Exam (elaborations)

MLIS Exam Questions & Answers 2024/2025

0 purchase

Module
MLIS

Institution
MLIS

[Show more]

Preview 2 out of 10 pages

View example

Uploaded on November 15, 2024
Number of pages 10
Written in 2024/2025
Type Exam (elaborations)
Contains Questions & answers

mlis exam questions answers

Institution MLIS
Module MLIS

Bensuda

Member since 2 year 596 documents sold

£6.95

Add to cart

Add to wishlist

100% satisfaction guarantee
Immediately available after payment
Both online and in PDF
No strings attached

MLIS Exam Questions & Answers
2024/2025

Side A Coverage - ANSWERSCovers directors and officers when the corporation does not indemnify.
Liability Coverage or personal assets protection.

No retention

Side B Coverage - ANSWERSCovers the corporations obligation to indemnify directors and officers -
balance sheet protection/corporate reimbursement coverage. .

Largest retention

Side C Coverage - ANSWERSEntity Securites Coverage - Covers the corporation as a defendent in litigation
involving securities issued by the organization

Largest retention

Side D Coverage - ANSWERSDerivative Investigation Covergae - Pays the cost of investigations that are
required when a derivative claim is made against the insured corporation.

No retention - usually subject to a $250,000 sublimit

Side A coverage applies in which 3 situations? - ANSWERS1. Parent organization is not legally required or
able to indemnify directors and officers for a specific claim

2. when defendant directors and officers must pay a settlement or judegement in a shareholder
derivative lasuit

3. when the company lack the financial capacity to indemnify its directors and offcers
(bankrupcy/insolvency)

Side A only (DIC) policies are intended to cover which 2 scenarios? - ANSWERS1. Provides excess limits in
the event the limits under the primary form are exhausted by claim payments and defense costs.

2. Drops down over primary forms in the event that an exclusion or other restriction applies under the
primary form.

, In the case of a bankruptcy, can a trustee who "stands in the shoes" of a corporate entity access the Side
A only (DIC) policy proceeds? - ANSWERSNo, because the corporate organization is not covered under
Side A forms.

Will Side A only (DIC) coverage apply to severable warranties, or when the CFO or CEO intentionally lies
on a D&O application? - ANSWERSYes

Are financial ststatememts covered in a Side a only (DIC) policy? - ANSWERSYes, but they would not be
covered in a traditional D&O policy.

Side A-only (DIC) forms cannot be recinded based on fraud committed by any insured under the policy?
(T/F) - ANSWERSTrue - for any d& that did not commit the fraud

If a lawsuit names only the parent organization and not the collective or individual directors and officers,
which Coverage Part will apply? - ANSWERSSide C only

Gamma Corporation's directors and officers policy provides Side A and Side B coverage but not Side C or
Side D coverage. Allegations clearly covered by the policy are involved in a claim that names individual
board members and Gamma Corporation itself as defendants. Under these circumstances:

a. coverage will be available for the corporation but not for the individual board members.

b. the insurer will deny the claim.

c. the insurer will pay the claim in full.

d. coverage will be available for the individual board members but not for the corporation. - ANSWERSd.
coverage will be available for the individual board members but not for the corporation.

Because she committed a particular wrongful act in her role as an officer of Theta Co., Amy is required to
pay damages to a third party. Theta's directors and officers (D&O) policy includes coverage under Sides
A, B, C, and D. However, under applicable state law, Theta Co. cannot indemnify Amy for her loss. Under
these circumstances, Amy might:

a. need to absorb a large retention.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Bensuda. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £6.95. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

68175 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 15 years now

Start selling

Exam (elaborations)

MLIS Exam Questions & Answers 2024/2025

Document information

Subjects

Written for

Seller

Reviews received

Content preview