According to Social Security, an individual with 6 credits of coverage during the previous 13-quarter period is considered to be:

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According to Social Security, an individual with 6 credits of coverage during the previous 13-quarter period is considered to be:

A) partially insured
B) currently insured
C) fully insured
D) not insured

Answer: B) currently insured

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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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