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PA Appraiser Exam With The Correct Answer
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PA Appraiser Exam With The Correct Answer
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PA Appraiser Exam With The CorrectAnswers
Principle vfof vfIndemnity vf- vf vfcorrect vfanswer- vfrestoration vfto vfapproximate vfprevious vffinancial
vfcondition; vfno vfmore, vfno vfless
Insurable vfInterest vf- vf vfcorrect vfanswer- vfdirect vffinancial vfinterest vfin vfprotecting vfsomething vfor
vfsomeone
Lender vfInterest vf- vf vfcorrect vfanswer- vfprotects vfa vflender vfwho vfloans vfmoney vfto vfa vfbuyer
,Risk vf- vf vfcorrect vfanswer- vfpotential vffor vffinancial vfloss vfor vfan vfinsured vfitem
Exposure vf- vf vfcorrect vfanswer- vfis vfopenness vfto vfloss vfor vfdamage
hazard vf- vf vfcorrect vfanswer- vfthing vfthat vfincreases vfthe vfpossibility vfto vfloss
moral vfhazard vf- vf vfcorrect vfanswer- vfresults vffrom vfpolicyholder's vfconscious vfdecision
physical vfhazard vf- vf vfcorrect vfanswer- vfconditions vfthat vfincrease vfthe vfchance vfof vfloss
Peril vf- vf vfcorrect vfanswer- vfthe vfactual vfcause vfof vfloss vfor vfdamage
Loss vf- vf vfcorrect vfanswer- vffinancial vfloss vfdue vfto vfan vfoccurrence vfor vfaccident
Proximate vfcause vf- vf vfcorrect vfanswer- vfthe vfprimary vfevent vfor vfseries vfof vfevents vfthat vfdirectly
vfleads vfto vfan vfinsured vfloss
Direct vfloss vf- vf vfcorrect vfanswer- vfphysical vfharm vfto vftangible vfproperty vfcaused vfby vfa vfperil. vfEx:
vfTree vffalls vfon vfcar
Indirect vfloss vf- vf vfcorrect vfanswer- vfadded vfexpenses vfor vflost vfincome vfbecause vfof vfphysical
vfdamages. vfEx: vfrental vfcar
Occurrence vf- vf vfcorrect vfanswer- vfan vfevent, vfincident, vfor vfcondition vfthat vfcauses vfdamage
ACV vf(Actual vfCash vfValue) vf- vf vfcorrect vfanswer- vfReplacement vfcost vf- vfdepreciation
, replacement vfcost vf- vf vfcorrect vfanswer- vfmethod vfof vfvaluation vfbased vfon vfcost vfof vfreplacing vfan
vfitem vfat vfcurrent vfmarket vfprices, vfregardless vfof vfdepreciation
Functional vfreplacement vfcost vf- vf vfcorrect vfanswer- vfpays vfto vfreplace vfan vfoutdated, vfobsolete
vfitem vfwith vfa vffunctionally vfequivalent vfitem
Stated vfamount vf- vf vfcorrect vfanswer- vfproperty vfvalue vfis vfstated vfby vfthe vfinsured vfwhen vfapplying
vffor vfinsurance
insurance vfpolicy vf- vf vfcorrect vfanswer- vfthe vflegal vfcontract vfb/w vfthe vfinsurer vfand vfthe vfinsured
cancellation vfand vfnonrenewal vf- vf vfcorrect vfanswer- vfinsured vfmay vfcancel vfat vfany vftime, vfbut vfthe
vfinsurer vfis vfmuch vfmore vfrestricted
declarations vfpage vf- vf vfcorrect vfanswer- vfnames vfof vfboth vfparties
policy vf#
location vfand vfdescription vfof vfinsured vfitem
deductible
premium
first vfnamed vfinsured vf- vf vfcorrect vfanswer- vfthe vf1st vfperson vfor vforganization vflisted vfon vfthe vfdec
vfpage
additional vfinsured vf- vf vfcorrect vfanswer- vfperson vfor vforg. vfthat vfis vfadded vfto vfthe vfpolicy vfat vfthe
vfrequest vfof vfthe vffirst vfnamed vfinsured vfand vfbenefits vffrom vfpolicy, vfbut vfis vfnot vfallowed vfto
vfmake vfchanged
Loss vfPayable vfClause vf- vf vfcorrect vfanswer- vflender vflisted vfas vfloss vfpayee vfif vfa vfloss vfoccurs
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