GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A survey to determine a property’s insurable value, or the amount of a loss is termed as ____
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Pure Risk
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Appraisal
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Affinity sales
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Annuitization
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Explanation:
Detailed explanation-1: -An appraisal is an assessment of the fair market value of a property, business, antique, or even a collectible. Appraisals are used to estimate the value of items that are infrequently traded, and are often rare or unique.
Detailed explanation-2: -Synopsis. The process of estimating the value of property is known as valuation.
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