The Insured Can Purchase This Option Found in Section G

question 25

Multiple Choice

The insured can purchase this option found in section G, optional coverages to ward off unwanted retention of loss values above the limit of insurance.This option provides for automatic periodic increases in insurance limits and ensures that the policyholder will have sufficient limits of insurance to cover a total loss.Identify this option.

• A)Agreed value option
• B)Deductible option
• C)Inflation guard option
• D)Waiver
• E)Estoppel

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Definitions:

Faster Delivery

The reduction of time it takes to transport goods or services to customers.

Dependable Delivery

The reliability of a supply chain in delivering products or services to customers within the promised time frame.

Johnson's Rule

Johnson's rule is a scheduling method used to minimize job sequencing time and optimize the use of machines or work centers on two successive stages of a production process.

Two Different Machines

Refers to the comparison or utilization of two distinct types of machinery or equipment, often considered in the context of production efficiency, capability, or suitability for specific tasks.