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RMIN 4000 UGA Edmunds Test 2 Questions and Answers

RMIN 4000 UGA Edmunds Exam 4/Questions and Solutions

requirements of res ipsa loquitur - does not normally occur in absence of negligence, defendant has exclusive control over the instrumentality causing the accident, and injured party has not contributed to the accident assumption of risk - A person who understands and recognizes the danger inherent in a particular activity cannot recover damages in the event of an injury (foul ball at game) contributory negligence - Injured person cannot collect if their care falls below the standard of ca...

RMIN 4000 UGA Edmunds Exam 4 Questions and Answers | Latest Update | 2024/2025 | 100% Pass What is risk management? Risk management involves identifying, assessing, and prioritizing risks followed by coordinated efforts to minimize or control their impact. What is a risk transfer strategy? Risk transfer involves shifting the financial burden of risk from one party to another, often through insurance or contractual agreements. What is deductible in insurance terms? A deduct...

50% rule - you cannot recover if you are 50% or more at fault 51% rule - you cannot recover if you are 51% or more at fault additional coverages under Section I - debris removal of damaged property, reasonable repairs, trees and other plants, fire department service charge, unauthorized credit card use, loss assessment, collapse, ordinance or law, graves markers or landlord's furnishings appraisal - used when insured and insurer agree that loss is covered but disagree as to loss amount a...