CFA Practice Question

There are 201 practice questions for this study session.

CFA Practice Question

______ is the price which a knowledgeable, willing and unpressured buyer would pay to a knowledgeable, willing, and unpressured seller in an open and unrestricted market.

A. Fair market value.
B. Market value.
C. Fair value.
Correct Answer: A

User Contributed Comments 2

User Comment
warnggg Why not MV?
michaelcfa @warnggg: The market value is determined by supply and demand. It is not necessarily a fair number.
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