Adjuster Pro - Florida Certified Adjuster Glossary _ Q&a

ImportAdd diagramCr eate a ne w s tudy setSave d 260 terms under 1 min agoCr eateTitl eAdju ster Pr o - Fl orida C ertifie d Adju ster Gl ossar yDescriptionA dju ster Pr o - Fl orida C ertifie d Adju ster Gl ossar y _ Que stions & C orr ect A ns wer s1Accumul ated Depr eciationTERMThe tot al decr ease in an item 's v al ue over a perio d of time . Formul a: (A nnual Depr eciation x Number o f y ear s used)DEFINITIONIMA GECour se co de or nameVir ginia S ta te Univ ersity Vir ginia S ta te Univ ersity , V A234Actual Cash Val ue ( ACV)TERMA v al ua tion metho d used by insurers t o r e fl ect an it em's curr ent mark et v al ue right be for e being damaged or des troy ed. F ormul a: (Repl acement cos t - A ccumul ated Depr eciation)DEFINITIONIMAGEAdhesionTERMOne of the char act eris tics o f an insur ance contract . Means tha t one p arty (the insur er) sets the t erms, and the other (the insur ed)