Property of Mary Is Damaged in a Fire

question 31

Multiple Choice

Property of Mary is damaged in a fire.She claims the property damage amounted to $10,000,and the insurer claims it only amounted to $5,000.Which of the following is true in this situation?

• A) Mary should demand an appraisal under her policy's appraisal clause.
• B) Mary has no alternative because she must accept the insurer's valuation.
• C) The insurer is required to accept the insured's valuation unless the insurer can establish that the insured failed to act in good faith.
• D) Mary should call the state inspector who investigates and makes rulings in such cases.
• E) Mary should file for a field evaluation.

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Definitions:

Reasoning Abilities

Reasoning abilities refer to the cognitive skills that enable an individual to process information, draw conclusions, and make logical decisions.

Motor Abilities

Skills related to the movement and coordination of muscles and limbs.

Longitudinal Study

Research that follows the same subjects over a period of time, often years or even decades, to observe changes and developments.

Terman Life Cycle Study

A longitudinal psychological study that began in 1921 by psychologist Lewis Terman, aimed at studying the development and characteristics of gifted children into adulthood.