A floating inventory lien is a lender's claim on the borrower's general inventory as collateral for a secured loan

What is the second step in strategy making?

What will be an ideal response?

Frank's property insurance requires periodic reporting of inventory values. Frank believes he can save money by under-reporting the inventory

Last period, Frank reported $200,000 when the value was really $400,000. Shortly after filing the report, when the value was $500,000, the inventory was destroyed. Ignoring any deductible, how much will Frank's insurer pay? A) nothing, as underreporting voids coverage B) $200,000 C) $250,000 D) $400,000