Accumulated depresciation - Study guides, Class notes & Summaries
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Texas All-Lines Adjusting Correct 100%
- Exam (elaborations) • 16 pages • 2023
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Accumulated Depresciation -ANSWER The total decrease in an item's value over a period of time. 
Formula: (Annual Depreciation x Number of years used) 
 
Actual Cash Value (ACV) -ANSWER An item's current market value right before being damaged or destroyed. 
Formula: (Replacement Cost-Accumulated Depreciation) 
 
Adhesion -ANSWER One of the characteristics of an insurance contract. 
One party sets the terms and the other party can "take it or leave". 
 
Adjusted Gross Revenue (Crop Insura...
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Texas All-Lines Adjusting practice questions 2023/2024
- Exam (elaborations) • 23 pages • 2023
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Accumulated Depresciation aanswers - The total decrease in an item's value over a period of time. 
Formula: (Annual Depreciation x Number of years used) 
 
Actual Cash Value (ACV) aanswers - An item's current market value right before being damaged or destroyed. 
Formula: (Replacement Cost-Accumulated Depreciation) 
 
Adhesion aanswers - One of the characteristics of an insurance contract. 
One party sets the terms and the other party can "take it or leave". 
 
Adjusted Gross Revenue (Crop ...
-
Texas All Lines Adjuster Exam Questions With Complete Solution
- Exam (elaborations) • 20 pages • 2023
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Texas All Lines Adjuster Exam Questions With Complete Solution 
Accumulated Depresciation - CORRECT ANSWERS The total decrease in an item's value over a period of time. 
Formula: (Annual Depreciation x Number of years used) 
 
Actual Cash Value (ACV) - CORRECT ANSWERS An item's current market value right before being damaged or destroyed. 
Formula: (Replacement Cost-Accumulated Depreciation) 
 
Adhesion - CORRECT ANSWERS On...
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