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g g g g g
g g g g g g Create
Title
AdjustergProg -g FloridagCertifiedgAdjustergGlossary
Description
AdjustergProg -g FloridagCertifiedgAdjustergGlossaryg_gQuestionsg&gCorrectgAnswers
VirginiagStategUniversityg·gVirginiagStategUniversity,gVA
Coursegcodegorgname
1
Accumulatedg Depreciation Thegtotalgdecreasegingangi
tem'sgvaluegovergagperi
TERM
odgofgtime.gFormula:g(An
nualgDepreciationgxgNu
mbergofgyearsgused)
DEFINITION
,2
ActualgCashgValueg(ACV) Agvaluationgmethodguse
dgbyginsurersgto
TERM
reflectgangitem'sgcurrentg
marketgvaluegright
beforegbeinggdamagedg
orgdestroyed.gFormula:g(
Replacementgcostg-
gAccumulated
Depreciation)
DEFINITION
3
Adhesion Onegofgthe
characteristicsgofgangins
TERM
urancegcontract.
Meansgthatgonegpartyg(t
heginsurer)gsetsgthegterm
s,gandgthegotherg(theginsur
ed)gcang'takegitgor
leavegit.'
DEFINITION
4
,AdjustedgGrossgRevenueg Narrowestg(andgleastgex
(CropInsurance) pensive)gformgofgCropgRe
venuegInsurance.
TERM
Insuresgfarmgrevenuegasg
agwholeginsteadgof
individualgcrops.
Guaranteesga
percentagegofgthe
insuredgfarm'sgaveragegr
evenue.
DEFINITION
5
Adjuster Angagentgwho,gforgcomp
ensation,
TERM
processesginsurancegcl
aims.gCangrepresent
eithergtheginsuredgorgtheg
insurer.
DEFINITION
6
Adjusterg-gEmergency Adjustersgwhogare
temporarilyglicensedgbyg
TERM
theginsurance
commissionergtoghandle
, claimsgduring
catastrophesgor
gemergencies gtha
tgproducegan
overwhelminggnumberg
ofgclaimsgingagshortgpe
riodgofgtime.
DEFINITION
7
Adjusterg-gIndependent Self-
employedgadjustersgwhog
TERM
contractgwith
multipleginsurersgatgtheg
samegtime.gPaidgongagco
mmissiongorgfee-plus-
gexpenses gbasisgfor geach g
claim.gAlsogcalled:gFeeg
Adjuster,gBureaugAdju
ster
DEFINITION
8
Adjusterg-gPublic Angadjustergwhogisghiredg
togrepresentgthe
TERM
claimantgandghelpgdeter
minegagfair
indemnification.Usuallyg
g g g g g
g g g g g g Create
Title
AdjustergProg -g FloridagCertifiedgAdjustergGlossary
Description
AdjustergProg -g FloridagCertifiedgAdjustergGlossaryg_gQuestionsg&gCorrectgAnswers
VirginiagStategUniversityg·gVirginiagStategUniversity,gVA
Coursegcodegorgname
1
Accumulatedg Depreciation Thegtotalgdecreasegingangi
tem'sgvaluegovergagperi
TERM
odgofgtime.gFormula:g(An
nualgDepreciationgxgNu
mbergofgyearsgused)
DEFINITION
,2
ActualgCashgValueg(ACV) Agvaluationgmethodguse
dgbyginsurersgto
TERM
reflectgangitem'sgcurrentg
marketgvaluegright
beforegbeinggdamagedg
orgdestroyed.gFormula:g(
Replacementgcostg-
gAccumulated
Depreciation)
DEFINITION
3
Adhesion Onegofgthe
characteristicsgofgangins
TERM
urancegcontract.
Meansgthatgonegpartyg(t
heginsurer)gsetsgthegterm
s,gandgthegotherg(theginsur
ed)gcang'takegitgor
leavegit.'
DEFINITION
4
,AdjustedgGrossgRevenueg Narrowestg(andgleastgex
(CropInsurance) pensive)gformgofgCropgRe
venuegInsurance.
TERM
Insuresgfarmgrevenuegasg
agwholeginsteadgof
individualgcrops.
Guaranteesga
percentagegofgthe
insuredgfarm'sgaveragegr
evenue.
DEFINITION
5
Adjuster Angagentgwho,gforgcomp
ensation,
TERM
processesginsurancegcl
aims.gCangrepresent
eithergtheginsuredgorgtheg
insurer.
DEFINITION
6
Adjusterg-gEmergency Adjustersgwhogare
temporarilyglicensedgbyg
TERM
theginsurance
commissionergtoghandle
, claimsgduring
catastrophesgor
gemergencies gtha
tgproducegan
overwhelminggnumberg
ofgclaimsgingagshortgpe
riodgofgtime.
DEFINITION
7
Adjusterg-gIndependent Self-
employedgadjustersgwhog
TERM
contractgwith
multipleginsurersgatgtheg
samegtime.gPaidgongagco
mmissiongorgfee-plus-
gexpenses gbasisgfor geach g
claim.gAlsogcalled:gFeeg
Adjuster,gBureaugAdju
ster
DEFINITION
8
Adjusterg-gPublic Angadjustergwhogisghiredg
togrepresentgthe
TERM
claimantgandghelpgdeter
minegagfair
indemnification.Usuallyg
