What is Actual Cash Value? OA) It is the cost price of items, wherever purchased converted into Canadian dollars. OB) It is the cost to replace less the percentage of the co-insurance clause. OC) It is current replacement cost less physical depreciation. OD) It is the value shown on a company's financial statement.
What is Actual Cash Value? OA) It is the cost price of items, wherever purchased converted into Canadian dollars. OB) It is the cost to replace less the percentage of the co-insurance clause. OC) It is current replacement cost less physical depreciation. OD) It is the value shown on a company's financial statement.
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Transcribed Image Text:What is Actual Cash Value?
OA) It is the cost price of items, wherever purchased converted into Canadian dollars.
OB) It is the cost to replace less the percentage of the co-insurance clause.
OC) It is current replacement cost less physical depreciation.
OD) It is the value shown on a company's financial statement.
Transcribed Image Text:Which one (1) of the following perils is insured under a property insurance policy?
OA) Loss or damage caused by war or invasion.
OB) Loss or damage caused by a nuclear incident as defined in the Nuclear Liability Act.
OC) Loss or damage caused by the insured's criminal acts.
OD) Loss or damage caused by a falling object.
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