Rmi 3011 - Study guides, Class notes & Summaries

RMI 3011 Exam 2 Keith Jones Accurate 100% RMI 3011 Exam 2 Keith Jones Accurate 100% RMI 3011 Exam 2 Keith Jones Accurate 100% RMI 3011 Exam 2 Keith Jones Accurate 100%

RMI 3011 Exam 1 Studyguide ...

What is the Principle of Indemnity? - ANSWER - States that the insurer agrees to pay no more than the actual amount of the loss; stated differently, the insured should not profit from a loss. - Insurance is a contract of indemnity. What are the methods used by courts to determine actual cash value? - ANSWER - Replacement Cost Less Depreciation - Fair Market Value - Broad Evidence Rule What are the exceptions to Actual Cash Value? - ANSWER Replacement cost insurance, life insuranc...

What is the Principle of Indemnity? - ANSWER - States that the insurer agrees to pay no more than the actual amount of the loss; stated differently, the insured should not profit from a loss. - Insurance is a contract of indemnity. What are the methods used by courts to determine actual cash value? - ANSWER - Replacement Cost Less Depreciation - Fair Market Value - Broad Evidence Rule What are the exceptions to Actual Cash Value? - ANSWER Replacement cost insurance, life insuranc...

1. The "Human Life Value" of S. S. Huebner defines the insurable value of an individual as (a) 10 times his annual after tax income. (b) total future wages that he is expected to earn. (c) the amount his family would need if he should die. (d) the discounted value of future earnings, minus that portion of such income that the individual would consume personally. 2. The risk of income loss resulting from premature death (a) is universal, since death is inevitable. (b) has approximately...

Multiple Choice Questions Chapter 10 1. The "Human Life Value" of S. S. Huebner defines the insurable value of an individual as (a) 10 times his annual after tax income. (b) total future wages that he is expected to earn. (c) the amount his family would need if he should die. (d) the discounted value of future earnings, minus that portion of such income that the individual would consume personally. 2. The risk of income loss resulting from premature death (a) is universal, since death...

RMI3011 EXAM 2 STUDYGUIDE LATEST UPDATE...

RMI3011 FSU EXAM 2 LATEST UPDATE...