Concern About the Replacement Value Is Considered in Which Principle

question 97

Multiple Choice

Concern about the replacement value is considered in which principle of a sound insurance program?

• A) Identify business risks that can be insured.
• B) Secure insurance coverage for all major potential losses.
• C) Consider the feasibility and affordability of insuring smaller potential losses.
• D) Review and evaluate.

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Definitions:

Place Cells

Neurons in the hippocampus that become active when an animal is in a particular location, playing a significant role in navigation and spatial memory.

Hippocampus

A structure in the brain's temporal lobe involved in memory formation, spatial navigation, and the processing of emotional responses.

Korsakoff Syndrome

A chronic memory disorder often associated with excessive alcohol consumption, characterized by amnesia, confabulation, and impaired executive function.

Alcohol Dependency

A medical condition characterized by a strong desire to consume alcohol despite harmful consequences, leading to physical and psychological dependence.