Which of the following statements is (are) true concerning the value r

Which of the following statements is (are) true concerning the value reporting form?

I. Failure to report accurately suspends coverage.
II. If the insured underreports the property values at a location, and a loss occurs at that location, recovery is limited to the proportion that the last value reported bears to the value that should have been reported.
A) I only
B) II only
C) both I and II
D) neither I nor II

ANSWER

Answer: B