A Property Owner Always Has an Insurable Interest

question 3

True/False

A property owner always has an insurable interest.

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Definitions:

Actual Cost

The true cost incurred to produce a good or deliver a service, including all direct and indirect expenses.

Cost Variances

Cost variances refer to the difference between the expected (budgeted) costs and the actual costs incurred during a specific period.

Management

The process of planning, organizing, leading, and controlling resources to achieve specific goals.

Exception

A deviation from the norm or a case that does not follow the general rule.