Final answer:
Without specific policy duration details for the loss payment limits, it cannot be determined with certainty which payment limit applies to a 33-day period of restoration. However, assuming a staggered payment schedule, the maximum sum available would likely be either 80% or 100% before the full restoration period, which would be $800,000 based on the given options.
Step-by-step explanation:
The student asked about the maximum sum available to cover extra expenses under the Extra Expense Coverage Form CP0050, with a total indemnification limit of $1,000,000 and loss payment limits stated in the insured's Declarations at 40%, 80%, and 100%. With a period of restoration totaling 33 days, one must refer to the policy document to understand how the staggered percentages apply to the restoration period. However, since the question does not provide a specific duration for each percentage, a general interpretation is to pro-rate the 33 days over the entire policy period. If 40% is the initial payment with subsequent increases at specified durations, it is likely the maximum available sum before the full restoration period is met would be less than 100% of the policy limit. Without more specific information, the correct option cannot be determined with absolute certainty, but it is likely that the maximum sum available would be either 80% or 100% depending on how the loss payment limits correlate to the restoration period. Nevertheless, assuming the increments apply such that 80% is available at 33 days, the correct sum provided to the insured would be $800,000 (Option B).