and its categories are creative (e.g. copyrights) and innovative (e.g. patents). A. Intellectual properties B. Intellectual capital C. Both A & B D. Intellectual rights Answer: A QUESTION: 239 The cost approach provides a systematic framework for estimating the value of an intangible asset based on the economic principle of: A. Substitution B. Competition C. Double counting D. Asset-based approach Answer: A QUESTION: 240 An intangible s deficiencies are considered curable when the prospective economic benefit of enhancing or modifying it exceeds the current cost (in terms of material, labor, 87
3 and time) to change it. An intangible s deficiencies are considered incurable when: A. The current costs of enhancing or modifying it (in terms of material, labor and time) can not exceed the expected future economic benefits of improving it B.The current costs of enhancing or modifying it (in terms of material, labor and time) exceed the expected future economic benefits of improving it C. Cost encompasses all of the deficiencies D. Reproduction cost exceeds the actual production cost Answer: B QUESTION: 241 Analysts should consider each of the following measure when estimating the remaining useful life of intangible asset EXCEPT: A. Remaining legal (or legal protection) life (e.g., remaining term of trademark protection) B. Remaining contractual life (e.g., remaining term on a lease) C. Remaining copyrighted life (e.g., time period for which copyrights are sold) D. Remaining technological life (e.g., period until the current technology becomes obsolete, for patents, proprietary processes, etc.) Answer: C QUESTION: 242 Because of the advanced features (protected by the several patents), Seller management estimates that: A. Seller sells more widgets than it otherwise would B. Seller has a greater market share than it otherwise would C. Seller s average selling price per unit is higher than its competitors prices D. Seller has short-term supply contract supply contract with the key supplier Answer: A, B, C 88
4 QUESTION: 243 The analyst used to quantify the value of intangible assets. The analyst estimated the current cost required for the company to recreate its current level of customer awareness, brand recognition and consumer loyalty. A. Asset accumulation method B. Income approach C. Recreation cost method D. Valuing intangibles method Answer: C QUESTION: 244 This is sometimes considered the accumulation of all other elements of economic value of business enterprise not specifically with (or allocated to) individual tangible and intangible assts. Its analysis and qualification is an important component in the application of asset accumulation method to a company like Seller. What is this? A. Trademark B. Goodwill C. Patents D. Copyrights Answer: B QUESTION: 245 Asset accumulation method can quickly quantify the effects on business value of many common seller structural considerations, such as: A. What if the seller retains the company s cash on hand or accounts receivables? B. What if seller does not retain (or leases back to the company) the operating real estate facilities? C. What if seller sells the title of the patents or to some other intangible asset owned by the company? D. What if seller does not legally retain any or all of the debt instruments? 89
5 Answer: A QUESTION: 246 Which of the following is the primary disadvantage of the asset accumulation method? A. If taken to an extreme, it can be very expensive and time consuming B. It may necessitate the involvement o appraisal specialists in several asset valuation disciplines C. The valuation requires the valuation of all the company assets D. The value of all assets, properties, or business interests depends on their economic income-generating capacity Answer: A QUESTION: 247 A general category of taxable events relates to the amount of recognition of income (if any) associated with economic benefits received by a business. Examples of this category of taxable events include all of the following EXCEPT: A. The valuation of property received, such as rents B. The valuation (or the solvency/insolvency test) related to the recognition (or nonrecognition) C.A valuation that is needed when a business (whether the business is a proprietorship, corporation or partnership) D. A valuation when a tax payer claims a deduction Answer: C, D QUESTION: 248 There are some allowable methods for determining the basis of property received in exchange for other property. Which of the following is/are out those methods? A. Income basis of tax on the property B. If a taxpayer receives property for services, then the original basis of the property 90
6 when it is received is its original price C. The basis is the fair market value of the property exchanged for it, increased by any payments made or decreased by any payments received, when the two properties are of unequal value D. The basis is the fair market value of the property when its is received Answer: C, D QUESTION: 249 Various transactional and taxation events may occur that change the taxpayer s original basis in the property. These events usually the original basis. A. Increase B. Decrease C. Increase or decrease D. It depends Answer: C QUESTION: 250 No deduction is allowed for any charitable contribution of or more unless the taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution. A. $300 B. $400 C. $350 D. $250 Answer: D QUESTION: 251 The IRC limits an individual taxpayer s charitable deduction each year to a percentage of adjusted gross income, depending on: 91
7 A. The value of gift B. The type of gift C. The fair market price of gift D. Valuation advisories Answer: B 92
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