Some States Have a Law That Requires Payment of the Face

question 40

Multiple Choice

Some states have a law that requires payment of the face amount of insurance to the insured if a total loss to real property occurs from a peril specified in the law.These laws are called

• A)agreed amount laws.
• B)replacement cost laws.
• C)homestead laws.
• D)valued policy laws.

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Definitions:

Anglican Religion

The Christian tradition and community that developed from the practices and identity of the Church of England following the Protestant Reformation.

Plymouth Colony

An early British colony in North America founded in 1620 by the Mayflower Pilgrims, where they sought religious freedom.

English Base

Pertains to the foundation or main influence originating from England, including linguistic, cultural, or administrative aspects.