What is the difference between market and fair? i know fair is an arms lenght transaction with anotehr party, but woulsnt that establish the market price?
When is it ok to use fair and market in general?
What about in real estate and Private equity?
They’re the same. Sometimes called fair market value.
So in the 2012 GIPS mock question they kept throwing it around to confuse the crap out of us. Thanks CFAI.
Haha exactly. I got 2/6 gips for the mock, 3/6 on sample exam v2. I’ll take 3/6 on Saturday.