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11 Oct 2023, 04:41
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D
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
95%
(hard)
Question Stats:
44% (02:07) correct
56%
(02:09)
wrong
based on 167
sessions
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Home insurance premiums are typically set after an appraiser assigns an official assessed value. Reassessments should be frequent in order to remove distortions that arise when property value changes at differential rates. In actual fact, however, properties are reassessed only when they stand to benefit the insurance company. In other words, a reassessment takes place when the most likely outcome is in increase in insurance premiums to the homeowner.
Which of the following, if true, describes a situation in which a reassessment should occur but in unlikely to do so?
A. Property values have risen sharply and uniformly.
B. Property values have risen everywhere – some very sharply, some moderately.
C. Property values have on the whole risen sharply; yet some have dropped slightly.
D. Property values have on the whole dropped significantly; yet some have risen slightly.
E. Property values have dropped significantly and uniformly.
Which of the following, if true, describes a situation in which a reassessment should occur but in unlikely to do so?
A. Property values have risen sharply and uniformly.
B. Property values have risen everywhere – some very sharply, some moderately.
C. Property values have on the whole risen sharply; yet some have dropped slightly.
D. Property values have on the whole dropped significantly; yet some have risen slightly.
E. Property values have dropped significantly and uniformly.
12 Oct 2023, 07:17
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Home insurance premiums are typically set after an appraiser assigns an official assessed value. Reassessments should be frequent in order to remove distortions that arise when property value changes at differential rates. In actual fact, however, properties are reassessed only when they stand to benefit the insurance company. In other words, a reassessment takes place when the most likely outcome is in increase in insurance premiums to the homeowner.
Which of the following, if true, describes a situation in which a reassessment should occur but in unlikely to do so?
A. Property values have risen sharply and uniformly.
B. Property values have risen everywhere – some very sharply, some moderately.
C. Property values have on the whole risen sharply; yet some have dropped slightly.
D. Property values have on the whole dropped significantly; yet some have risen slightly.
E. Property values have dropped significantly and uniformly.
E is the correct answer - as a reassessment is unlikely to be made here because the most likely outcome in a situation where the fall in prices of asset has been uniform across markets, leaving no room of doubt when an assessment actually happens. Option D is a redherring as the lack of uniformity creates doubt and the likeliness of a outcome (eitherways) gets pushed in favor of the Insurance bros.
Which of the following, if true, describes a situation in which a reassessment should occur but in unlikely to do so?
A. Property values have risen sharply and uniformly.
B. Property values have risen everywhere – some very sharply, some moderately.
C. Property values have on the whole risen sharply; yet some have dropped slightly.
D. Property values have on the whole dropped significantly; yet some have risen slightly.
E. Property values have dropped significantly and uniformly.
E is the correct answer - as a reassessment is unlikely to be made here because the most likely outcome in a situation where the fall in prices of asset has been uniform across markets, leaving no room of doubt when an assessment actually happens. Option D is a redherring as the lack of uniformity creates doubt and the likeliness of a outcome (eitherways) gets pushed in favor of the Insurance bros.
MuskaanMittal
06 Jul 2025, 19:46
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Not able to understand why D is correct answer
