All of the following are extensions of coverage under the building and personal property coverage form EXCEPT

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All of the following are extensions of coverage under the building and personal property coverage form EXCEPT

A) newly acquired or constructed property
B) valuable papers and records
C) property off the premises
D) currency and securities

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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