Adjuster Pro
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Accumulated Depreciation correct answers 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 answers 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 answers One of the characteristics of an insurance contract. Means that one party (the insurer) sets the ...
Accumulated Depreciation correct answers 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 answers 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 answers One of the characteristics of an insurance contract. Means that one party (the insurer) sets the ...
What is insurance? correct answers protection against financial loss 
 
what is a premium correct answers a scheduled amount to be paid for an insurance policy. 
 
What are premiums used for correct answers premiums are collected into a "pool" or "reserve to pay out claimants when needed. 
 
how can insurance companies afford to pay for an individuals catastrophic loss? correct answers the insurer collects premiums from all policy holders and uses them to pay out the claims of a few. 
 
what ...
ADJUSTER PRO - INSURANCE ADJUSTER TEST(QUESTIONS AND REVIEWED ANSWERS) What is insurance? - CORRECT ANSWER-protection against financial loss what is a premium - CORRECT ANSWER-a scheduled amount to be paid for an insurance policy. What are premiums used for - CORRECT ANSWER-premiums are collected into a
ADJUSTER PRO - INSURANCE ADJUSTER TEST(QUESTIONS AND REVIEWED ANSWERS) What is insurance? - CORRECT ANSWER-protection against financial loss what is a premium - CORRECT ANSWER-a scheduled amount to be paid for an insurance policy. What are premiums used for - CORRECT ANSWER-premiums are collected into a
ADJUSTER PRO - INSURANCE ADJUSTER TEST(QUESTIONS AND REVIEWED ANSWERS) What is insurance? - CORRECT ANSWER-protection against financial loss what is a premium - CORRECT ANSWER-a scheduled amount to be paid for an insurance policy. What are premiums used for - CORRECT ANSWER-premiums are collected into a
Adjuster Pro - Insurance adjuster test 
2023 100% Correctly Answered 
What is insurance? - CORRECT ANS protection against financial loss 
what is a premium - CORRECT ANS a scheduled amount to be paid for an 
insurance policy. 
What are premiums used for - CORRECT ANS premiums are collected into a 
"pool" or "reserve to pay out claimants when needed. 
how can insurance companies afford to pay for an individuals catastrophic loss? - 
CORRECT ANS the insurer collects premiums from all policy ...
Adjuster Pro - Insurance adjuster test 
2023 100% Correctly Answered 
What is insurance? - CORRECT ANS protection against financial loss 
what is a premium - CORRECT ANS a scheduled amount to be paid for an 
insurance policy. 
What are premiums used for - CORRECT ANS premiums are collected into a 
"pool" or "reserve to pay out claimants when needed. 
how can insurance companies afford to pay for an individuals catastrophic loss? - 
CORRECT ANS the insurer collects premiums from all policy ...
Adjuster Pro - Florida Certified 
Adjuster Glossary 2023 Questions and 
Answers 100% verified 
Accumulated Depreciation - CORRECT 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) - CORRECT 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 - CORRECT ANS One ...
Glossary of Terms - Adjuster Pro 
Certification Questions and Answers 
2023 100% Verified 
Accumulated Depreciation - CORRECT 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) - CORRECT 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 - CORRECT ANS One o...