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A homeowner's dwelling is insured for $200,000 with an 80% coinsurance clause. The replacement cost is $300,000. A covered loss of $60,000 occurs. How much will the insurer pay?
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This is an authentic practice test created using the ALA Mirror Method. It is not the actual Property & Casualty insurance licensing examination. Insurance licensing requirements vary by state. US Testing Center is not affiliated with or endorsed by any state insurance department.