If the Value of a Vehicle Is Increased After Repairs,such

question 22

Multiple Choice

If the value of a vehicle is increased after repairs,such as repainting an entire auto when only one fender or door is damaged,the insurer will not pay for the increase in value.Another name for the increase in value is

• A)diminution.
• B)betterment.
• C)appraisal.
• D)subrogation.

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Definitions:

Historical

Pertaining to events, situations, or conditions from the past that are studied and considered significant.

Relative

A term describing something in comparison or relation to something else, considering its context or situation.

Engineering

The application of scientific, mathematical, and empirical principles and knowledge to innovate, design, develop, maintain, and improve structures, machines, devices, systems, materials, and processes.

Earnings Per Share

A company's profit divided by its number of common outstanding shares, indicating the portion of a company's profit allocated to each share of stock.