Concern About the Replacement Value Is Considered in Which Principle

question 97

Multiple Choice

Concern about the replacement value is considered in which principle of a sound insurance program?

• A) Identify business risks that can be insured.
• B) Secure insurance coverage for all major potential losses.
• C) Consider the feasibility and affordability of insuring smaller potential losses.
• D) Review and evaluate.

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Definitions:

Aerobic Respiration

The process of producing cellular energy involving oxygen, converting glucose and oxygen into carbon dioxide and water, and releasing energy.

Nutrients

Substances needed by organisms to survive, grow, and reproduce, which are obtained from food.

Inflation Reflex

A reflex that helps regulate the depth of breathing, initiated by stretch receptors in the lungs to prevent overexpansion.

Inspirations

The act of drawing air into the lungs; also known as inhalation.