Certified Floodplain Manager (CFM) Practice Exam

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What does ACV stand for?

  1. Actual Cash Value

  2. Annual Community Verification

  3. Amended Cost Verification

  4. Actual Cost Value

The correct answer is: Actual Cash Value

ACV stands for Actual Cash Value, which refers to the market value of an asset or property at a particular point in time. This is different from the other options because B does not make sense in the context of the question and C and D use similar terms but do not specifically refer to cash.

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