Rmi exam 22024 - Study guides, Class notes & Summaries
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RMI EXAM 2(2024 Latest Update)Accurate 100%
- Exam (elaborations) • 14 pages • 2024
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RMI EXAM 2(2024 Latest Update)Accurate 100% 
 
chapter 5 - ANSWER chapter 5 
 
principle of indemnity - ANSWER The insurer agrees to pay no more than the actual amount of the loss 
 
purpose of principle of indemnity - ANSWER -to prevent the insured from profiting from a loss 
-to reduce moral hazard 
 
in property insurance, indemnification is based on the _____ - ANSWER actual cash value 
 
methods of determining actual cash value - ANSWER -replacement cost less depreciation 
-fair market valu...
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RMI EXAM 2(2024 Latest Update)Correct 100%
- Exam (elaborations) • 14 pages • 2024
-
Available in package deal
-
- $12.99
- + learn more
chapter 5 - ANSWER chapter 5 
 
principle of indemnity - ANSWER The insurer agrees to pay no more than the actual amount of the loss 
 
purpose of principle of indemnity - ANSWER -to prevent the insured from profiting from a loss 
-to reduce moral hazard 
 
in property insurance, indemnification is based on the _____ - ANSWER actual cash value 
 
methods of determining actual cash value - ANSWER -replacement cost less depreciation 
-fair market value 
-broad evidence rule 
 
actual cash value - ...
-
RMI EXAM 2(2024 Latest Update)Correct 100%
- Exam (elaborations) • 14 pages • 2024
-
Available in package deal
-
- $13.99
- + learn more
chapter 5 - ANSWER chapter 5 
 
principle of indemnity - ANSWER The insurer agrees to pay no more than the actual amount of the loss 
 
purpose of principle of indemnity - ANSWER -to prevent the insured from profiting from a loss 
-to reduce moral hazard 
 
in property insurance, indemnification is based on the _____ - ANSWER actual cash value 
 
methods of determining actual cash value - ANSWER -replacement cost less depreciation 
-fair market value 
-broad evidence rule 
 
actual cash value - ...
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