What is Actual Cash Value (ACV)? | PROPERTY-CASUALTY, LIFE-HEALTH Exam Prep

Actual Cash Value is a property valuation method that equals replacement cost minus depreciation, representing what property is worth today after accounting for wear and tear. 📚 Learn more about Actual Cash Value (ACV) and other key terms for your PROPERTY-CASUALTY, LIFE-HEALTH exam at Open Exam Prep. 🎯 This term appears on: PROPERTY-CASUALTY, LIFE-HEALTH 🔗 Full glossary: https://www.open-exam-prep.com/glossary 🔗 Actual Cash Value (ACV) definition: https://www.open-exam-prep.com/glossary/actual-cash-value 💡 Exam Tip: ACV = Replacement Cost MINUS Depreciation. Pays LESS than replacement cost. Common on HO-2 policies. --- #insurance #examprep #financeexam #property-casualty #life-health