State Farm Property Test | Q$A 100% VERIFIED.
State Farm Property Test | Q$A 100% VERIFIED. In property insurance actual cash value is defined as which of the following - Correct Answer -Replacement cost at the time of the loss, less depreciation Peril is most easily defined as - Correct Answer -the cause of loss insured against What is a leading factor in the determination of actual cash value - Correct Answer -replacement cost Replacement cost is defined as - Correct Answer -full replacement of property at its current cost, new and without reduction for depreciation Property insurance that provides 100k coverage for a building and 50k coverage for personal property at a single location is called - Correct Answer -Specific coverage Which of the following is used in the formula for calculating the actual cash value of a property - Correct Answer -replacement cost What is the purpose of the coinsurance clause found in property insurance policies? - Correct Answer -Encourage the insured to insure the property closer to its full value
Información del documento
- Subido en
- 20 de julio de 2023
- Número de páginas
- 4
- Escrito en
- 2022/2023
- Tipo
- Examen
- Contiene
- Preguntas y respuestas
