Vincent Is Applying for Insurance for His New Home

question 19

Multiple Choice

Vincent is applying for insurance for his new home. Which of the following is correct?

• A) He should base the amount of insurance on the price he paid for it.
• B) He should insure the building for 75% of its replacement cost.
• C) He should use the actual cash value method for settling claims to receive the full cost of repairing or replacing his personal belongings.
• D) His personal belongings should be covered with his home at 55-75% of his home's insured amount.
• E) His insured amount should remain the same as long as he lives in his house.

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Definitions:

Competent Progress

This term might refer to the effective and efficient advancement or improvement in a particular skill or area of knowledge. If not a recognized key-term, then NO.

Workplace Relationships

The social interactions and bonds formed between colleagues in a professional setting, which can impact job satisfaction and productivity.

Psychological Stressors

Events, situations, or stimuli that cause stress and can affect an individual's psychological well-being.

Immune System

The body’s defense mechanism against infectious organisms and other invaders, comprising various cells, tissues, and organs that work together to protect the body.