The Disadvantage of Actual Cash Value Coverage of Personal Property

question 154

Multiple Choice

The disadvantage of actual cash value coverage of personal property compared to replacement cost coverage is that it

• A)will reimburse you for replacement cost minus estimated depreciation.
• B)will reimburse you for the cash value of a new item.
• C)must be reported as a loss on your tax return.
• D)does not have to be reported as a loss on your tax return.
• E)none of the above.

---

Definitions:

Stay-at-Home Dads

Fathers who choose to stay at home to care for their children and manage household duties instead of working outside the home.

Job Security

The assurance that an individual will retain their job without the risk of becoming unemployed, providing stability and confidence.

Economic Strong

Refers to situations or entities that possess robust financial health, stability, or growth.

Two-Person Single Career

A situation where one partner's career is prioritized, and the other partner contributes support to ensure the success of that career, often sacrificing their own career advancement.