Heather and Jeff had the roof blown off their home during a recent storm.
Which one of the following best expresses the financial outcome they are
currently experiencing?
A. No change in their financial outcome
B. Increased expenses
C. Lost income
D. Reduction in property value
Ans- D. Red...
AINS102 Practice Exam Questions and Answers Heather and Jeff had the roof blown off their home during a recent storm. Which one of the following best expresses the financial outcome they are currently experiencing? A. No change in their financial outcome B. Increased expenses C. Lost income D. Reduction in property value Ans- D. Reduction in property value All of the following are considered personal property, EXCEPT: A. Cherry tree B. Antique piano C. Revolver D. Patent Ans- A. Cherry tree SF Poultry learned that a numbe r of individuals had become ill and hospitalized after eating chicken from one of its processing plants. The company did not advise the public or its distributors of the problem, and made no effort to recall the spoiled product. Over 50 individuals ended -up becoming ill from the spoiled chicken. SF Poultry was found liable in court. In addition to having to pay the medical and hospital bills for the injured individuals, damages were levied against SF Poultry to punish the company for its reckless and deceit ful actions. These damages that were levied against SF Poultry are known as A. Punitive damages. B. Necessary damages. C. Special damages. D. General damages Ans- A. Punitive damages. Punitive damages are meant to punish a defendant for reckless, malicious, or deceitful acts and need not bear any relation to the party's actual damages. Sophie was involved in an auto accident with another vehicle. The driver of the other vehicle was ser iously injured. The individual spent 10 days in the hospital, missed 2 months of work, and continues to experience mental distress. The other vehicle was also damaged, with repair costs of $5,000. It was determined that Sophie was liable for the damages be cause she ran a red light and caused the accident. Which one of the following damages would be considered general damages? A. Damages to the vehicle B. Mental distress compensation C. Two months of lost wages D. Hospital and medical bills Ans- B. Ment al distress compensation General damages, also called direct or necessary damages, are often presumed when special damages are proven. General damages can include compensation for pain and suffering, future effect of disfigurement, loss of a limb, sight, or hearing, as well as emotional distress. Which one of the following is considered a high -risk driver? A. Mark was caught and convicted of driving under the influence of alcohol. B. Stacey was involved in a deadly car accident. C. Martin can only qualif y for the most expensive auto insurance. D. Cyndy cannot obtain insurance from a private insurer. Ans- A. Mark was caught and convicted of driving under the influence of alcohol. States A, B, C, and D have addressed the problem of compensating auto accident victims differently. Which one of the following most accurately describes the way that states are handling this issue?
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 or Stuvia-credit 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 MASTER01. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.79. You're not tied to anything after your purchase.
