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What does return value mean?



 
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What does return value mean? #1 (permalink) Mon Mar 08, 2010 12:33 pm   What does return value mean?
 

Business English Lesson, Advanced Level

ESL/EFL Test #129 "Insurance Policy Vocabulary", question 6

If I decide that I no longer need my insurance, I can cash it in for the amount of its ......... value.

(a) rebate
(b) surrender
(c) discount
(d) return

Business English Lesson, Advanced Level

ESL/EFL Test #129 "Insurance Policy Vocabulary", answer 6

If I decide that I no longer need my insurance, I can cash it in for the amount of its return value.

Correct answer: (d) return
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What is "return value"?
thanks.
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What does return value mean? #2 (permalink) Mon Mar 08, 2010 12:57 pm   What does return value mean?
 

I believe that the correct answer to this question is "Surrender value."

If you surrender a policy you will not always get back the amount that you have paid.
You have already benefited whilst holding the surety of the policy, and therefore its value will have been partially eroded.

Kitos.
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What does return value mean? #3 (permalink) Mon Mar 08, 2010 12:59 pm   What does return value mean?
 

The answer given is wrong, Zhangbaixiang. It should be 'surrender value'. We will fix the problem, thank you.
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What does return value mean? #4 (permalink) Mon Mar 08, 2010 16:50 pm   What does return value mean?
 

..

From the beginning I had a doubt about this...finally two great masters have cracked it..

Thanks dear Kitosdad and Mister Micaweber....!!

..
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What does return value mean? #5 (permalink) Wed Aug 11, 2010 10:57 am   What does return value mean?
 

Insurance Policy Question :
If I decide I no longer need insurance,I can cash it for the amount of its
Surrender value. not Return Value.
Surrender value means the amount which you paid to the insurence company
will be paid by returing your policy. I lost one mark because of this. please
correct the answer.

Thank you

S.Shanthi
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What does return value mean? #6 (permalink) Wed Aug 11, 2010 13:28 pm   What does return value mean?
 

Hello everyone, thanks for pointing this out. I've made the correction and it'll show up after our next database update.

Regards,
Torsten

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