Adjuster pro florida - Study guides, Class notes & Summaries

Adjuster Pro - Florida Certified Adjuster Glossary 2024/2025 already graded A+

Adjuster Pro - Florida Certified Adjuster Glossary Exam Questions and Answers 2024( A+ GRADED 100% VERIFIED).

Adjuster Pro - Florida Certified Adjuster Glossary| 260 QUESTIONS| 19 PAGES

ADJUSTER PRO - FLORIDA CERTIFIED ADJUSTER GLOSSARY EXAM | WITH QUESTIONS & ANSWERS | GRADED A+ | 2023- 2024 UPDATE Accumulated Depreciation Correct 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) Correct Answer: A valuation method used by insurers to reflect an item's current market value right before being damaged or destroyed. Formula: (Replacement cost - Accumulated Depreciation...

Adjuster Pro - Florida Certified Adjuster Glossary**

Accumulated Depreciation Correct 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) Correct Answer: A valuation method used by insurers to reflect an item's current market value right before being damaged or destroyed. Formula: (Replacement cost - Accumulated Depreciation) Adhesion Correct Answer: One of the characteristics of an insurance contract. Means that one party (the insurer) sets t...

Adjuster Pro - Florida Certified Adjuster Glossary Exam Questions with Correct Answers Commercial Property Floater - Answer-A means of protecting a business' property that is not in one fixed location. Common Law - Answer-Based on court decisions and customs when statutory law does not provide an answer; creates precedent. Compensatory Damages - Answer-Money awarded in civil court for tangible and intangible damages caused by a policyholder Compensatory damages -Special - Answer-Mon...

Florida Claims Adjuster Multiple choice questions Exam | 206 Questions with 100% Correct Answers Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests - D. All listed interests Remember that the insurer is not responsible to know the degrees of interest. In the event of a lo...

Accumulated Depreciation - 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-A valuation method used by insurers to reflect 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. Means that one party (the insurer) sets the terms, and the other ...