From a Safety Perspective,which Alternative Below Offers the Best Advice

question 49

Multiple Choice

From a safety perspective,which alternative below offers the best advice?

• A)Make sure an account is federally insured.
• B)Make sure an account is state insured.
• C)Avoid any institution that is not a commercial bank.
• D)Avoid using out-of-state institutions.

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Definitions:

Valued Policy

An insurance policy that pays a predetermined amount to the insured in the event of a total loss, regardless of the value of the lost property.

Fair Market Value

The price that property would sell for on the open market between a willing buyer and a willing seller.

Insure The House

Entering into a policy agreement with an insurance company to provide protection against damages or losses to one's home, typically against risks like fire, theft, or natural disasters.

Insurable Interest

A stake in the preservation of a subject against loss or damage, legally necessary for an individual to purchase insurance on a life or property.