Minnesota Real Estate Exam Practice Question
Which part of the Commercial Package Policy has information about who is insured and for what lines?
Correct Answer: A
Rationale: The Common Policy Declaration provides essential details about the insured entities and the specific lines of coverage included in the Commercial Package Policy. This section outlines who is covered and what types of insurance are applicable, making it crucial for understanding the scope of the policy.
The Common Policy Conditions (B) outline the obligations and rights of the insurer and insured but do not specify who is insured. Limits of Insurance (C) detail the maximum coverage amounts for each line, but do not identify the insured parties. Definitions (D) clarify terms used in the policy but do not provide information about the insured or coverage lines.
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