Smith Owned a Concrete Block Building Valued at $200,000

question 32

True/False

Smith owned a concrete block building valued at $200,000.Because it was virtually fireproof,he insured it for only $100,000 under a policy of insurance,which contained an 80 percent co-insurance clause.Some time later,the building was damaged by fire.
-Assuming that the fire completely destroyed the building,Smith would be entitled to claim for only $100,000 under his insurance policy.

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Definitions:

Foot-In-The-Door Technique

A persuasion strategy whereby agreement with a small request increases the likelihood of compliance with a larger request later.

Bait-And-Switch

A deceptive marketing technique that advertises a product or service at a particular price or quality that is not genuinely intended to be sold, instead directing customers to a different, often more expensive option.

Door-In-The-Face

A compliance strategy where a large, unreasonable request is made first with the expectation it will be refused, followed by a smaller, more reasonable request.

Skating Competitions

Organized events where individuals or teams perform figure skating routines to be judged on various elements.