Appraisal, Evaluation, CMA and BPO Compared

What is the fastest way to tell them apart?

Ask four questions before naming the product:

1. Who is doing the work? An appraiser, broker, associate broker, salesperson, lender employee or another qualified person?
2. Who requested it and why? A lender needing an appraisal, an owner considering a listing price, an asset manager ordering a BPO or a developer studying feasibility?
3. Must the work reach a value conclusion? A valuation appraisal, CMA and BPO generally do. An evaluation in the New York syllabus sense might not.
4. How is the work represented? Calling brokerage pricing work an appraisal can misstate the provider's capacity and the product's status.

Those questions are more useful than counting pages, photographs or comparable sales. Several products can use the same data without becoming interchangeable.

How do appraisal, evaluation, CMA and BPO compare?

This is a decision map, not a complete engagement standard. A live assignment can involve additional federal, state, lender, client, professional-standard, insurance and contract requirements.

Official source map

Subject 8 of the New York State Department of State Real Estate Salesperson 77-Hour Curriculum defines appraisal, valuation and evaluation. It identifies a comparative market analysis, or CMA, as an opinion of value, says a CMA must not be called an appraisal and lists the market evidence a salesperson should understand.

New York Executive Law section 160-b protects the state licensed and state certified appraiser titles while stating that Article 6-E itself does not preclude an uncredentialed person from appraising for compensation. Executive Law section 160-x classifies appraisal assignments and specialized services. Executive Law section 160-jjjj separates appraisal work from property inspections, property evaluations and BPO work an appraisal management company may obtain from specified licensees.

The Department's Real Estate Appraiser FAQ identifies appraiser credential categories, report-title requirements and the treatment of CMA work as unacceptable appraiser-qualification experience. New York Real Property Law section 442-a controls compensation received by a salesperson for covered real-estate work.

For lending vocabulary, the Consumer Financial Protection Bureau's Regulation B official interpretation of section 1002.14 treats appraisals, automated valuation model reports and BPOs as examples of valuations for that disclosure rule. Federal banking regulators separately explain evaluations used by regulated institutions. Those federal meanings should not be substituted for the general evaluation definition in the New York salesperson syllabus.

These sources were checked on August 27, 2026.

What does valuation mean?

Valuation is the broadest value-estimation word in this lesson. The New York syllabus defines it as the process of estimating the value of an identified interest in specific property as of a given date.

That definition has three anchors:

• identified interest: fee simple ownership, a leasehold, a partial interest or another specified property right
• specific property: the assignment concerns identified real estate rather than an abstract market
• given date: value is tied to an effective date because property and market conditions change

Valuation describes a process. It does not by itself identify the provider, standards, value definition or product. An appraisal, CMA, BPO and automated valuation model can each estimate value while remaining different products.

The word can also have a rule-specific definition. Regulation B uses valuation broadly when deciding which written value materials a creditor must give an applicant. Examples include an appraiser's report, a creditor staff document, a government-sponsored-enterprise report, an automated valuation model and a BPO. That disclosure definition does not erase New York occupational rules or turn every listed product into an appraisal.

For an exam scenario, treat valuation as the process or broad category, then classify the actual product from the requester, purpose, provider and governing facts.

What is an appraisal?

An appraisal is more than a number. New York's syllabus describes it as an unbiased estimate concerning the nature, quality, value or utility of an interest in or aspect of identified real estate. State appraisal-management-company law defines appraisal as an analysis, opinion or conclusion concerning specified interests in, or aspects of, identified real estate.

A careful appraisal assignment identifies matters such as:

• client and intended users
• intended use
• subject property and property rights
• type and definition of value, when value is estimated
• effective date
• assignment conditions
• scope of work
• relevant data, methods and reasoning
• conclusion

An appraisal can use comparable sales, replacement-cost reasoning or income analysis. The method does not create an appraisal by itself. A salesperson can compare sales in a CMA, and an investor can apply a capitalization rate without turning that work into a licensed or certified appraisal.

Who may use a New York appraiser title?

Executive Law sections 160-b and 160-s reserve titles such as State Certified Residential Real Estate Appraiser, State Certified General Real Estate Appraiser, State Licensed Real Estate Appraiser and State Licensed Real Estate Appraiser Assistant for the corresponding credential holders.

Executive Law section 160-r requires the credential number next to or immediately below the applicable title when the title is used in an appraisal report or appraisal-services contract.

A New York real estate salesperson license is not an appraiser credential. Studying valuation and preparing a CMA does not authorize a salesperson to advertise as a state licensed or state certified appraiser.

Must every paid New York appraisal be performed by a credential holder?

Do not state that as a blanket New York rule. Section 160-b(2) says Article 6-E itself does not prevent a person who lacks a state appraiser credential from appraising real estate for compensation.

That is a limit on Article 6-E's credential restriction, not permission to ignore every other requirement. A federal or state transaction rule, government program, lender, court, client, appraisal management company or professional assignment can require a state licensed or certified appraiser. The exam-safe approach is to identify what governs the particular assignment.

For example, Executive Law section 160-jjjj bars an appraisal management company from using a person who lacks the required credential to perform an appraisal as defined in Article 6-H. The same provision recognizes different providers for property evaluations and BPOs. One statute should not be pulled out of its context and made universal.

Is every service by an appraiser an appraisal assignment?

No. Executive Law section 160-x recognizes appraisal assignments and specialized services performed by credentialed appraisers. Classification turns partly on whether the appraiser is retained, or would be perceived by the public, as a disinterested third party giving an unbiased analysis, opinion or conclusion.

The function matters more than a creative label. A credentialed appraiser cannot rename an independent appraisal conclusion to avoid the duties governing the assignment. A consulting service by that appraiser also does not acquire the same intended use and scope as every appraisal.

What is an evaluation?

For the New York salesperson curriculum, an evaluation is a study of the nature, quality or utility of property interests in which a value estimate is not necessarily required. The syllabus gives highest and best use, feasibility, and market supply and demand as examples.

An evaluation could ask:

• Is a proposed use legally permissible and physically possible?
• Does market demand support a proposed project?
• Which competing properties may affect absorption?
• Which features help or limit utility?
• Is more investigation needed before a decision?

The analysis can remain qualitative without a final dollar opinion.

Why does federal lending guidance use evaluation differently?

Federal banking regulators use evaluation for certain real-estate collateral analyses that estimate market value when a regulated institution is permitted to use an evaluation instead of an appraisal. Their guidance says an evaluation need not be developed by a state licensed or state certified appraiser, but it must contain enough information and analysis to support the value conclusion and the institution's decision.

The two meanings answer different questions:

• The New York syllabus teaches the general distinction among appraisal, valuation and evaluation.
• Federal banking guidance governs particular collateral decisions by regulated financial institutions.

If a question mentions highest and best use, feasibility or supply and demand without requiring a dollar conclusion, the syllabus meaning fits. If it names a regulated institution, collateral and a transaction eligible for an evaluation rather than an appraisal, the federal lending context may control.

Can a BPO automatically serve as a federal bank evaluation?

No. The 2010 Interagency Appraisal and Evaluation Guidelines explain that a method that does not provide the property's market value is not acceptable as an evaluation and use a BPO as an example of a product that may not satisfy that condition. A regulated institution must determine whether the product supports market value and satisfies the transaction rules, guidance and policy.

Do not turn “a BPO is a valuation under Regulation B” into “a BPO can replace any required appraisal.” The first concerns which value documents a creditor gives an applicant. The second concerns whether a product is permitted for a particular transaction.

What is a comparative market analysis?

A comparative market analysis is a brokerage pricing analysis. A broker, associate broker or salesperson studies relevant market evidence to help a seller or buyer consider a listing price, offer price, probable market position or supported pricing range.

New York's syllabus makes two points explicit:

1. A CMA is an opinion of value.
2. A CMA must not be referred to as an appraisal.

The syllabus tells students to consider:

• recent sold properties
• current competing properties
• recent expired listings
• buyer appeal
• market position
• property assets and drawbacks
• area market conditions
• recommended terms
• a supported market-value range

It also names data collection, comparable past sales, expired listings, current competition, adjustments and price formulation. The syllabus refers to comparable past sales within the prior 12 months. That is a curriculum boundary, not a reason to choose a weak older sale over stronger current evidence. Selection still calls for competence, diligence and explanation.

What can a CMA help a seller decide?

A CMA can show how buyers may compare the property with recent sales and current alternatives. It can support a listing range and explain how condition, location, features, market direction and competition affect position.

The CMA does not promise a sale at the suggested number. The seller chooses the listing strategy. Contract price can differ because of exposure, negotiation, financing, concessions, property condition and later market changes.

What can a CMA help a buyer decide?

A buyer-side CMA can organize comparable evidence before an offer. It helps the buyer discuss whether a price appears supported and how the subject compares with alternatives.

It does not bind the seller, lender, appraiser, taxing authority or court. It is one tool within the brokerage relationship.

Does a CMA count as New York appraiser experience?

The Department's Real Estate Appraiser FAQ says market-value estimates prepared by a real estate licensee in connection with listing or selling property, meaning CMAs, are unacceptable as qualifying appraiser experience.

That does not make the CMA unimportant. It confirms that brokerage pricing and appraisal-credential experience are different professional tracks.

What is a broker price opinion?

A broker price opinion is a price or value estimate prepared by a real estate licensee for a defined non-appraisal purpose. The Consumer Financial Protection Bureau describes a BPO as an estimate of value by a real estate sales professional and says it is commonly used to support a listing price.

A BPO may contain:

• subject identification
• requester and intended use
• exterior or interior observations, depending on access and scope
• selected sales and listings
• adjustments or qualitative comparisons
• market and marketing-time observations
• repair or condition assumptions
• probable price, range or pricing recommendation
• limitations and disclosures

Scope depends on the order. An exterior-only BPO has different evidence from an interior assignment. Photographs and a comparable grid do not make it a licensed or certified appraisal.

What does New York law say about BPO providers?

Executive Law section 160-jjjj governs employee and contractor requirements for appraisal management companies. It bars an appraisal management company from using a person who lacks the required appraiser credential to perform an appraisal as defined in Article 6-H.

The same section says that restriction does not prohibit the company from obtaining:

• a property inspection or property evaluation from a licensed appraiser, Article 12-A broker, associate broker or salesperson, or Article 12-B home inspector
• a BPO from an Article 12-A broker, associate broker or salesperson

This is direct New York authority separating a BPO from appraisal work in that context.

Can a salesperson accept a BPO fee directly?

A student should read section 160-jjjj together with Real Property Law section 442-a. Section 442-a says a salesperson may not receive or demand compensation from anyone other than the duly licensed real estate broker with whom the salesperson is associated for covered work including appraising, buying, selling, exchanging, leasing, renting or negotiating a real-estate loan.

The exam rule is that a salesperson works through the associated broker and does not use a BPO order to bypass brokerage supervision or the statutory compensation channel. A brokerage should review the assignment, client, payment path, scope, data rights, insurance and reporting language before the salesperson accepts it.

What is the difference between a CMA and a BPO?

CMA and BPO methods can overlap. Both may use comparable sales and listings and both may reach a range or opinion. The assignment's purpose and requester often provide the stronger distinction.

Do not memorize “CMA is for sellers and BPO is for banks” as a complete rule. Buyers can receive CMAs. BPOs can serve listing purposes. Read the actual facts.

How should you classify an exam scenario?

Use this six-step sequence:

1. Requester: homeowner, buyer, lender, court, appraisal management company, asset manager or developer.
2. Intended use: listing, offer, secured lending, litigation, tax, estate, feasibility or portfolio decision.
3. Provider: salesperson, broker, appraiser assistant, certified appraiser, lender employee or another analyst.
4. Required conclusion: value, price range, feasibility finding, supply-and-demand analysis or another conclusion.
5. Representation: CMA, BPO, evaluation, appraisal, licensed appraisal or certified appraisal.
6. Authority and payment: credential requirement, broker supervision and lawful compensation path.

A homeowner considering a listing points toward CMA. A lender requiring a credentialed independent market-value opinion points toward appraisal. An appraisal management company ordering a price opinion from a brokerage points toward BPO. A developer studying demand without asking for value points toward evaluation.

What are the limits of each product?

Appraisal limits

An appraisal is an opinion, not a fact or a promise about a later sale. It is tied to an effective date, property rights, intended use, scope, assumptions and evidence. It does not replace a home inspection, engineering report, survey, title search or legal opinion.

Evaluation limits

An evaluation answers the question within its scope. A feasibility study can identify market concerns without certifying structure or legal compliance. A federal lending evaluation cannot be used where an appraisal is required.

CMA limits

A CMA supports brokerage pricing. It does not bind the owner, buyer, lender, appraiser, taxing authority or court. It should disclose meaningful data limits and avoid certainty about future price or marketing time.

BPO limits

A BPO is limited by the order, access and intended use. An exterior-only observation should not imply interior evidence. A BPO cannot be presented as a licensed or certified appraisal or used to evade an appraisal requirement.

How do fair housing rules affect value work?

Appraisals, evaluations, CMAs and BPOs should use relevant property and market evidence. Protected characteristics and coded demographic preferences do not belong in a pricing conclusion.

Changing a conclusion because of the race, religion, national origin, familial status, disability or another protected characteristic of residents, buyers, sellers or a neighborhood is improper. “The neighborhood is changing” is not neutral support when it is coded language about protected-class entry.

Providers should select data consistently, document adjustments and avoid unsupported neighborhood labels. The discriminatory housing acts guide explains the federal appraisal provision and related brokerage risks.

Worked scenarios

Scenario 1: prospective listing

Nora, a salesperson associated with Hudson Keys Realty, analyzes recent sales, active competition and expired listings before meeting a homeowner. She recommends a supported range and labels the work a comparative market analysis.

Classification: CMA. Its purpose is brokerage pricing for a prospective listing.

Scenario 2: mortgage value assignment

A lender orders an independent market-value opinion from a New York certified residential appraiser. The report identifies intended use, effective date, property rights, comparable evidence and conclusion.

Classification: appraisal. The provider, purpose, independence and report facts describe an appraisal assignment.

Scenario 3: proposed retail project

A developer asks whether neighborhood demand supports a proposed retail project. The analyst studies competing space, absorption and tenant demand but reaches no property-value conclusion.

Classification: evaluation in the syllabus sense. It studies feasibility and demand without requiring value.

Scenario 4: asset-manager order

An asset manager sends a BPO order to a New York brokerage. The broker assigns a qualified salesperson to inspect the exterior, analyze the required comparables and submit the opinion through the broker's process.

Classification: BPO. The brokerage still controls supervision and compensation.

Scenario 5: misleading title

A salesperson prepares a 20-page comparable analysis for a seller and titles it “Certified Residential Appraisal,” although the salesperson has no appraiser credential.

Classification: misrepresented CMA or pricing analysis. Length does not create a state appraiser credential, and the protected title makes the representation more serious.

Scenario 6: federal bank evaluation

A regulated institution determines that a transaction is eligible for an evaluation instead of an appraisal. A qualified evaluator reaches a supported market-value conclusion under the institution's program.

Classification: federal lending evaluation. It reaches value even though the general syllabus definition says evaluation does not necessarily require one.

Scenario 7: direct salesperson payment

An appraisal management company emails a BPO order to a salesperson and offers to pay the salesperson personally without involving the associated broker.

Classification: the product may be a BPO, but the payment path raises Real Property Law section 442-a. The salesperson should route the assignment through the broker.

Scenario 8: substitution for a required appraisal

A lender file requires an appraisal. Someone suggests substituting a cheaper BPO because it also uses comparable sales.

Classification: incorrect substitution. Comparable evidence does not make the products legally interchangeable.

Common misconceptions

“Every estimate of value is an appraisal”

No. A CMA, BPO, automated valuation model and other valuation can estimate value without being a licensed or certified appraisal.

“Every evaluation avoids a dollar conclusion”

No. The syllabus says a value estimate is not necessarily required. A federal lending evaluation for an eligible collateral transaction ordinarily supports market value.

“A detailed CMA becomes an appraisal”

No. Page count, photographs and an adjustment grid do not decide the provider capacity, intended use or product.

“BPO means an individual broker must perform it”

Executive Law section 160-jjjj recognizes BPO work by Article 12-A brokers, associate brokers and salespersons in its appraisal-management-company provision. A salesperson remains subject to broker association, supervision and compensation rules.

“A salesperson may take a BPO fee directly”

Real Property Law section 442-a routes salesperson compensation for covered real-estate work through the associated broker.

“A CMA has no value because it is not an appraisal”

No. A competent CMA has an important brokerage purpose. The distinction protects clarity about intended use and limits.

“An appraisal proves property condition”

No. It is not a comprehensive inspection, engineering report or environmental assessment.

“Every conclusion should match”

Different effective dates, property rights, purposes, assumptions, access, scopes and data can produce different results. Compare the assignments before deciding why numbers differ.

Practice questions

Question 1

A salesperson studies recent sales, active listings and expired listings to recommend a seller's listing range. Which product best fits?

• A. Appraisal
• B. CMA
• C. Survey
• D. Title report

Answer: B. The assignment is brokerage pricing for a prospective listing.

Question 2

Which statement best describes evaluation in the New York salesperson syllabus?

• A. It must state market value
• B. It must be completed by a certified general appraiser
• C. It studies nature, quality or utility and might not require a value estimate
• D. It is another name for a CMA

Answer: C. Highest and best use, feasibility and supply and demand are syllabus examples.

Question 3

What makes a CMA an appraisal?

• A. Three adjusted comparable sales
• B. Interior photographs
• C. A ten-page report
• D. None of these facts by themselves

Answer: D. Purpose, governing requirements, provider capacity and representation matter.

Question 4

An appraisal management company requests a BPO from a New York Article 12-A licensee. Which statement is most accurate?

• A. New York treats every BPO as an appraisal
• B. Section 160-jjjj recognizes BPO work by brokers, associate brokers and salespersons
• C. Only an unlicensed assistant can complete it
• D. A BPO may be labeled a certified appraisal

Answer: B. The statute distinguishes BPO work from appraisal work in that context.

Question 5

Who may compensate a salesperson for covered BPO work under Real Property Law section 442-a?

• A. Any client
• B. The owner directly
• C. The licensed broker with whom the salesperson is associated
• D. The local assessor

Answer: C. New York routes salesperson compensation through the associated broker.

Question 6

Which fact most strongly indicates an appraisal assignment?

• A. A seller wants a list-price range from the listing salesperson
• B. A certified appraiser is retained as a disinterested third party to develop an independent value opinion
• C. A salesperson downloads active listings
• D. A developer studies demand without estimating value

Answer: B. Provider, independence, intended use and value assignment point toward appraisal.

Question 7

Why can Regulation B call a BPO a valuation without calling it an appraisal?

• A. Valuation is a broader disclosure category
• B. BPOs contain no value conclusion
• C. Every salesperson is an appraiser
• D. Federal law removes state rules

Answer: A. The disclosure rule defines valuation broadly for its own purpose.

Question 8

A feasibility study analyzes demand and competition but reaches no dollar opinion. Which syllabus term fits best?

• A. Evaluation
• B. CMA
• C. BPO
• D. Appraisal report

Answer: A. Evaluation can study utility or feasibility without requiring value.

Question 9

Which source says a CMA does not count as qualifying New York appraiser experience?

• A. A multiple listing service advertisement
• B. The Department of State Real Estate Appraiser FAQ
• C. A listing agreement
• D. A tax bill

Answer: B. The Department separates listing-related CMA work from qualifying appraisal experience.

Question 10

A lender transaction requires an appraisal. May a BPO replace it because both use comparable sales?

• A. Yes, if the BPO costs less
• B. Yes, if it has photographs
• C. No, the applicable appraisal requirement controls
• D. Yes, if a salesperson signs it

Answer: C. Similar data does not make the products interchangeable.

Question 11

Which item belongs in a careful CMA?

• A. Protected-class composition of the neighborhood
• B. Unsupported future-profit prediction
• C. Relevant recent sales and current competition
• D. A protected appraiser title

Answer: C. The analysis should use relevant property and market evidence.

Question 12

Which statement best compares CMA and BPO?

• A. Methods can overlap, so purpose and requester often provide the better distinction
• B. A CMA is an appraisal but a BPO is not
• C. A BPO contains no value opinion
• D. Only a lender can request either product

Answer: A. Both can use comparable evidence while serving different assignments.

Frequently asked questions

Is a CMA an appraisal in New York?

No. The Department's salesperson curriculum says a CMA is an opinion of value but must not be referred to as an appraisal. It is brokerage pricing work.

Is a BPO an appraisal in New York?

A lawfully performed and accurately labeled BPO is different from a licensed or certified appraisal. It cannot be used to evade an appraisal requirement.

Can a New York salesperson prepare a CMA?

Yes, within the salesperson's work for the associated broker and competence. The CMA should be documented and clearly distinguished from an appraisal.

Can a New York salesperson perform a BPO?

Executive Law section 160-jjjj recognizes BPO work by Article 12-A brokers, associate brokers and salespersons in its appraisal-management-company provision. Broker supervision and compensation rules still apply.

Can a salesperson receive a BPO fee directly?

Real Property Law section 442-a says a salesperson may receive compensation for covered work only from the licensed broker with whom the salesperson is associated.

Does an evaluation include a value estimate?

It depends on context. Under the New York syllabus, evaluation does not necessarily require value. A federal bank evaluation for an eligible collateral transaction does estimate market value.

Is valuation the same as appraisal?

Valuation is the broader process of estimating value. An appraisal is one form of property or value analysis. A CMA, BPO or automated valuation model can also be a valuation in a particular context.

Can a CMA be used by a buyer?

Yes. A buyer-side CMA can support offer analysis. It does not bind the seller, lender or appraiser.

What is the main difference between a CMA and BPO?

The assignment usually provides the best distinction. A CMA commonly supports listing or offer strategy. A BPO answers a defined price-opinion request.

Does a BPO require an interior inspection?

The order controls the scope. Some assignments are exterior only and others include interior observations. The report should disclose access and limitations.

Can a BPO replace a mortgage appraisal?

Only when the applicable transaction rules permit that product. It cannot replace an appraisal when an appraisal is required.

Does a CMA count toward appraiser experience?

The Department's FAQ says a real estate licensee's market-value estimate connected with listing or selling property is unacceptable qualifying appraisal experience.

Is an appraisal a home inspection?

No. An appraisal addresses value or another appraisal issue within its assignment. A home inspection evaluates condition under a different professional scope.

Why might an appraisal and CMA differ?

They may use different effective dates, property rights, intended uses, scopes, assumptions, access and data. Compare the assignments and reasoning.

What should a student look for in a scenario?

Identify the requester, intended use, provider, conclusion, label, independence, authority, compensation and whether an appraisal is required.

What should you study next?

Use the Valuation Process and Pricing Properties study guide for the complete Subject 8 framework. Review New York license exemptions and related credentials for the boundary among brokerage, appraisal, inspection and mortgage work.

Then use the vocabulary-to-application guide and scenario-question method to practice classifying the assignment before selecting an answer.

Sources and verification notes

This article was checked on August 27, 2026. It separates the New York salesperson syllabus definition of evaluation from the federal banking use of the same word. It also treats Regulation B's broad valuation definition as a disclosure rule rather than a source of appraisal authority.

1. New York State Department of State, Real Estate Salesperson 77-Hour Curriculum. Subject 8 definitions, CMA status, residential market analysis, salesperson role and pricing inputs.
2. New York State Department of State, Real Estate Appraiser FAQ. Credential categories, report-title requirements and unacceptable CMA experience.
3. New York Executive Law section 160-b. Protected appraiser titles and the limit of Article 6-E's credential restriction.
4. New York Executive Law section 160-aaaa. Appraisal and appraisal-management-company definitions.
5. New York Executive Law section 160-x. Appraisal assignments and specialized services.
6. New York Executive Law section 160-jjjj. Appraisal-management-company use of appraisers, property evaluations and BPO providers.
7. New York Executive Law section 160-s. Protected appraiser titles.
8. New York Executive Law section 160-r. Appraiser credential number and title placement.
9. New York Real Property Law section 442-a. Salesperson compensation restriction.
10. Consumer Financial Protection Bureau, Regulation B official interpretation of section 1002.14. Examples of written valuations, including appraisals, automated valuation models and BPOs.
11. Consumer Financial Protection Bureau, Why did I receive different valuations?. Consumer explanation of appraisals, BPOs, automated valuation models and differing conclusions.
12. Federal Deposit Insurance Corporation, Appraisals and Other Valuation Products. Current federal appraisal and evaluation resource map.
13. Office of the Comptroller of the Currency, Agencies Clarify Expectations for the Use of Property Evaluations. Federal lending-evaluation provider and support requirements.
14. Federal Deposit Insurance Corporation, Interagency Appraisal and Evaluation Guidelines. Required appraisals, permissible evaluations and BPO limitations.

This is exam preparation and general educational material. A live valuation assignment should be classified and completed under the current law, professional standards, client instructions, lender requirements and brokerage supervision that apply to its facts.