Which of the Following Statements Describes How Losses Will Be

question 27

Multiple Choice

Which of the following statements describes how losses will be settled if a property insurance policy is written on a replacement cost basis?

• A)Losses are settled without the applicable deductible.
• B)Losses are settled without a deduction for depreciation.
• C)The insurer must replace the damaged or destroyed property in lieu of a cash settlement.
• D)The policy is converted to a valued policy.

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Definitions:

Infatuation Love

An intense but short-lived passion or admiration for someone, often mistaken for deep love.

Infatuation

An intense but short-lived passion or admiration for someone or something.

Passionate Relationship

A romantic relationship characterized by intense emotions and sexual attraction.

Companionate

Relating to or denoting a type of love characterized by deep affection and commitment.