Which of the following statements describes how losses will be settled if a property insurance policy is written on a replacement cost basis?
A) Losses are settled without the applicable deductible.
B) Losses are settled without a deduction for depreciation.
C) The insurer must replace the damaged or destroyed property in lieu of a cash settlement.
D) The policy is converted to a valued policy.
Answer: B
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King Electronics, a retailer of video equipment, sold two DVRs to Larson, a psychologist, for use in her professional practice, which was located in her home. The sale to Larson was made on credit. King retained a security interest in the DVRs sold but
did not file a financing statement. Mills, another creditor of Larson, has asserted that his lien on the two DVRs is superior to King's security interest. Is he right? As you decide, remember to classify the DVRs as collateral in the hands of King and Larson.
The major disadvantage of laboratory tests is the lack of control of independent variables.
Answer the following statement true (T) or false (F)
Since OSHA cannot inspect all workplaces it tends to focus on those:
a. where conditions have little potential to be dangerous b. where there are no complaints from employees c. where accidents have occurred d. all of the other specific choices are correct e. none of the other specific choices are correct
Technically, what is a commuter airline?