What Is the Difference Between Replacement Value and Actual Value

question 63

Multiple Choice

What is the difference between replacement value and actual value for personal property insurance?

• A) Actual value is the cost to replace an item
• B) Replacement value is the amount you could get for selling the item at a garage sale
• C) Replacement value is typically greater than actual value
• D) Actual value is typically greater than replacement value

---

Definitions:

Evolutionary Psychology

A theoretical approach in psychology that seeks to explain mental and psychological traits—such as memory, perception, or language—as adaptations, i.e., as the functional products of natural selection.

Evolutionary Psychology

A theoretical approach in psychology that examines mental and psychological traits—such as memory, perception, or language—as adaptations, i.e., as the functional products of natural selection.

Freud's Theory

Refers to Sigmund Freud's psychoanalytic theory, which emphasizes unconscious processes and childhood experiences in shaping personality and behavior.

Evolutionary Psychology

A theoretical approach in psychology that explores how evolutionary principles explain psychological traits and behaviors.