d Question 8 (1 point) A house with a replacement value of $110,000 is currently

Question

d Question 8 (1 point) A house with a replacement value of $110,000 is currently insured for $90,000. The house has suffered a $15,000 loss from windstorm damage. The insurance company will pay the full $15,000 less the deductible True False Save Question 9 (1 point) Risk is uncertainty regarding economic loss. True False Save Question 10 (1 point) Spreading risk among a large number of people is a major principle of insurance. True False Save Question 11 (1 point) Protection for personal property both at home and away from home is a provision of the homeowners' policy True False Save

Explanation / Answer

1. False, only proportionate amount is reimbursed.

2. True, risk is an uncertainity regarding economic loss

3. True, spreading risk among large no of people is a major principle of insurance

4. True

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