Adjuster Pro - Florida Certified Adjuster Glossary _ Questions & Correct Answers

Adjuster Pro - Florida Certified Adjuster Glossary _ Questions & Correct Answers

Accumulated Depreciation
TERM
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)
TERM
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)

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