All of the following are contained in the common policy declarations page of a commercial package policy EXCEPT

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All of the following are contained in the common policy declarations page of a commercial package policy EXCEPT

A) a description of the insured property
B) the policy period
C) the premium paid
D) the policy cancellation provisions

Answer: D

Commercial Property Insurance

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

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