help Which best describes Direct Compensation Property Damage (DCPD), also known as "No Fault Insurance"?OA) Neither party is At Fault when a collision occurs and each party pays their own deductible.OB) The Third Party's insurance policy pays for the damages.OC) Each party claims damages through their own policy and pays their deductible based on the percentage theyare deemed to be at fault.OD) When a collision occurs in a parking lot or on private property, fault determination rules do not apply.

In the realm of automobile insurance, Direct Compensation Property Damage (DCPD), also known as "No…

Answered: Which best describes Direct…

Purchasing and Supply Chain Management

6th Edition

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Chapter15: Purchasing Law And Ethics

Section: Chapter Questions

Problem 6DQ

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Which type of insurance provides protection from third-party claims during construction? Comprehensive General liability Builder’s risk Key-man (key-person) Workers’ compensation Property insurance
If an insurer receives an application for Travel Health insurance that reveals the applicant has a pre-existing medical condition, certain action may be taken. Which one (1) of the following actions would the insurer most likely NOT take? OA) The application may be rejected. OB) Policy benefits may be limited or capped. OC) An additional premium may be required. OD) The application will be referred to a "High-Risk Pool" of insurers.
An individual health insurance policy contains a Change of Occupation provision. If the insured experiences a loss in a more hazardous occupation than when the policy was issued, the insurance company may: A) adjust benefits to the premium provides for the new occupational B) increase the waiting period to adjust for the occupational differences C) deny any daim on the bast of misrepresentation D) increase the deducible to adjust for the occupational difference
JoeBob Truck Parts, Inc., in Austin sells certain material to Detailer “R” Stores in Omaha, Nebraska. JoeBob Truck Parts packs the parts and ships it by semi-tractor trailer to Detailer “R.” In transit across Oklahoma, a storm wrecks the tractor-trailer and scatters and shreds the truck parts across miles of bean-fields. What are the consequences if Detailer “R” bore the risk? What are the consequences if JoeBob Truck Parts bore the risk? Answer must discuss risk and title passing
Determine the delictual liability from this scenario? Tree Combined School has hired a flower planting contractor to plant flowers in the school premises. The contractor came with two trucks to supply fertile soil and flowers. The deputy principal requested all educators to supervise learners during break to avoid injury. On Monday educators followed their ground duties roster very well. On Tuesday one of the educators came with a birthday cake and invited all educators to come and enjoy his birthday during break. He told educators that they should not be afraid to leave learners alone because they have a right to eat during break. While all educators (including those that were on duty) were busy enjoying themselves, one of the groundsmen came running to the deputy principal’s office to inform him that one of the grade 2 learners has been knocked down by a truck.
The UCC has replaced the common law concept1 The UCC has replaced the common law concept of title in part with the concept of risk of loss.2. True or False: If goods or tender of delivery fail in any respect to confirm to a contract, the buyer or lessee loses the right to accept the goods.3. True or False: If a lessee is insolvent, a lessor can stop a carrier or bailee from delivering the goods regardless of the quantity shipped.4. City Cab Company and Daveâ€™s Autos enter into a contract for a sale of motor vehicles. City assures Daveâ€™s that it has valid title to the vehicles. Under the UCC, warranties of title arises:a. Automatically in most sales contracts.b. Only if the buyer asks for such a warranty.c. Only if the seller expresses such a warranty.d. Only in conjunction with lease contracts, not sales contracts.5. Concrete Products, Inc., assures Deepwater Construction Company (DCC) that Concreteâ€™s cement will not crack within a…
Which one (1) of the following situations may have an effect upon the premium charged for a Homeowners Comprehensive policy? OA) Theft coverage on unscheduled jewellery up to a $2,000 limit. OB) The house is unoccupied for three (3) months during the winter. OC) The insured installs a wood burning stove. OD) The insured's mother-in-law moves into the house.
82 of 90 Your insured's autornobile is damaged by another automobile owned and driven by his brother. The brother is found responsible for the $1,000 damage but does not carry any automobile insurance. Your insured carries a standard O.A.P Owner's Policy with Liability, standard Accident Benefits, Uninsured Automobile and Direct Compensation Property Damage, but with no Collision coverage. How much will your insured's policy pay? Nothing, as your insured had no collision insurance. Nothing, since the other driver is related to the insured. $500.00
Your insureds occupy a single family detached dwelling. For economic reasons, they are considering renting the finished basement to a tenant. What affect will this have on their Homeowners Policy? O A) None at all. Renting part of a dwelling is not considered a commercial activity. O B) They will have to install a smoke detector in the basement and the policy will then be in full force. O C) The policy will have to be cancelled and re-issued on a Secondary Dwelling form. O D) The policy must be endorsed to declare it is no longer a single family, owner- occupied dwelling."
Which of the following scenarios is a permissible fee splitting for settlement sarvicen? A) Two or more persons split a fee for settlement services, any portion of which is unearned B) A payment pursuant to cooperative brokerage and referral arrangements or agreements between real estate agents and real estate brokers C) One service provider charges the consumer a fee where no, nominal or duplicative work is done, or the fee is in excess of the reasonable value of goods or facilities provided or the services actually performed
Write a one-paragraph description of each of the following individuals and their circumstances. A person who should purchase property insurance. A person who should not purchase property insurance.
Faxwxting An insured purchases a $100,000 Accidental Death and Dismemberment policy that will pay triple indemnity for death caused when riding in a common camine. If the insured a commercial airplane crash, the policy will pay a MAXIMUM of OA O D. $100,000 $200,000 $300,000 $400,000 Marbour

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