Practice Test GeeksCVA - Certified Vehicle Appraiser Practice Test
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Total Loss Evaluation & Insurance Claims Flashcards

6 cards from real CVA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 6 Total Loss Evaluation & Insurance Claims flashcards as text

  1. What is a 'rebuilt title' and how does it affect a vehicle's appraisal value?

    Answer: A title issued after a salvage vehicle is repaired and passes state inspection; typically reduces market value 20–40%

    A rebuilt title is issued to a previously salvaged vehicle that has been repaired and re-inspected, but it carries a permanent stigma reducing market value 20–40%.

  2. Which database do CVA appraisers most commonly use to check total loss and title brand history?

    Answer: CARFAX or AutoCheck (Experian)

    CARFAX and AutoCheck compile title brand history, odometer records, and reported accident data from state DMVs and insurance companies.

  3. An appraiser is asked to value a vehicle for a diminished value claim. What does 'inherent diminished value' mean?

    Answer: The permanent reduction in market value a repaired vehicle suffers solely because of its accident history

    Inherent diminished value is the residual loss of market value a vehicle retains even after perfect repair, due solely to its disclosed accident history.

  4. In a first-party total loss claim, which party does the CVA appraiser typically represent?

    Answer: The policyholder's own insurance company

    In first-party claims, the CVA works for the policyholder's insurer to determine the ACV and resolve the claim under the insured's own policy.

  5. What is the primary reason CVA appraisers must document comparable sales when establishing ACV for a total loss?

    Answer: To provide market-based evidence supporting the valuation against potential disputes

    Comparable sales documentation provides objective, market-based evidence for the ACV determination, which is essential if the settlement is disputed.

  6. Which factor is LEAST relevant when a CVA establishes ACV for a total loss vehicle?

    Answer: The vehicle's original purchase price

    Original purchase price is irrelevant to ACV because market value is based on current condition, mileage, and comparable sales, not historical cost.