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Q: 1. S1: Maker Co, a manufacture and dealer of household appliances, agrees to indemnify a customer of…
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
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A: Premium on insurance is an amount paid to the insurance company for purchasing the insurance policy.
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Q: The following are grounds for liability to pay damages, except: a. Negligence b. Fraud c.…
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Q: Which of the following is NOT a contingent liability? a. Pending law suit for property damage b.…
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Q: Which of the type of insurance pays benefits to workers who suffer an injury on the job? Select the…
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A: Following are some exclusions from IFRS 15: Leases (IAS 17 or IFRS 16) Financial instruments and…
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Q: The life Insurance Solicitation regulation requires an insurer to provide which of the following…
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A: An insurance is defined as the method of the risk management with the regard to one's properties or…
Q: ABC a manufacturer of appliances, approved to insure a customer for any loss or damage that the…
A: PFRS 17 governs insurance contracts. When the insured event occurs, the policy holder (who insures…
Q: ector of Insurance may revoke, suspend, or refuse to issue a producer license for failing to pay…
A: The Director of insurance may suspend , revoke or refuse to issue producer license under certain…
Q: 27) Suzan’s office building was damaged by a fire caused by a careless tenant. After paying Suzan…
A: Insurance means where insurance company agree to pay the specified amount to insured person in case…
Q: Briefly comment on the following question or statement. (a) Describe approaches to minimizing legal…
A: Liability refers to as financial obligations in which the person or entity owes to another person or…
Q: Which of the following sections of a commercial general liability policy contains information about…
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A: A comprehensive general liability insurance policy is the combination of coverages for public…
Q: In which of these situations might moral hazard arise? a) Insurance companies fail to calculate the…
A: Moral hazard is the when a company protected through insurance or legislation will take more risk as…
Q: The Director of Insurance has the power to. make reasonable insurance rules and regulations…
A: Insurance means a contract between two parties in which one party bears the risk of the other party…
Q: In Property and Casualty insurance when must an Insurable interest exist? O a. At the Start of the…
A: Life insurance covers the risk of life of insured. Non-life insurance may cover people, property or…
Q: Explain the difference between commutative contract and non-commutative contract. Why Insurance is…
A: COMMUTATIVE CONTRACT In Arabic aqd mu'awadha, it is a type of compensatory contract whereby one…
Q: Insurance
A: Insurance is protection against unforeseen risks. It compensates for the losses suffered either by…
Q: Describe the liability of a minor who (1) disaffirms a contract or (2) misrepresents his age.
A: A minor is one who has not achieved the age of 18, and for every agreement or contract, the greater…
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- What are the main parts of an insurance contract and what are they designed to accomplish? How are insurance contracts interpreted by the courts and regulatory bodies? In a dispute over coverage who has the burden of proof? What is subrogation as it relates to insurance? Consider a situation where a professional misrepresents information when acquiring an insurance policy and a third party is injured. What might happen if a claim is made against the insurance company that issued the policy based on fraudulent information? Will the insurance company be liable? Support your position with a specific case.Does the rule rendering an insurance contract voidable as a result of concealment apply with equal force to all types of property insurance?Homeowners insurance provides coverage for: Damages that the insured becomes legally obligated to pay because of bodily injury or property damage. Perils not named in a named peril policy. The insured's personal, nonbusiness activities that occur anywhere. Damages resulting from intentional acts of an insured.
- which of the following is not a specific risk to individual for violations of AML Laws? Civil Penalties,, loss of passport, termination of employment or criminal penaltiesDescribe the liability of a minor who (1) disaffirms a contract or (2) misrepresents his age.. In which situations would an employer issue an ROE with a "D" (Illness or Injury) code? Provide a hypothetical case.
- 1. S1: Maker Co, a manufacture and dealer of household appliances, agrees to indemnify a customer of any loss or damage that the customer may sustain from the use of purchase appliance. The contract to indemnify the customer in case of loss event is accounted for under PFRS 15. S2: Under insurance contract, the party that has a right to compensation if the insured event occurs is referred to as the policyholder. Only S1 is correct. Both statements are correct Only S2 is correct. Both statements are incorrect. 2. It is the change in the relation of the partners caused by any partner being disassociated from the business. Dissolution Formation Liquidation Operations 3. If the promise to grant a license is distinct and that the license provides the customer the “right to access” the entity’s intellectual property, how is revenue recognized from the initial fee in the contract? in full when the initial services to setup the contract are substantially performed deferred and…Explain the basic elements of the negligence action What is product liability? Can an injured employee sue a coworker? Explain your answer. What is Form CA-1? What is the Federal Black Lung Program? What is Social Security Disability Insurance? Explain the function of Medicare. What is continuation pay? How does a person qualify for Medicaid? What agency is responsible for coordination benefits a person receives on the state and federal level?3326 J requests insurance on a neighbor's home in his own name. The insurance producer explains that such a policy also would violate the principle of: a. subrogation b. assignment c. warranty d. insurable interest 3330 Which of the following actions represents consideration in an insurance contract? a. paying the premium b. filing a claim c. missing the policy d. endorsing a policy
- STATE: Which of the following statements regarding homeowner's insurance is true? A. The listing agent should advise the seller to cancel homeowner's insurance immediately after by the seller's standard homeowner's going under contract B. Vacant properties are always covered insurance police C. A seller that retains possession after closing may not be covered under their homeowner's insurance policy D. Homeowner's insurance policy premiums are not affected by previous claimsTrue or False? 1. An insurance contract is derecognized when it is extinguished and when it is modified where the modification meets any of the conditions for derecognition. 2. The occurence of the event must be certain at the inception of the insurance contract.The insurance Commissioner must approve which of the following types of insurance rates prior to their use: A. Fire B. Title C. Inland marine D. Workers Compensation Loss Cost
