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Home Quizzes CFP DEPR Depreciation Guidelines Quiz

The following questions will assess your understanding of the material presented.  You must complete the quiz with a passing score of 70% to proceed to the next module.  If you do not successfully complete the quiz, please review the material and repeat the quiz.

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    1. Question

    Recap Report by Category with Depreciation

    In the example above, a vehicle lost control and drove into the insured’s dwelling, causing damage to the bathroom. The exterior wall was crushed, and there was damage to the shower, vanity, drywall, flooring, insulation and siding. Per the CA Fair Claim Settlement Practices and FAIR Plan guidelines, is depreciation correctly applied to the trade (construction) categories as shown above? 

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    2. Question

    Based on the data in the item description above, which of the following is most true? Keep in mind the CA Fair Claim Settlement Practices requirements and FAIR Plan guidelines.

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    3. Question

    An insured has a TV that was damaged during a fire. Which of the following items would the adjuster need to know about the TV in order to appropriate apply depreciation (check all that apply):

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    4. Question

    In the above example, an insured has submitted their inventory for personal property damaged in the loss. This submission would be sent back because the insured did not individually list each pair of jeans but instead grouped them in the inventory report. 

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