David Owns a Commercial Building with a Replacement Cost of $4

question 34

Multiple Choice

David owns a commercial building with a replacement cost of $4 million.The building is insured on a replacement cost basis for $2.4 million under a fire insurance policy that has an 80 percent coinsurance clause.How much will David collect if the building sustains a covered fire loss with a replacement cost of $80,000?

• A)$50,000
• B)$60,000
• C)$66,667
• D)$80,000

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Definitions:

Men

Refers to adult human males, often discussed in the context of gender studies, sociology, and human biology.

Espoused Values

Espoused values are the explicitly stated values and norms preferred by an organization, which are often communicated through its mission and vision statements.

Global Organization

An entity that operates in multiple countries, often with a centralized headquarter but with operational facilities spread worldwide.

National Cultures

The set of shared values, beliefs, and norms that distinguish the people of one country from those of another.