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Author Question: Some courts have ruled that an alternative to replacement cost less depreciation should be used to ... (Read 165 times)

madam-professor

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on: Jul 11, 2018
Some courts have ruled that an alternative to replacement cost less depreciation should be used to determine the actual cash value of a property loss.
 
  Under this alternative, the value of property lost is determined by the price a willing buyer would pay a willing seller for the property in a free market. This method of determining actual cash value is called the
  A) intrinsic value method.
  B) valued policy method.
  C) fair market value method.
  D) forensic cost method.

Question 2

Some states have a law that requires payment of the face amount of insurance to the insured if a total loss to real property occurs from a peril specified in the law. These laws are called
 
  A) agreed amount laws.
  B) replacement cost laws.
  C) homestead laws.
  D) valued policy laws.


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Pamela.irrgang@yahoo.com

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Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: C

Answer to Question 2

Answer: D


madam-professor

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Reply 2 on: Jul 11, 2018
:D TYSM

Dominic

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Reply 3 on: Yesterday
Excellent

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