The Global Legal Settlement of 2002 arose out of a lawsuit brought by New York Attorney General Eliot Spitzer against the ten largest investment banks

A broker has been asked to do a CMA/BPO (broker price opinion) by a bank on a foreclosed property. The broker will not be listing the property for the bank and, in this case, the broker

a. must get permission from his employing broker before completing the CMA b. must state that she is not a registered or licensed appraiser c. should make sure to use only foreclosed properties as comparables d. may not receive a fee for completing the CMA

An appraiser would define depreciation as:

A: Recapture that has been realized; B: Loss in value from any cause; C: Wear and tear of the improvements; D: A loss in the value of the land.