Definition of acv - Study guides, Class notes & Summaries

CAIB 2 - Chapter 1 Questions And Answers Exam Review The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: - ANS-1) the value of the lost or damaged property (ACV) 2) the interest of the insured in the property (ex. financial interest, home, mortgage) 3) the amount of insurance specified on the "Declarations Page" for the loss or damaged property (least amount|) Identify the four categories that buildings may fall into: - ...

SUPER-DUPER TEXAS ADJUSTER LICENSE ACTUAL EXAM SOLVED COMPLETE 300+ QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ NEW VERSION!! 1. Homeowners Policy: Be familiar with the HO-A, HO-B, and HO-C perils exclusions -name 16 - ANSWER 1. Electrical devices or wiring caused by electricity other than lighting 2. Flood/water damage 3. Earth Movement 4. Governmental action 5. Ordinance or law 6. War 7. Nuclear damage 8. Mold 9. Neglect ...

The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: - ANSWER-1) the value of the lost or damaged property (ACV) 2) the interest of the insured in the property (ex. financial interest, home, mortgage) 3) the amount of insurance specified on the "Declarations Page" for the loss or damaged property (least amount|) Identify the four categories that buildings may fall into: - ANSWER-Residential (ex. home) Non-mercantile (ex...

The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: - ️️1) the value of the lost or damaged property (ACV) 2) the interest of the insured in the property (ex. financial interest, home, mortgage) 3) the amount of insurance specified on the "Declarations Page" for the loss or damaged property (least amount|) Identify the four categories that buildings may fall into: - ️️Residential (ex. home) Non-mercantile (ex. ...

CISR Insuring Commercial Property Exam 146 Questions with Answers Select the answer that most closely describes Actual Cash Value (ACV). - CORRECT ANSWER A method of establishing the value of property wherein depreciation and obsolescence are deducted from the value of the property. Select the answer that most closely describes Functional Replacement Cost. - CORRECT ANSWER A provision which changes the policy valuation so as to provide for replacement with a different structure which per...

The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: - CORRECT ANSWER-1) the value of the lost or damaged property (ACV) 2) the interest of the insured in the property (ex. financial interest, home, mortgage) 3) the amount of insurance specified on the "Declarations Page" for the loss or damaged property (least amount|) Identify the four categories that buildings may fall into: - CORRECT ANSWER-Residential (ex. home) No...

The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: correct answers1) the value of the lost or damaged property (ACV) 2) the interest of the insured in the property (ex. financial interest, home, mortgage) 3) the amount of insurance specified on the "Declarations Page" for the loss or damaged property (least amount|) Identify the four categories that buildings may fall into: correct answersResidential (ex. home) Non-me...

- ANSWER The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: - ANSWER1) the value of the lost or damaged property (ACV) 2) the interest of the insured in the property (ex. financial interest, home, mortgage) 3) the amount of insurance specified on the "Declarations Page" for the loss or damaged property (least amount|) 5) Fixed structures PERTAINING to building and located on the premises (ex. fence) [GMAPF] ...

What is the definition of a public adjuster? - An adjuster who works for the insured If an insurance company is fined (max $1000) by commissioner, how many days do they have to pay or appeal the fine? - 30 Days Subrogation occurs when? - The insurer steps into the position of the insured and may collect from the responsible party for damages What is the purpose of excess insurance? - To provide additional liability coverage above and beyond that which is provided by the primary policy How...

NC Adjuster License Practice Exam (With Complete Solution) 2024/2025| Graded A+ 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: - ️️ - The maximum monthly limit of indemnity optional coverage The traditional definition of actual cash value (ACV) is: - ️️ - Replacement cost minus depreciation Sam and Dan are working ...