WebCE Exam Questions and Answers with
Verified Solutions | Latest Updated 2026
Julia and her family own a large retention
manufacturing business. She
convinced her family to set aside
funds for a self-insurance program
instead of buying a commercial
insurance policy. This would be
considered what form of risk
management?
A party to a contract may not estoppel
enforce a right it has voluntarily
waived by its past conduct. This is
known as
Jason repairs a broken stair on his prevention
front porch so that it is less likely
people will trip and fall down the
stairs and injure themselves. What
measure has he taken to manage
this risk?
,Kent stated on his application for misrepresentation
property insurance that the roof of
the building being insured had
been recently replaced. In fact,
the replacement occurred 12
years ago. Kent made a false
statement of a material fact, which
is also known as a(n)
Ed, a prospect for property Yes, Ed made an offer that the insurer
insurance, completes the accepted.
insurance application with the
help of Michael, an agent. Ed
gives Michael a check for the six
month premium. The application
and premium payment are sent to
the insurance company, which
deposits the premium. Has a legal
contract formed?
Kyle owns an eighteen-wheeler trucker
and transports property for
customers who enter into a
contract with him. He charges a
fee for these services. What term
BEST describes Kyle?
, Lily is the only person in the office burglary
one night. She hears a loud crash
and a man with a ski mask enters
after kicking in the back door,
which was locked. The man locks
Lily in the bathroom and steals
money and office equipment.
What term best describes the
crime the man committed?
Monument Farms Grocery submits It denies the claim under the Inventory
a claim under its commercial Shortages exclusion
crime policy because several
items of stock are missing. How
does the policy respond?
Allison works in a boutique in The state with the higher benefits
Ohio, which is the company's
principal business location and
home state. She occasionally
works in a branch store in
Kentucky for several weeks at a
time. During one of her visits to
Kentucky, she is injured on the
job.
Assume Ohio's workers
compensation law has a 6-month
time limit on coverage for out-of-
state injuries. She files a claim
three months after the injury.
Under which state's law is she
entitled to collect workers
compensation benefits?
Verified Solutions | Latest Updated 2026
Julia and her family own a large retention
manufacturing business. She
convinced her family to set aside
funds for a self-insurance program
instead of buying a commercial
insurance policy. This would be
considered what form of risk
management?
A party to a contract may not estoppel
enforce a right it has voluntarily
waived by its past conduct. This is
known as
Jason repairs a broken stair on his prevention
front porch so that it is less likely
people will trip and fall down the
stairs and injure themselves. What
measure has he taken to manage
this risk?
,Kent stated on his application for misrepresentation
property insurance that the roof of
the building being insured had
been recently replaced. In fact,
the replacement occurred 12
years ago. Kent made a false
statement of a material fact, which
is also known as a(n)
Ed, a prospect for property Yes, Ed made an offer that the insurer
insurance, completes the accepted.
insurance application with the
help of Michael, an agent. Ed
gives Michael a check for the six
month premium. The application
and premium payment are sent to
the insurance company, which
deposits the premium. Has a legal
contract formed?
Kyle owns an eighteen-wheeler trucker
and transports property for
customers who enter into a
contract with him. He charges a
fee for these services. What term
BEST describes Kyle?
, Lily is the only person in the office burglary
one night. She hears a loud crash
and a man with a ski mask enters
after kicking in the back door,
which was locked. The man locks
Lily in the bathroom and steals
money and office equipment.
What term best describes the
crime the man committed?
Monument Farms Grocery submits It denies the claim under the Inventory
a claim under its commercial Shortages exclusion
crime policy because several
items of stock are missing. How
does the policy respond?
Allison works in a boutique in The state with the higher benefits
Ohio, which is the company's
principal business location and
home state. She occasionally
works in a branch store in
Kentucky for several weeks at a
time. During one of her visits to
Kentucky, she is injured on the
job.
Assume Ohio's workers
compensation law has a 6-month
time limit on coverage for out-of-
state injuries. She files a claim
three months after the injury.
Under which state's law is she
entitled to collect workers
compensation benefits?
