Actual cash value Study guides, Class notes & Summaries

MAC3702 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 - DUE 12 September 2024. MAC3702 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 - DUE 12 September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. QUESTION 1 (25 marks; 45 minutes) Lesidi Limited, a company listed on the Johannesburg Stock Exchange (JSE), specialises in manufacturing paint. Their flagship product, Yizo, has been rated the best paint by the South African Paint Association for the past ten years. This top...

NC ADJUSTER LICENSE PRACTICE EXAM 2024/2025 QUESTIONS WITH CORRECT ANSWERS ALREADY PASSED AND VERIFIED Manny is purchasing a Commercial Property policy with a Business Income form included. Manny can select from any of the following as a method to provide coverage, while avoiding the coinsurance requirement, EXCEPT: - CORRECT ANSWER The maximum monthly limit of indemnity optional coverage The traditional definition of actual cash value (ACV) is: - CORRECT ANSWER Replacement cost min...

Agent Thompson received a letter from the Department of Insurance asking her to provide proof of completing the continuing education requirements. Within how many days must Agent Thompson respond to the Department's inquiry? 20 30 10 45 - ANSWER 10 days Abby lives in Ohio, where she is licensed as an insurance producer. She wants to apply for a nonresident license in Pennsylvania. Which of the following conditions must she satisfy? She must move to Pennsylvania. She must surrende...

Asset Turnover Ratio - ANSWER-net sales/average total assets Profit Margin Ratio - ANSWER-net income/total sales Rate of return on assets - ANSWER-net income/average total assets Current ratio - ANSWER-current assets/current liabilities acid-test ratio - ANSWER-(cash + short-term investments + net receivables) / current liabilities rate of return on common stock equity - ANSWER-(net income - preferred dividends) / average common stockholders' equity payout ratio - ANSWER-cash ...

TEST BANK Enterprise Risk Management S - The Marketplace to Buy and Sell your Study Material 1 RSK2601 TEST BANK Question 1 Which one of the following is a benefit of effective risk and opportunity management? 1) Improved profit certainty 2) Increased shareholder value 3) Increased stakeholder confidence Correct option 3 4) Lower economic returns Explanation Improved cost certainty, sustainable shareholder value, increased stakeholder confidence and higher economic returns...

Michigan Variable Annuities ExamOther names for pure life settlement - correct answer -life income -life annuity What annuity settlement option produces the largest monthly income guaranteed for life? - correct answer pure life settlement option second life contingency option - correct answer life with period certain (ie. 10 years) so even if the annuitant does or does not die within that timeframe, insurer guarantees to continue the annuity payments to a named beneficiary for the bala...

the one basic characteristic of any type of insurance is that the insured is returned to the same status that existed prior to the loss, but without a chance for gain or profit - correct answertrue which of the following coverages does an open peril policy provide? - correct answerperils other than those specifically named as being excluded determine the actual cash value in the following situation: original price of office equiptment when purchased 8 years ago- 9,000. depreciated amount a...

TEST FOR ADJUSTER PRO, FLORIDA STUDY(QUESTIONS AND ANSWERS)A+ GRADED EXAM 2023-2024 - CORRECT ANSWER-Subtract the deductible from covered damages to get indemnification - CORRECT ANSWER-6 unique characteristics of insurance policy 1 Contracts of adhesion (court ez win) 2 Utmost good faith 3 aleatory 4 personal 5 Unilateral (only insurer has obligation) 6 Conditional - CORRECT ANSWER-1945 regulate insurance Naic doesn't give benefits to comissioners 90 day to pay hijacking on...

ACV - actual cash value After Market Parts - Parts produced by a 3rd party for use on automobiles. Betterment - An improvement made to and automobile that increases its value, rather than a repair that simply maintains its current value BL - Blend Blend - This operation is equal to half the RF time on a panel. Blend would be necessary if an adjacent panel required some paint so the color would match. If damage is within 18" of an adjacent panel then blend. Allow 36" if it is a metallic ...

State Farm Property 2023 In property insurance actual cash value is defined as which of the following - ANSWER-Replacement cost at the time of the loss, less depreciation Peril is most easily defined as - ANSWER-the cause of loss insured against What is a leading factor in the determination of actual cash value - ANSWER-replacement cost Replacement cost is defined as - ANSWER-full replacement of property at its current cost, new and without reduction for depreciation Property insu...