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Appraisal: For real estate, an estimation of the worth of a given property, expressed as market value. Determining the market value of timeshare properties is not an exact science. Because of this, tim . . . View Full Definition

Essay Appraisal: An appraisal strategy requiring the rater to provide a narrative description of an individual’s performance based on the rater’s performance observations.

Peer Appraisal: A performance appraisal strategy whereby an employee is reviewed by his or her peers who have sufficient opportunity to examine the individual’s job performance.

Subordinate Appraisal: An appraisal system whereby managerial employees are evaluated by their subordinates.

Appraisal Ratio: The signal-to-noise ratio of an analyst's forecasts. The ratio of alpha to residual standard deviation.

Real Estate Appraisal: An estimate of the value of property using various methods.

Performance Appraisal: A periodic review and evaluation of an individual's job performance.

Appraisal Rights: A right of shareholders in a merger to demand the payment of a fair price for their shares, as determined independently.

Weighted Average Technique: When reconciling appraisal approaches, the application of a weight to each approach for averaging.

Reverse-Annuity Mortgages (RAM): Bank loan for an amount equal to a percentage of the appraisal value of the home. The loan is then paid to the homeowner in the form of an annuity.