A drill bit comprises a shank having a longitudinal axis. A cutting head is formed at one end of the shank. A removable and replaceable pilot tip such as a screw tip or pilot point is formed on the cutting head. The pilot tip is designed for controlled failure. A tool is also provided for removing the broken tip. A kit comprising a dill bit adapted to receive a removable tip, a removable tip for attachment to the cutting head, and/or a removal tool for removing a broken tip from the drill bit. A method for removing a tip from a drill bit and replacing it with another tip is also provided.

 
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