When handling premiums for an insured, an agent is acting in which capacity?
When handling premiums for an insured, an agent is acting in which capacity?
A) Adhesion
B) Fiduciary
C) Conditional
D) Aleatory
Answer: B) Fiduciary
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