If You Wanted to Obtain an Endorsement That Automatically Updates

question 72

Multiple Choice

If you wanted to obtain an endorsement that automatically updates the level of property coverage based on an index of replacement costs that continually updates the cost of building a home,you would ask for a(n)

• A)inflation guard.
• B)automatic adjustment policy.
• C)replacement cost index.
• D)continual adjustment policy.
• E)none of the above.

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Definitions:

R&D Work

Refers to the activities involved in the research and development process, aimed at innovating and improving products or services.

Basic Scientific Principles

Fundamental concepts and laws that serve as the foundation for scientific inquiry, describing natural phenomena and the behavior of the physical world.

University Laboratories

Specialized facilities within universities where research and experiments are conducted across various disciplines.

Commercial Applicability

The potential for a product, service, or innovation to be successfully marketed and sold in a commercial environment.