Part I: True or False: (2 marks, 0.5 each) ano's AL.CD 1. A business firm is allowed to insure the life of its CEO if a pecuniary interest is proven to the insurer. F) 2. The reason insurance contracts contain a coinsurance clause is to maintain fairness in rating. (T/F) 3. An insurance contact is unilateral, which means that the values exchanged between the insured and insurer are not equal. (T/F) 4. Replacement cost less depreciation is the best method used in determining indemnity for real estate property (T/F)