,1. Multiple Choice: What is the primary purpose of adding labor
burdens in Xactimate?
a) To account for the indirect costs associated with labor
b) To calculate the total cost of materials
c) To adjust the claim amount for inflation
d) To track the time spent on labor tasks
Answer: a) To account for the indirect costs associated with
labor. Labor burdens are added to ensure that the estimate
accurately reflects all the costs that a contractor would incur,
including indirect costs such as insurance, taxes, and benefits.
2. True/False: Tag visibility in Xactimate allows users to control
which items are visible based on the tags assigned.
Answer: True. Tag visibility is a feature that enables users to
filter items within an estimate based on assigned tags, enhancing
the organization and management of the estimate.
, ability to create detailed and accurate sketches by providing tools
for precise measurements, organization, customization, and
integration of existing plans.
4. Multiple Choice: When adjusting market condition distribution
in Xactimate, what is the primary factor to consider?
a) The contractor's preference
b) The geographical location of the property
c) The age of the property
d) The policyholder's insurance coverage limits
Answer: b) The geographical location of the property. Market
conditions vary by location and can significantly affect the cost of
repairs and replacements, making it essential to adjust estimates
accordingly.
5. True/False: The ability to import contact information into
Xactimate streamlines the claims process by auto-populating
fields related to the insured and other stakeholders.
Answer: True. Importing contact information helps to reduce
manual data entry, minimize errors, and save time during the
claims handling process.
6. Multiple Choice: What is the function of the 'Sales Tax' feature
in Xactimate's pricing?
a) To apply discounts to estimates
b) To calculate the appropriate sales tax based on the property's
location
c) To adjust the price list according to market trends
d) To record the payment history of the claim
Answer: b) To calculate the appropriate sales tax based on the
property's location. This ensures that the estimate is compliant
with local tax laws and accurately reflects the total cost.
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller honors. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
