Exam (elaborations)
RMIN 4000 Test 3 Brown| Questions and Answers 100% Correct!!
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- Institution
Principal of Indemnity - ANSWER-insurer pays no more than actual amount of the loss; insurer should not profit from the loss Replacement cost - ANSWER-the cost to replace an inventory item in its identical form (similar workmanship and quality) Actual Cash Value - ANSWER-replacement cost - de...
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