Question

Match List I with List-II and select the correct answer, using the code given below:

List I	List II
P. Valuation	1. Determining the price of the property
Q. Mortgage	2. Charges levied on property
R. Taxation	3. Security is taken for giving loans
S. Specification	4. Mode of describing nature and class of work

1. P – 1, Q - 2, R – 3, S - 4
2. P – 1, Q - 3, R – 2, S - 4
3. P – 4, Q - 3, R – 2 S - 1
4. P – 3, Q - 4, R – 2, S - 1

Answer 1

Correct Answer - Option 2 : P – 1, Q - 3, R – 2, S - 4

Concept:

Valuation: 

• The art of assessing the present fair value of a property at a stated time is known as valuation.
• Valuation of a building depends on the type of the building, its structure, and durability, on the situation, size, shape, frontage, the width of roadways, the quality of materials used in the construction, and present-day prices of materials

Mortgage: 

• A legal agreement in which a bank, building society, or other financial institution lends money at interest in exchange for assuming title to the debtor's property or security on the condition that the obligation is paid in full.

Taxation: Charges levied on the property.

Specification: Mode of detailing of work type and its nature.