How much will Noreen's Personal Articles Floater pay her for the loss of her camera?

In this scenario, the amount that Noreen's Personal Articles Floater will pay her for the loss of her camera is determined by the specific terms of her insurance policy. A Personal Articles Floater typically provides coverage for specific valuable items, such as jewelry, cameras, and musical instruments, on a scheduled basis. Given that the correct answer indicates a payment of $5,000, it is likely that this sum reflects either the amount Noreen has insured her camera for, or it may represent the maximum limit of coverage as stipulated by her policy.

Considering the nature of Personal Articles Floaters, it is common for these policies to have a cap on how much they will pay for specific items. In many cases, the insured has the option to select the coverage amount based on the value of the items they wish to insure. Therefore, if Noreen chose a coverage limit that was set at $5,000, that would explain why this is the amount she would receive for her lost camera.

This situation emphasizes the importance of understanding the specifics of the insurance coverage, including any limits that may not fully align with the actual market value of the item.