Solve the Problem. -Golden Oaks Apartments Has a Replacement Cost of $202,000 and of $202,000

question 57

Multiple Choice

Solve the problem.
-Golden Oaks Apartments has a replacement cost of $202,000 and is insured for $121,000. A fire loss is for $14,000. Find the amount of loss paid by the company. Assume an 80% coinsurance clause.

• A)$8,400
• B)$11,200
• C)$14,000
• D)$10,483

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Definitions:

Big Five

A model describing five major dimensions of human personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Neutral Observers

Refers to individuals or entities that watch or analyze events without influencing them or having a preconceived bias.

Samuel Gosling

A psychologist known for his research on personality in humans and animals, including studies on how physical spaces (like rooms) reflect personality traits.

Self-Absorption

A state in which an individual is excessively preoccupied with their own feelings, needs, and interests.