The Building and Personal Property Coverage Form Provides Several Optional

question 27

Multiple Choice

The building and personal property coverage form provides several optional coverages.Under one optional coverage,no deduction is taken for depreciation when settling a covered loss.This optional coverage is called

• A)extra expense.
• B)agreed value.
• C)replacement cost.
• D)inflation guard.

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Definitions:

Stackelberg Model

A strategic game in economics where one firm, the leader, sets its output level first, and then the follower firms set their output levels, taking the leader's output as given.

Oligopoly Model

An economic model that describes a market structure in which a few firms dominate the industry and have the ability to influence prices and market outcomes.

Competitive Market

A market structure in which many firms offer products or services that are similar, leading to high levels of competition.

Remarkable Healing

Significant or extraordinary recovery from illness or injury.