Adjuster Pro - Florida Certified Adjuster Glossary Latest 2024/2025 Questions & Answers Verified Answers (100% CORRECT ANSWERS)
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 (the insured) can 'take it or leave it.' Adjusted Gross Revenue (CropInsurance) - ANSWER Narrowest (and least expensive) form of Crop Revenue Insurance. Insures farm revenue as a whole instead of individual crops. Guarantees a percentage of the insured farm's average revenue. Adjuster - ANSWER An agent who, for compensation, processes insurance claims. Can represent either the insured or the insurer.
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- Adjuster Pro - Florida Certified Adjuster Glossary
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- Adjuster Pro - Florida Certified Adjuster Glossary
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adjuster pro florida certified adjuster glossary
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accumulated depreciation answer the total de
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actual cash value acv answer a valuation m
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adhesion answer one of the characteristics
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