This relationship best describes the relationship between title insurance producer (TIP) and a title insurance producer independent contractor (TIPIC)?

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This relationship best describes the relationship between title insurance producer (TIP) and a title insurance producer independent contractor (TIPIC)?

A. Joint venture
B. Controlled business association
C. Employer and employee
D. Principal and agent

Answer: D. Principal and agent

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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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