Solve the Problem. -Mark Stephens Owns Rental Units with a Replacement Cost of Replacement

question 64

Multiple Choice

Solve the problem.
-Mark Stephens owns rental units with a replacement cost of $290,000 which are insured for $188,500 with an 80% coinsurance clause. There is a fire loss of $20,500. How much will the insurance company pay?

• A)$13,325
• B)$19,988
• C)$20,500
• D)$16,656

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Definitions:

Personality

A combination of emotional, attitudinal, and behavioral response patterns of an individual, distinguishing one person from another.

Genetic

Relating to genes or heredity and the study of how traits are passed from parents to offspring.

Trait-Situation Interaction

A concept in psychology that suggests individuals' behavior is determined by the interaction of their personality traits and environmental situations.

Modern Psychoanalytic Theory

An evolution of Freudian psychoanalysis that may incorporate social, cultural, and interpersonal dynamics in understanding the psyche.