KS Public Adjuster Practice Questions - Kansas Public Adjuster Exam

Which of the following best describes 'depreciation' in commercial property claims?

An increase in property value over time The reduction in value of property due to age, wear, obsolescence, and condition, which is deducted from replacement cost to arrive at actual cash value A tax benefit for the business owner The cost of removing debris after a loss

Correct Answer:

The reduction in value of property due to age, wear, obsolescence, and condition, which is deducted from replacement cost to arrive at actual cash value

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