If the Insured Chooses This Basis of Property Insurance Payment

question 8

Multiple Choice

If the insured chooses this basis of property insurance payment in building and personal property coverage form, this optional coverage must be designated in the declarations and the insured must actually repair or replace the covered property.Identify this basis of payment.

• A)Forecasted cash value
• B)Replacement cost new
• C)Extended replacement cost
• D)Actual cash value
• E)Virtual replacement cost

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Definitions:

Current State

The present condition or situation of a subject under consideration.

Future

Refers to the time or a period that will come after the present.

Voice Search

The use of voice recognition technology to perform internet searches by speaking rather than typing.

AR

Augmented Reality, a technology that superimposes computer-generated images on a user’s view of the real world, providing a composite view.