In some instances, an open line of credit allows a borrower to obtain additional funds/future advances

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In some instances, an open line of credit allows a borrower to obtain additional funds/future advances

A. True (A closed line of credit does not)
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?

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

In insurance,

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Which is generally true regarding insureds who have been classified as preferred risks

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What documentation grants express authority to an agent?

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