Why would you recommend a "Valued" policy on valuable property to an insured? OA) It establishes, at the time the policy is issued, the amount of insurance the property is totally damaged, lost or destroyed. OB) It provides for replacement cost of the property irrespective of the amounts of the OC) It is a special kind of policy, rarely issued and is therefore, highly "valued". OD) It will pay for the full value of the damage, however caused. insurer will pay in the event the insurance.
Why would you recommend a "Valued" policy on valuable property to an insured? OA) It establishes, at the time the policy is issued, the amount of insurance the property is totally damaged, lost or destroyed. OB) It provides for replacement cost of the property irrespective of the amounts of the OC) It is a special kind of policy, rarely issued and is therefore, highly "valued". OD) It will pay for the full value of the damage, however caused. insurer will pay in the event the insurance.
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Transcribed Image Text:Why would you recommend a "Valued" policy on valuable property to an insured?
OA) It establishes, at the time the policy is issued, the amount of insurance the insurer will pay in the event the
property is totally damaged, lost or destroyed.
OB) It provides for replacement cost of the property irrespective of the amounts of the insurance.
OC) It is a special kind of policy, rarely issued and is therefore, highly
"valued".
OD) It will pay for the full value of the damage, however caused.
Transcribed Image Text:Risk may be dealt with in a number of ways including transferring it to others or retaining it intentionally. Which one (1) of the
following alternatives is a transfer of risk?
QA) A monitored security system.
OB) Self-insurance.
OC) An agreement of purchasemi sale.
Purchase of insurance,
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