Which of the following is NOT included in the least of the coverage amounts that can be stated in a policy?

The correct response is that the termed "insured value" is not typically included in the list of coverage amounts that can be explicitly stated in an insurance policy.

Coverage amounts are generally expressed in terms that indicate the basis on which a loss is settled. “Stated amount” refers to a predetermined figure agreed upon between the insurer and the insured, which can be utilized as a reference for claims. “ACV,” which stands for Actual Cash Value, represents the replacement cost of an item minus depreciation. This is a common method used to determine the payout amount for losses. “Cost of repair” directly indicates the expenses that would be required to restore the property to its pre-loss condition.

In contrast, "insured value" is a more vague term that may describe the value perceived or declared by the insured but does not have the standardized and specific treatment of the other terms in the context of policy coverage amounts. Insurance policies typically do not use "insured value" as a distinct figure that is set forth for coverage but rather utilize more standardized terms that offer clarity in valuation during claims processes.