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      Question

      The 'Insured Declared Value' (IDV) of a vehicle refers

      to its:
      A Purchase price Correct Answer Incorrect Answer
      B Market value Correct Answer Incorrect Answer
      C Insured value declared by the policyholder Correct Answer Incorrect Answer
      D Replacement cost Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      The IDV is the value of the vehicle declared by the insured in the policy document for the purpose of insurance coverage.

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