Since a descriptive model checks the performance of the system for only a subset of all possible alternatives, there is no guarantee that a selected alternative will be optimal

All of the following are extensions of coverage under the building and personal property coverage form EXCEPT

A) newly acquired or constructed property. B) valuable papers and records. C) personal property temporarily off the premises. D) currency and securities.

Which of the following statements about the provisions of the building and personal property coverage form is (are) true?

I. A separate deductible must be satisfied for each building damaged in the same occurrence. II. Under the replacement cost option, there is no deduction for depreciation. A) I only B) II only C) both I and II D) neither I nor II