How old must applicants for a producer's license be?
How old must applicants for a producer's license be?
A) 21 years old.
B) 16 years old.
C) 17 years old.
D) 18 years old.
Answer: 18 years old.
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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