Choose the Word or Phrase in [ ] Which Will

question 128

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Your house has a replacement value of $120,000.Your HO policy has an 80% co-insurance clause.In order to receive full compensation if your house is totally destroyed,you must carry insurance for [$96,000 | $120,000].

---

Definitions:

Refuse Payment

The act of deliberately not paying for a service or product received.

Consumer Note

A debt instrument where the borrower promises to pay back a certain amount of money to the lender at a future date, typically used for personal, family, or household purchases.

Bills Of Exchange Act

Legislation that regulates the transfer, creation, and definition of bills of exchange, a type of financial instrument.

Endorse

To give support, approval, or recommendation publicly, or to sign the back of a financial instrument, transferring rights or ownership.