GENERAL INSURANCE EXAM #1 LATEST % GAURANTEED PASS
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GENERAL INSURANCE
Institution
GENERAL INSURANCE
GENERAL INSURANCE EXAM #1 LATEST % GAURANTEED PASS
A publishing company solicits manuscripts for publication. The publishing company is concerned that an author might plagiarize material and that the person who was plagiarized might sue the publisher. To address this risk, the contract with the au...
GENERAL INSURANCE EXAM #1 LATEST 2024-2025 100%
GAURANTEED PASS
QUESTION 1
A publishing company solicits manuscripts for publication. The publishing company is concerned that
an author might plagiarize material and that the person who was plagiarized might sue the publisher.
To address this risk, the contract with the author includes a hold-harmless agreement. Through this
agreement, the author, rather than the publisher, is held liable for plagiarism. In this situation, the
publisher is using the hold-harmless agreement as what type of risk treatment measure?
-risk avoidance
-risk selection
-risk retention
-risk transfer
risk transfer
QUESTION 2
An individual may commit an act that results in bodily injury or damage to someone's property. A
court of law may order the person responsible for the wrongful act to pay damages to the party who
was injured. This type of risk is called the:
-nondiversifable risk
-liability risk
-property risk
-speculative risk
liability risk
, QUESTION 3
A condition that increases the chance of loss is called a(n):
-indirect (consequential) loss
-hazard
-direct loss
-peril
hazard
QUESTION 4
The relative variation between expected losses and actual losses is called:
-objective probability
-objective risk
-subjective risk
-subjective probability
objective risk
QUESTION 5
Kyle opened a sporting goods store. After a fire damaged the store, Kyle was forced to close the
business for four weeks while repairs were completed. The loss of profits that could have been earned
if the business had remained open is best described as a(n):
-direct loss
-peril
-hazard
-indirect (consequential) loss
indirect loss
QUESTION 6
Dean's Discount Store has been experiencing problems with shoplifting losses. Dean decided to install
a camera monitoring system and to use magnetic tags on some products. If a tag is not demagnetized
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