Estimating the market value of real estate is complicated by the unique characteristics of real estate markets. In contrast to stock markets, real estate markets are characterized by all of the following EXCEPT:A. No two assets are considered perfect substitutes for one another. B. Market prices are revealed almost instantaneously to prospective buyers. C. Transactions occur infrequently. D. The physical location of the asset being sold plays an important role in the pricing process.

(a) when insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.

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answer; synthetic production system;