Implied warranty Study guides, Class notes & Summaries

GUIDE TO Clinical Documentation Debra D. Sullivan, PhD, RN, PA-C Lead Advanced Practice Provider Academic Urology and Urogynecology of Arizona Litchfield Park, AZ Owner, Sullivan Consulting Services Medicolegal Consulting Glendale, AZF. A. Davis Company 1915 Arch Street Philadelphia, PA 19103 Copyright © 2019 by F. A. Davis Company Copyright © 2019 by F. A. Davis Company. All rights reserved. Łis product is protected by copyright. No part of it may be reproduced, stored in a r...

AAMI LAW 411: Mortuary Law Exam Questions with 100% Correct Answers True or False: Funeral goods that are sold by the funeral home carry an implied warranty of merchantability. - True. True or False: The Magnuson-Moss Warranty Act is a federal statue which governs only express warranties. - False. True or False: The Magnuson-Moss Warranty Act is a federal statue which governs both express and implied warranties. - True. True or False: The Magnuson-Moss Warranty Act allows Funeral Homes ...

What is insurance? correct answer: Insurance transfers the risk of loss from an individual or business entity to an insurance company, which in turn spreads the costs of unexpected losses to many individuals. What is risk? correct answer: Risk is the uncertainty or chance of a loss occurring. What is peril? correct answer: Perils are the causes of loss insured against in an insurance policy. What are the elements of insurable risk? correct answer: Loss must be 1. due to chance 2....

Rules of Construction Help to identify and establish the intent of the parties to the contract Utmost good faith Each party is entitled to rely on the representation of the other, and each party should have a reasonable expectation that the other is acting in good faith without attempts to conceal or deceive. Aleatory Contract A contract under which one party's performance is contingent on an uncertain event. property and casualty agent has the power to bind the insurer...

A savings vehicle designed to first accumulate funds and then systematically liquidates the funds is called a(n) - Deferred Annuity Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? - 60 Payments What distinguishes a deferred annuity from an immediate annuity? - The time at which benefit payments start The systematic liquidation of a sum of money...

PRIMERICA LIFE INSURANCE EXAM WITH 100% CORRECT ANSWERS 2023 An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock - Correct answer-A. mutual funds not paid out after paying claims and other operating costs are re...

You have a requirement to buy a large commercially available, prefabricated wash rack for your installation. The catalog price is $102,000. correct answer: Simplified acquisition procedures can be used The Director of training for the installation has a request to purchase 25 televisions and 25 DVD recorders for the new training facility that will open next month. Each television will cost approximately $525, and each DVD recorder about $150. correct answer: Simplified acquisition procedure...

Texas Life and Health Insurance Exam (Answered) Verified Solution At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? Upon completion of the application Who elects the governing body of a mutual insurance company? policyholders An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the Fair Credit Reporting Act What type of reinsurance contract involves two c...

What is the name given to the collection of written decisions? - Answer- Case Law Explain the concept of the Rule of Precedent. - Answer- Current court decisions must follow those made in cases having similar circumstances, which allows the development of a logical body of general principles against which specific cases to be compared. Explain the meaning of the term "damages". - Answer- Compensation in money for the loss or damage suffered. Compensatory damages for bodily injury are ...

Ocean Marine Insurance - Answer-principally associated with vessels and their cargoes; also includes international air shipments as well as transportation by land or air that connects with an ocean shipment or international air shipment. Cargo Insurance - Answer-Insurance that covers loss of or damage to property shipped primarily by water or, if in foreign trade, by air. Hull Insurance - Answer-Insurance that covers partial or total loss of vessels caused by a covered peril; may also cove...