Who might receive dividends from a mutual insurer?

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Who might receive dividends from a mutual insurer?

a) Policyholders
b) Subscribers
c) Stockholders
d) Agents

Answer: a) Policyholders

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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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