How is ASV related to ASL and TR?

The correct relationship between ASV (Appraised Secondary Value), ASL (Appraised Secondary Level), and TR (Transaction Rate) involves the calculation of ASV as a product of ASL and TR. This means that to find ASV, one must multiply the Appraised Secondary Level by the Transaction Rate.

Understanding this relationship helps to clarify how these values interact within the context of appraisals. In practice, ASL represents a foundational value, while TR indicates the rate at which transactions occur. Therefore, when these two figures are combined through multiplication, the resulting ASV provides a comprehensive view of the overall appraised value relative to the transactions occurring in the market.

Recognizing that ASV is dependent on both ASL and TR, and is calculated through multiplication, highlights the interconnectedness of these appraisal terms, rather than suggesting any other mathematical relationships or suggesting a lack of connection, as implied by the other choices.