Final answer:
In a replacement situation, all factors must be considered except for exclusions.
Step-by-step explanation:
In a replacement situation, all of the following must be considered except for exclusions. The term 'replacement situation' typically refers to the process of replacing one thing with another, such as in insurance or product warranties. When considering a replacement, the assets, benefits, and limitations are important factors to consider, as they can affect the decision-making process. However, exclusions are not typically considered in a replacement situation as they represent what is not included or covered.