1) Residual deductible (2points) a) The value of an item after depreciation is subtracted from its replacement cost. b) A policy rule that limits roof payouts based on age or condition. c) The cost to replace an item with a new one of the same kind and quality. d) The amount of the deductible still unpaid after a partial claim payout. 2) ACV (1 point) a) The amount the homeowner must pay before insurance pays for a claim. b) The value of an item after depreciation is subtracted from its replacement cost. c) An addition or change to an insurance policy that alters coverage. d) The cost to replace an item with a new one of the same kind and quality. 3) RPS (Roof Surface Payment Schedule) (2 points) a) The amount of the deductible still unpaid after a partial claim payout. b) The percentage used to calculate how much the insurer will pay for the roof under the RPS. c) A policy rule that limits roof payouts based on age or condition. d) The value of an item after depreciation is subtracted from its replacement cost. 4) RPS Factor (3points) a) The amount of the deductible still unpaid after a partial claim payout. b) The value of an item after depreciation is subtracted from its replacement cost. c) The percentage used to calculate how much the insurer will pay for the roof under the RPS. d) The cost to replace an item with a new one of the same kind and quality. 5) Policy Endorsement (2 points) a) The amount of the deductible still unpaid after a partial claim payout. b) A policy rule that limits roof payouts based on age or condition. c) The value of an item after depreciation is subtracted from its replacement cost. d) An addition or change to an insurance policy that alters coverage. 6) Deductible (1 point) a) The amount the homeowner must pay before insurance pays for a claim. b) The amount of the deductible still unpaid after a partial claim payout. c) The cost to replace an item with a new one of the same kind and quality. d) The value of an item after depreciation is subtracted from its replacement cost. 7) RCV (1 point) a) A policy rule that limits roof payouts based on age or condition. b) An addition or change to an insurance policy that alters coverage. c) The cost to replace an item with a new one of the same kind and quality. d) The value of an item after depreciation is subtracted from its replacement cost.

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