The Basic Difference Between Older Home Form HO-8 and Other

question 4

Multiple Choice

The basic difference between Older Home Form HO-8 and other homeowners' policies is that

• A)the home is insured at actual cash value instead of replacement cost.
• B)the home is insured at replacement cost instead of market value.
• C)the contents of the home are insured at market value instead of replacement cost.
• D)the contents of the home are insured at replacement cost instead of at market value.

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Definitions:

1929

The year marked by the Wall Street Crash, leading to the Great Depression, a significant worldwide economic downturn.

Recession

A period marked by a significant decline in economic activity across the economy, lasting for several months or more, visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

World War II

A global conflict that took place from 1939 to 1945, involving most of the world's nations and marked by significant events that shaped modern history.

Decade

A span lasting a decade.