Intentional withholding of material facts that would affect an insurance policy's validity is called a(n)

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Intentional withholding of material facts that would affect an insurance policy's validity is called a(n)

A) estoppel
B) concealment
C) adhesion
D) misrepresentation

Answer: B) concealment

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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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