If the Optional Replacement Cost Coverage Provision Is Not Selected,how

question 43

Multiple Choice

If the optional replacement cost coverage provision is not selected,how are losses settled under the building and personal property (BPP) coverage form?

• A)market value
• B)original purchase price
• C)actual cash value
• D)book value

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Definitions:

Maintenance

The process of preserving or restoring equipment, machines, or systems to ensure they continue to function correctly and efficiently.

Reliability

The quality or state of being dependable or capable of performing consistently under specified conditions.

TPM

Total Productive Maintenance; a proactive maintenance approach focusing on improving equipment effectiveness and employee involvement.

TQM

Total Quality Management; a comprehensive and structured approach to organizational management that seeks to improve the quality of products and services through ongoing refinements in response to continuous feedback.