Exam (elaborations)
Texas All Lines Adjuster Test Correct Questions & Answers!!
- Course
- Institution
Actual Cash Value (ACV) - ANSWER A valuation method used by insurers to reflect an item's current market value right before being damaged or destroyed. Formula: (Replacement cost - Accumulated Depreciation) Adhesion - ANSWER Characteristic of an insurance contract. Means that one party (the insu...
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