MA Auctioneer Practice Questions - Massachusetts Licensed Auctioneer Exam

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An auctioneer's insurance policy has a $1,000,000 liability limit and a $5,000 deductible. If a claim of $50,000 is made, how much does the auctioneer pay out of pocket?

$$0 $$5,000 $$50,000 $$45,000

Correct Answer:

$$5,000

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