Damage appraisal - Study guides, Class notes & Summaries

MAC3703 Assignment 2 (DETAILED ANSWERS) Semester 1 2024 - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED Answers, guidelines, workings and referencesQUESTION 1 (20 MARKS) DNF Waste & Environmental Services (DNF) is an Environmental Management and Waste Management Services Company that was created in 2008. It is one of the leading waste and environmental management service providers in South Africa. DNF is a 100% Black woman owned business and is a Level 1 Value Added S...

Damage Appraisal License Test Exam Questions and Verified Solutions 2024 Subrogation One insurance company sues another to recover cost to repair insured's car Release Two insurance companies agreed or insured agrees ACV Actual Cash Value, cost new less depreciation Arbitration Only way in insurance policy to dispute claim amount. Two appraisers agree or go to umpire LQK Like, Kind, Quality Solenoid Located between battery and starter motor Exhaust Parts-CAT converter, muffler,pi...

Accumulated Depreciation - ANSWERSThe total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date - ANSWERSThe deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Actual Cash Value (ACV) - ANSWERSA valuation method used by insurers to reflect an item's current market value right before being damaged ...

TX ADJUSTER TESTSubrogate Subrogation is the right for an insurer to legally pursue a third party that caused an insurance loss to the insured. This is done as a means of recovering the amount of the claim paid by the insurance carrier to the insured for the loss. - correct answer While investigating a claim, you determine that the loss was caused by a defective mechanism in the dishwasher. You would attempt to_________________________? Appraisal - correct answer What is the process when an i...

Abandonment - - Insurance company may choose to take damaged property and pay insured the value - Insured CANNOT surrender damaged property to insurance company Active Retention - Identify the loss/risk exposure and really consider the risk itself and all the measures around it. (ex. Should we transfer it, retain it etc.) Admitted (standard or retail) Insurance companies - Regulated by the state, They often must subscribe to rating and form regulations of that state. Agent or Broker - "I...

New York State Auto Damage and Theft Quiz 17-71 Correctly Answered 2024/2024 Jim Smith is involved in a collision claim and is no longer able to use the vehicle to go to work. This "loss of use" is referred to as a: Direct loss Indirect loss Loss evaluation Consequential loss - CORRECT ANSWER-Consequential loss When the rear of the vehicle is damaged and there is a gap between the trunk lid and the quarter panel, what else on the vehicle should the appraiser check? The center...

NEW YORK STATE AUTO DAMAGE AND THEFT QUIZ 17-71 Correctly Answered 2024 Jim Smith is involved in a collision claim and is no longer able to use the vehicle to go to work. This "loss of use" is referred to as a: Direct loss Indirect loss Loss evaluation Consequential loss - Answer -Consequential loss When the rear of the vehicle is damaged and there is a gap between the trunk lid and the quarter panel, what else on the vehicle should the appraiser check? The center pillar The trunk ...

2024 PA APPRAISAL LICENSE 16-20 AUTO PHYSICAL DAMAGE ACTUAL QUESTIONS WITH CORRECT ANSWERS VERIFIED BY EXPERTS-ALREADY GRADED A+2024 PA APPRAISAL LICENSE 16-20 AUTO PHYSICAL DAMAGE ACTUAL QUESTIONS WITH CORRECT ANSWERS VERIFIED BY EXPERTS-ALREADY GRADED A+2024 PA APPRAISAL LICENSE 16-20 AUTO PHYSICAL DAMAGE ACTUAL QUESTIONS WITH CORRECT ANSWERS VERIFIED BY EXPERTS-ALREADY GRADED A+2024 PA APPRAISAL LICENSE 16-20 AUTO PHYSICAL DAMAGE ACTUAL QUESTIONS WITH CORRECT ANSWERS VERIFIED BY EXPERTS-ALREA...

Which of the following would create legally binding acceptance of a written offer? -The seller's agent emails the buyer's agent that the seller signed the offer as written. A broker is preparing a comparative market analysis (CMA) for a subject property with 3200 square feet. A comparable property has 2750 square feet. The estimated value of 450 additional square feet is $22,500. The broker should... -Add $22,500 to the sales price of the comparable property. An option to purchase has bee...

PA Appraisal License 16-20 Auto Physical Damage questions and answers A+ score assured 2024/2025