What are an applicant's statements concerning occupation, hobbies, and personal health history regarded as?

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What are an applicant's statements concerning occupation, hobbies, and personal health history regarded as?

A) warranty
B) guarantee
C) representation
D) collateral

Answer: C) representation

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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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The voluntary relinquishment of a legal right is called
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