Bailees customers policy - Study guides, Class notes & Summaries
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CAIB 2 - Chapter 5 Questions & Answers 100% C0rrect
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identify three reasons why a bailee may have temporary custody of the personal property of another - ANSWERfor repair 
 
for safekeeping or storage 
 
for delivery to others 
 
identify three examples of businesses who may be bailees for hire - ANSWERsmall engine repair shops 
 
dry cleaners 
 
tailors 
 
briefly explain the level of 'ordinary care' to be exercised by a bailee - ANSWERthere is a legal duty on the bailee to take the same care of goods of others as would be taken by a prudent an...
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AINS 103 EXAM QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) ALREADY GRADED A+
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AINS 103 EXAM QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) ALREADY GRADED A+ 
Ava is Regional Manager for Goshen Mutual. She is looking over the past auto losses for Disposal Inc. She is tracking the experience of their drivers, the location of accidents, and the severity of the injury to their employees and the public. She is trying to determine the frequency and severity of the auto exposure for Disposal and to use the future models to suggest where Disposal alloca...
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CAIB 2 - Chapter 5 Study Guide with Questions and Correct Answers
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Identify three reasons why a bailee may have temporary custody of the personal property of another for repair 
 
For safekeeping or storage 
 
For delivery to others 
 
Identify three examples of businesses who may be bailees for hire small engine repair shops 
 
Dry cleaners 
 
Tailors 
 
Briefly explain the level of 'ordinary care' to be exercised by a bailee there is a legal duty on the bailee to take the same care of goods of others as would be taken by a prudent and diligent owner of ...
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State Farm Insurance License Exam Questions And Answers
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State Farm Insurance License Exam Questions And Answers 
 
Abandonment Condition - ANS A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. 
 
Accident - ANS A loss that occurs at a specific time and place 
 
Actual Cash Value (ACV) - ANS Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. 
 
admitted insurer; auth...
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CAIB 2 - Chapter 5 Exam Questions and Answers Completely Solved
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identify three reasons why a bailee may have temporary custody of the personal property of another - ANSWER-for repair 
 
for safekeeping or storage 
 
for delivery to others 
 
identify three examples of businesses who may be bailees for hire - ANSWER-small engine repair shops 
 
dry cleaners 
 
tailors 
 
briefly explain the level of 'ordinary care' to be exercised by a bailee - ANSWER-there is a legal duty on the bailee to take the same care of goods of others as would be taken by a prudent...
And that's how you make extra money
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State Farm Insurance License Exam 100% Graded A+ & Verified Que & Ans
- Exam (elaborations) • 10 pages • 2024
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Abandonment Condition - ANS A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. 
 
Accident - ANS A loss that occurs at a specific time and place 
 
Actual Cash Value (ACV) - ANS Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. 
 
admitted insurer; authorized insurer - ANS Company ...
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CAIB 2 Chapter 5 Practice Test 1 Exam Questions With 100% Correct Answers.
- Exam (elaborations) • 3 pages • 2023
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Define Bailee for Hire. - Person or organization who has temporary custody of the personal 
property of 
another for a purpose other than sale and who is compensated as a condition of such custody 
Identify three types of Bailees and provide an example of each. - i) Repair of personal property 
example: Television repair shop 
ii) Storage of personal property 
example: Public storage warehouse 
iii) Delivery of personal property 
example: Courier service 
Define Ordinary Care. - Requirement to t...
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AZ Insurance Exam Prep Latest 2024 100% Pass
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AZ Insurance Exam Prep Latest 2024 100% Pass Absolute Liability Liability that arises from an extremely dangerous situation. Absolute liability is often found in cases involving explosives. AKA "Strict" liability. 
For example: You are absolutely liable if you keep a wild animal as a pet. 
Accident A Sudden and unexpected event, occurring at a specific time and place. 
Actual Cash Value (ACV) The cost to replace an item of property at the time of loss, less an allowance for depreciation. Often...
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State Farm Insurance License Exam Questions with solutions Scored A+
- Exam (elaborations) • 11 pages • 2024
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State Farm Insurance License Exam Questions with solutions Scored A+ 
Abandonment Condition 
A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. 
 
 
 
Accident 
A loss that occurs at a specific time and place 
 
 
 
 
Brainpower 
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Actual Cash Value (ACV) 
...
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State Farm Insurance License Exam Already Graded A+
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State Farm Insurance License Exam Already Graded A+
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