When the principal gives the agent authority in writing, it's referred to as

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When the principal gives the agent authority in writing, it's referred to as

a) express authority
b) implied authority
c) apparent authority
d) imposed authority

Answer: a) express authority

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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?

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