Property Insurance Fundamentals第 208 / 474 题
Depreciation, when an insurer computes the actual cash value of damaged property, is measured mainly by the property's:
a.share of premium the insured has paid
b.drop in resale price since purchase
c.age, wear and remaining useful life
d.gap between cost and the policy limit
解析
Actual cash value is replacement cost minus depreciation, and depreciation estimates the value used up through age, wear and the remaining useful life of the item. The answer built on resale price confuses depreciation with market movement, which can rise or fall for reasons unrelated to wear. The premium an insured has paid has no bearing on how much value the property has lost.
免费刷完整 474 道题库 — 无需注册。
Own the complete Personal Lines Insurance Producer guide — PDF + EPUB, $19.99 →
同考点相关题目
- A homeowner has a $1,000 deductible and suffers a covered $6,000 loss. How much will the insurer pay?
- Which of the following is typically NOT covered under a standard homeowners property form?
- After paying a claim, an insurer's right to recover from the person who caused the loss is called:
- A roof with a 20-year useful life is 15 years old when hail destroys it. Replacement cost is $16,000, the roof is settled at actual cash value, and the deductible is $1,000. The insurer pays:
- On a standard unendorsed homeowners form, how do the loss settlement bases for the dwelling and for personal property differ?
- Under a replacement cost settlement, why does the insurer first pay only the actual cash value of the damage?
最近核对： · 审核流程
PrepPass 团队 · 依据官方资料核对 California Personal Lines Insurance License Exam · 我们如何核对