Red Book

Question 1

Which sections of the Red Book are mandatory?

Answer 1

Part 3 and Part 4

Question 2

What is part 3 of the Red Book?

Answer 2

Professional Standards
PS 1 & 2

Question 3

What is PS1?

Answer 3

Compliance standards with written valuation reports

Question 4

What is PS2?

Answer 4

Ethics and professional standards

Question 5

What is part 4 of the Red Book?

Answer 5

Valuation technical performance standards

Question 6

How many VPSs are there?

Answer 6

6

Question 7

What does the Red Book state ToE should include?

Answer 7

Bases of value

Purpose of valuation

Assumptions & special assumptions to be made

Identification of clients

Responsible valuer

Question 8

Are Inheritance Tax valuations Red Book compliant?

Answer 8

Yes - Red Book National Supplement
VPGA 15