MN Public Adjuster Practice Questions - Minnesota Public Adjuster Exam

What is 'replacement cost value' (RCV) versus 'actual cash value' (ACV)?

They are the same thing RCV pays the full cost to replace damaged property without depreciation; ACV pays replacement cost minus depreciation for age and wear ACV always pays more than RCV RCV only applies to personal property

Correct Answer:

RCV pays the full cost to replace damaged property without depreciation; ACV pays replacement cost minus depreciation for age and wear

Access more questions from this quiz

Continue to MN Public Adjuster Practice Questions - Minnesota Public Adjuster Exam for more practice questions and the full quiz experience.

Access More Questions