CPRM Practice Questions - CPRM Certified Personal Risk Manager Exam

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Under a Chubb Masterpiece policy, if a covered total loss occurs to a $4M home and the client decides not to rebuild, what option does the client typically have?

Receive only the actual cash value Take a cash settlement up to the policy limit without obligation to rebuild Receive nothing because the home was not rebuilt Receive only the land value

Correct Answer:

Take a cash settlement up to the policy limit without obligation to rebuild

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