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What is the Actual Cash Value of an item? OA) It is the cost to replace it with similar, new item. OB) It is the amount it would sell for on the date of loss. OC) It is the cost to replace it with a similar item in similar condition. OD) It is the cost when first bought by the insured.

What is the Actual Cash Value of an item? OA) It is the cost to replace it with similar, new item. OB) It is the amount it would sell for on the date of loss. OC) It is the cost to replace it with a similar item in similar condition. OD) It is the cost when first bought by the insured.

Economics Today and Tomorrow, Student Edition
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter5: Buying The Necessities
Section5.4: Buying And Operating A Vehicle
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What is the Actual Cash Value of an item? OA) It is the cost to replace it with similar, new item. OB) It is the amount it would sell for on the date of loss. OC) It is the cost to replace it with a similar item in similar condition. OD) It is the cost when first bought by the insured.
Transcribed Image Text:What is the Actual Cash Value of an item? OA) It is the cost to replace it with similar, new item. OB) It is the amount it would sell for on the date of loss. OC) It is the cost to replace it with a similar item in similar condition. OD) It is the cost when first bought by the insured.
When is a Vacancy Permit required in order to continue fire insurance on a property? OA) When the occupant has left on a six-month vacation and no one has moved in to take care of the property. B) When the occupants have moved out and do not intend to return. C) When the insured has moved out with one half of the contents and left his wife with only half of the house furnished. OD) When the occupant has been transferred to another location and resides in the premises only on weekends.
Transcribed Image Text:When is a Vacancy Permit required in order to continue fire insurance on a property? OA) When the occupant has left on a six-month vacation and no one has moved in to take care of the property. B) When the occupants have moved out and do not intend to return. C) When the insured has moved out with one half of the contents and left his wife with only half of the house furnished. OD) When the occupant has been transferred to another location and resides in the premises only on weekends.
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