Exam (elaborations)
BUSFIN 3300: Insurance Midterm 2 Questions with Correct Answers
- Course
- Institution
Principle of Indemnity Correct Answer-the insurer agrees to pay no more than the amount of the loss; the insured should not profit from the loss Actual Cash Value Correct Answer-replacement cost less depreciation Fair Market Value Correct Answer-the price a willing buyer would pay a willing s...
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