Exam 19: The Liability Risk
Exam 1: Risk in Our Society51 Questions
Exam 2: Insurance and Risk40 Questions
Exam 3: Introduction to Risk Management49 Questions
Exam 4: Advanced Topics in Risk Management45 Questions
Exam 5: Types of Insurers and Marketing Systems40 Questions
Exam 6: Insurance Company Operations44 Questions
Exam 7: Financial Operations of Insurers42 Questions
Exam 8: Government Regulation of Insurance44 Questions
Exam 9: Fundamental Legal Principles48 Questions
Exam 10: Analysis of Insurance Contracts39 Questions
Exam 11: Life Insurance55 Questions
Exam 12: Life Insurance Contractual Provisions51 Questions
Exam 13: Buying Life Insurance40 Questions
Exam 14: Annuities and Individual Retirement Accounts41 Questions
Exam 15: Individual Health Insurance Coverages43 Questions
Exam 16: Employee Benefits: Group Life and Health Insurance49 Questions
Exam 17: Employee Benefits: Retirement Plans42 Questions
Exam 18: Social Insurance48 Questions
Exam 19: The Liability Risk46 Questions
Exam 20: Homeowners Insurance,section I41 Questions
Exam 21: Homeowners Insurance,section Ii34 Questions
Exam 22: Auto Insurance46 Questions
Exam 23: Auto Insurance and Society37 Questions
Exam 24: Other Property and Liability Insurance Coverages38 Questions
Exam 25: Commercial Property Insurance40 Questions
Exam 26: Commercial Liability Insurance38 Questions
Exam 27: Crime Insurance and Surety Bonds34 Questions
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Which of the following statements about torts is (are)true?
I.The person who is injured or harmed by a tort is called a plaintiff or claimant.
II.The punishment for committing a tort is damages in the form of money.
(Multiple Choice)
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All of the following are proposed solutions to the medical malpractice problem EXCEPT
(Multiple Choice)
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Which of the following are legal obligations of a property owner with respect to an invitee?
I.The property owner must warn an invitee of any unsafe conditions.
II.The property owner must inspect the premises and eliminate any dangerous conditions revealed by the inspection.
(Multiple Choice)
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One tort reform permits manufacturers to assert that as long as the product conformed to the prevailing technology and production methods at the time it was produced,it cannot be considered a defective product today.This defense is called the
(Multiple Choice)
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Under common law,which of the following persons is most likely to be classified as an invitee?
(Multiple Choice)
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Arguments in favor of reforming the civil justice system include which of the following?
I.There is often a long delay in settling lawsuits.
II.Compensation awards have decreased significantly over the past two decades.
(Multiple Choice)
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Michelle had major abdominal surgery.Months after the surgery,she still did not feel well.When she was operated on again,the surgeon discovered two sponges that were not removed at the conclusion of the first operation.Michelle should be able to collect damages without having to prove negligence under the doctrine of
(Multiple Choice)
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Under certain conditions,the wrongful acts of one person can be attributed to another person.This practice is called
(Multiple Choice)
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Heather sued Robert for injuries suffered in an automobile accident.Based upon the facts presented,the jury concluded that Heather was 40 percent at fault in the accident and Robert was 60 percent at fault.Under the common law doctrine of contributory negligence,the jury should award Heather
(Multiple Choice)
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Common situations involving strict liability include all of the following EXCEPT
(Multiple Choice)
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A defendant who is only slightly liable may be required to pay the full amount of damages under which of the following?
(Multiple Choice)
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James was injured in an auto accident caused by another motorist's negligence.He received severe facial lacerations and injured his back in the accident.In payment for his pain,suffering,and disfigurement,losses which cannot be specifically itemized,James will receive
(Multiple Choice)
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All of the following are examples of tort reform proposals EXCEPT
(Multiple Choice)
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Louise was in a hurry and tried to cross the street in the middle of the block rather than at a street corner.A car struck her.Even though Louise placed herself in danger,she may still be able to collect for her injuries if the driver had an opportunity to avoid hitting her but failed to do so.This rule is called the
(Multiple Choice)
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The Sarbanes-Oxley Act requires which of the following?
I.Accounting firms auditing a company's books must provide other major services to the firm besides auditing services.
II.The company's Chief Executive Officer (CEO)must swear to the accuracy of quarterly and annual financial reports.
(Multiple Choice)
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Which of the following statements about monetary damages awarded by a court is (are)true?
I.The purpose of general damages is to provide benefits for medical expenses or loss of earnings.
II.The purpose of punitive damages is to punish the tortfeasor so that others are deterred from committing the same wrongful act.
(Multiple Choice)
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Which of the following statements about comparative negligence laws is (are)true?
I.Under the pure rule,any negligence by the plaintiff automatically bars recovery for damages.
II.Under the 50 percent rule,parties who are equally at fault are each allowed to recover damages.
(Multiple Choice)
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Which of the following statements about the legal obligations of a property owner is (are)true?
I.A property owner must inspect the premises for the benefit of an invitee and correct any unsafe conditions.
II.A property owner has the right to set a trap designed to injure a trespasser.
(Multiple Choice)
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