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FLORIDA PROPERTY & CASUALTY INSURANCE, GLOSSARY FOR 220 LICENSE, FLORIDA 2-20 AGENTS LICENSE EXAM QUESTIONS TEST BANK TESTED AND VERIFIED| ACCURATE FOR GUARANTEED PASS| GRADED A+| CONTAINS 1000+ Q&A

Adjuster Pro - Florida Certified Adjuster Glossary _ Q&A

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...

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 ...

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 oth...

Adjuster Pro - Florida Certified Adjuster Glossary| 260 QUESTIONS | 2024

Florida Property & Casualty Insurance, Glossary For 220 License, Florida 2-20 Agents License Exam – Q&A

FLORIDA PROPERTY & CASUALTY INSURANCE, GLOSSARY FOR 220 LICENSE, FLORIDA 2-20 AGENTS LICENSE EXAM QUESTIONS TEST BANK TESTED AND VERIFIED| ACCURATE FOR GUARANTEED PASS| GRADED A+| CONTAINS 1000+ Q&A

Accumulated Depreciation (Ans- 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) (Ans- 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 (Ans- One of the characteristics of an insurance contract. Means that one party (the insurer) sets the terms, and the other (th...

FLORIDA PROPERTY & CASUALTY INSURANCE, GLOSSARY FOR 220 LICENSE, FLORIDA 2-20 AGENTS LICENSE EXAMS TEST BANK ALL QUESTIONS AND CORRECT DETAILED ANSWERS TOP RATED VERSION FOR ALREADY A GRADED HIGHLY RECOMMENDED BY EXPERTS | NEW AND REVISED