The cost of the loss in dollars is called:

A provision in a policy that expressly cites a risk that is NOT covered is known as

A) an exclusion B) an eliminated loss C) an omission D) a reduction"

When Cathy went shopping, she paid a lot to buy a jacket that had a well-known designer's tag attached to it

After a few days, she came across a jacket which was undistinguishable from the one she had bought but was priced 5 times lesser than the earlier one. She didn't give this a second thought because she was convinced that the designer label she had bought was worth it. What can be deduced from this?