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GFOA Exam CPFO Topic 8 Question 95 Discussion

Actual exam question for GFOA's CPFO exam
Question #: 95
Topic #: 8
[All CPFO Questions]

If a building originally valued at $160,000 appreciates to $300,000 and is insured by an 80% coinsurance clause, then 80% of the value ($320,000) must be insured. If the building is still insured at only $160,000 and a $100,000 loss occurs, the loss would be:

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Suggested Answer: C

by Rebecka at Aug 25, 2024, 07:28 AM

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Celeste
1 months ago
Ah, the age-old insurance coinsurance clause dilemma. At least this isn't as bad as that time they asked about the deductible and co-pay.
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Winfred
2 months ago
Hmm, let me think this through step-by-step. I'm pretty sure the answer is C) $44,000, but I'd better double-check my work.
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Tarra
6 days ago
Pamella: Okay, let's double-check our work to be certain.
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Pamella
25 days ago
User 2: Are you sure? Let's calculate it together.
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Coletta
1 months ago
User 1: I think the answer is C) $44,000.
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Denise
2 months ago
80% of $320,000 is $256,000, not $160,000. This is clearly a trick question.
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Lashanda
1 months ago
No, I believe the correct answer is $50,000.
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Lashanda
1 months ago
I think the answer might be $40,000.
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Lashanda
2 months ago
You're right, it does seem like a trick question.
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Bernadine
2 months ago
I think the loss would be $60,000 because the building should have been insured for $256,000.
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Andrew
2 months ago
I'm not sure, but I think the correct answer is B) $50,000.
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Mattie
2 months ago
This question is a real brain-teaser! I'm not sure I can wrap my head around all the calculations involved.
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Desiree
1 months ago
D) $60,000
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Grover
1 months ago
C) $44,000
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Lang
2 months ago
B) $50,000
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Fausto
2 months ago
A) $40,000
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Jerlene
3 months ago
I agree with Vivan, the loss would be $50,000.
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Vivan
3 months ago
I think the answer is B) $50,000.
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