When a person reserves the right of the use and enjoyment of real property only until death; this interest is known as:

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When a person reserves the right of the use and enjoyment of real property only until death; this interest is known as:

A. Joint tenancy
B. Tenancy in common
C. Life estate
D. lease

Answer: C. Life estate

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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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