MN Public Adjuster Practice Questions - Minnesota Public Adjuster Exam

What is 'functional replacement cost'?

The cost of the cheapest possible repair The cost to replace damaged property with property that serves the same function using current materials and methods, even if different from the original The fair market value of the property The cost of temporary repairs only

Correct Answer:

The cost to replace damaged property with property that serves the same function using current materials and methods, even if different from the original

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