CPR Insurance Scope & Xactimate 2 — Questions and Answers
Question 1: In Xactimate, what unit of measure is most commonly used for interior wall painting?
- SY (square yard)
- LF (linear foot)
- SF (square foot) (Correct answer)
- EA (each)
Correct answer: SF (square foot)
Interior painting is priced per square foot of wall surface area in Xactimate price lists.
Question 2: What does 'O&P' stand for on an Xactimate estimate?
- Operations and Procedures
- Overhead and Profit (Correct answer)
- Original and Projected
- Output and Payment
Correct answer: Overhead and Profit
O&P (Overhead and Profit) compensates general contractors for managing the project and is applied on top of direct costs.
Question 3: Which Xactimate module is used to create room diagrams and automatically calculate square footage?
- Profile
- Estimate
- Sketch (Correct answer)
- Report
Correct answer: Sketch
The Sketch module allows users to draw floor plans and automatically calculates areas, perimeters, and volumes for each room.
Question 4: In Xactimate, a 'macro' is best described as:
- A large-scale commercial estimate type
- A saved group of line items applied repeatedly to save time (Correct answer)
- The software's automatic price-update feature
- A type of insurance coverage code
Correct answer: A saved group of line items applied repeatedly to save time
Macros are pre-saved bundles of line items in Xactimate that can be inserted into estimates for repetitive task combinations.
Question 5: What is the typical combined Overhead and Profit percentage applied in residential insurance estimates?
- 10% total
- 15% total
- 21% total (10% + 10% compounded) (Correct answer)
- 25% total
Correct answer: 21% total (10% + 10% compounded)
The industry standard is 10% overhead applied first, then 10% profit on that result, which compounds to approximately 21% total.
Question 6: How often are Xactimate regional price lists typically updated?
- Annually
- Quarterly
- Monthly (Correct answer)
- Weekly
Correct answer: Monthly
Xactimate price lists are updated monthly to reflect current regional labor and material market conditions.
Question 7: When writing a flooring replacement scope in Xactimate, what additional line item is typically required beyond material cost?
- Delivery surcharge
- Floor preparation or subfloor repair (Correct answer)
- Design consultation fee
- Permit application fee
Correct answer: Floor preparation or subfloor repair
Floor preparation is commonly added as a separate line item to account for subfloor work needed before new flooring can be installed.
CPR Insurance Scope & Xactimate 2
In Xactimate, what unit of measure is most commonly used for interior wall painting?