Under the ____________ Method for Settling Claims You Receive the Full

question 34

Multiple Choice

Under the ____________ method for settling claims you receive the full cost of repairing or replacing a damaged or lost item and depreciation is not considered.

• A)replacement value
• B)actual cash value
• C)umbrella
• D)endorsement
• E)personal articles endorsement

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Definitions:

External Benchmarking

The process of comparing a company's performance or processes against those of other companies, typically industry leaders, outside the organization.

Industry Benchmarking

A process of comparing business processes and performance metrics to industry bests or best practices from other industries to improve performance.

Process Benchmarking

The method of evaluating business operations and performance indicators against the highest industry standards or the most effective practices of other organizations.

Internal Benchmarking

The process of comparing business processes and performance metrics to industry bests and best practices from within the same organization.