AIC 302 Exam Questions & Answers 2024/2025
First-party claim - ANSWERSA demand by an insured person or organization seeking to
recover from its insurer for a loss that its insurance policy
may cover.
Third-party claim - ANSWERSA demand against an insured by a person or organization
othe...
First-party claim - ANSWERSA demand by an insured person or organization seeking to
recover from its insurer for a loss that its insurance policy
may cover.
Third-party claim - ANSWERSA demand against an insured by a person or organization
other than the insured or the insurer, seeking to recover
damages that may be payable by the insured's liability
insurance.
Negligence - ANSWERSThe failure to exercise the degree of care that a reasonable
person in a similar situation would exercise to avoid
harming others.
Proximate cause - ANSWERSA cause that, in a natural and continuous sequence
unbroken by any new and independent cause, produces
an event and without which the event would not have
happened.
Dram shop act - ANSWERSA statute holding establishments that serve alcoholic
beverages responsible for harm that results from serving
patrons alcohol in violation of the statute.
Negligent entrustment - ANSWERSThe act of leaving a dangerous article with a person who
the lender knows, or should know, is likely to use it in an
, unreasonably risky manner.
Negligence per se - ANSWERSAn act that is considered inherently negligent because of a
violation of a law or an ordinance
Vicarious liability - ANSWERSA legal responsibility that occurs when one party is held
liable for the actions of a subordinate or an associate
because of the relationship between the two parties.
Agent - ANSWERSIn the agency relationship, the party that is authorized by
the principal to act on the principal's behalf.
Principal - ANSWERSThe party in an agency relationship that authorizes the
agent to act on that party's behalf.
Rescue doctrine - ANSWERSA legal doctrine providing that a party causing an accident
can be liable to any people involved in rescue efforts as a
result of the accident.
Joint and several
liability - ANSWERSThe liability of multiple defendants either collectively
or individually for the entire amount of damages sought
by the plaintiff regardless of their relative degree of
responsibility.
Tortfeasor - ANSWERSA person or an organization that has committed a tort.
Successive tortfeasors - ANSWERSParties whose independent acts do not produce a single
event but unite to cause a single injury that can be easily
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