An assignee is a person/entity who receives a mortgage that is being assigned.

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An assignee is a person/entity who receives a mortgage that is being assigned.

A. True
B. False

Answer: A.True

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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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