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Basic Question 0 of 13

______ 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.
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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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I just wanted to share the good news that I passed CFA Level I!!! Thank you for your help - I think the online question bank helped cut the clutter and made a positive difference.
Edward Liu

Edward Liu

Learning Outcome Statements

describe uses of private business valuation and explain applications of greatest concern to financial analysts;

CFA® 2025 Level II Curriculum, Volume 4, Module 25.