Some Courts Have Ruled That an Alternative to "Replacement Cost

question 47

Multiple Choice

Some courts have ruled that an alternative to "replacement cost less depreciation" should be used to determine the actual cash value of a property loss.Under this alternative,the value of property lost is determined by the price a willing buyer would pay a willing seller for the property in a free market.This method of determining actual cash value is called the

• A)intrinsic value method.
• B)valued policy method.
• C)fair market value method.
• D)reconstruction cost method.

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Definitions:

Higher-Order Conditioning

A process in classical conditioning by which a stimulus that was previously neutral is paired with a conditioned stimulus to produce the same conditioned response as the conditioned stimulus.

Secondary Reinforcer

A stimulus that gains its reinforcing power through its association with a primary reinforcer.

Money

A medium of exchange in the form of coins and banknotes; used to purchase goods and services.

Light Stroking

A gentle, soothing touch that can trigger positive emotional and physiological responses, often used in therapeutic contexts.