Which term refers to the estimated worth of an item used to determine indemnification?

• A. Cost Basis
• B. Value
• C. Worth
• D. Assessment

Answer: (B)

The term that refers to the estimated worth of an item used to determine indemnification is indeed "Value." In the context of insurance and indemnification, value represents the monetary worth of a property or asset, which helps insurers ascertain the amount they would reimburse in the event of a loss. This estimation is crucial for accurately assessing claims and ensuring that the insured party is appropriately compensated for their loss.

While terms like "Cost Basis," "Worth," and "Assessment" might seem relevant, they do not specifically capture the concept of the estimated worth in the context of indemnification in the same way as "Value." Cost Basis generally refers to the original value of an asset for tax purposes, "Worth" is a more general term and is less precise, and "Assessment" often denotes the process of evaluating property value for taxation rather than for the purpose of insurance indemnification. Thus, "Value" is the most accurate term in this context.