If You Wanted to Obtain an Endorsement That Automatically Updates

question 72

Multiple Choice

If you wanted to obtain an endorsement that automatically updates the level of property coverage based on an index of replacement costs that continually updates the cost of building a home,you would ask for a(n)

• A)inflation guard.
• B)automatic adjustment policy.
• C)replacement cost index.
• D)continual adjustment policy.
• E)none of the above.

Distinguish between assets, liabilities, equity, revenues, and expenses.

Comprehend the sequence and preparation of financial statements.

Calculate net income or net loss correctly.

Recognize the significance and placement of withdrawals and expenses in financial reporting.

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Definitions:

Distribution

The way in which something is shared or spread out over an area or among a population.

COV

The coefficient of variation, a measure of relative variability that describes the ratio of the standard deviation to the mean.

Independent Variables

Variables in an experiment that are manipulated or chosen by the researcher to investigate their effects on the dependent variable.

Coefficient Of Correlation

A statistical measure that calculates the strength and direction of a linear relationship between two quantitative variables.