AIC 303 Successfully Evaluating Claims || 100% Accurate.
Consent to settle clause correct answers An insurance policy provision, usually found only in
professional liability policies, that requires the insurer to obtain consent from the insured before
settling a claim.
Statement correct answers A written or recorded account or declaration of the pertinent facts and
circumstances of an accident given by someone directly involved in or a witness to the accident.
Internet of Things (IoT) correct answers A network of objects that transmit data to computers
Premises liability correct answers The exposure to liability for bodily injury or property damage
due to the ownership, occupancy, or use of the premises.
Attractive nuisance correct answers A dangerous object or condition so captivating to young
children that it entices them onto another's property.
Licensee correct answers A person who has permission to enter onto another's property for his or
her own purposes.
Public invitee correct answers A person invited to enter onto premises as a member of the
general public for a purpose for which the land is open to the public.
Business invitee correct answers An individual who has express or implied permission to be on
the premises of another for the purpose of doing business.
Actual notice correct answers Information that has been directly given to someone.
Constructive notice correct answers Knowledge that a person is assumed by law to have because
that knowledge could be gained by reasonable observation or inspection.
Negligence per se correct answers An act that is considered inherently negligent because of a
violation of a law or an ordinance.
Proximate cause correct answers a cause that, in a natural and continuous sequence unbroken by
any new and independent cause, produces n event and without which the event would not have
happened.
Medical payments coverage correct answers Coverage that pays necessary medical expenses
incurred within a specified period by a claimant (and in certain policies, by an insured) for a
covered injury, regardless of whether the insured was at fault.
Premises security liability correct answers The civil liability of property owners for the
foreseeable criminal acts of third parties.
, Products liability correct answers A manufacturer's or seller's liability for harm suffered by a
buyer, user, or bystander as a result of a product that has a dangerous manufacturing defect or
design defect or that is not accompanied by a warning of an inherent hidden danger.
Negligence correct answers The failure to exercise the degree of care that a reasonable person in
a similar situation would exercise to avoid harming others.
Strict liability (absolute liability) correct answers Liability imposed by a court or by a statute in
the absence of fault when harm results from activities or conditions that are extremely
dangerous, unnatural, ultrahazardous, extraordinary, abnormal, or inappropriate.
Express warranty correct answers An explicit statement about a product by the seller that the
buyer or other user may rely on and that provides a remedy in the event the product does not
perform as claimed.
Implied warranty correct answers An obligation that the courts impose on a seller to warrant
certain facts about a product even though not expressly stated by the seller
Implied warranty of merchantability correct answers An implied warranty that a product is fit for
the ordinary purpose for which it is used.
Uniform Commercial Code (UCC) correct answers A model code that has been adopted in whole
or in part by each state and whose purpose is to provide a consistent legal basis for business
transactions throughout the United States and its territories.
Consideration correct answers Something of value or bargained for and exchanged by the parties
to a contract.
Invasion of privacy correct answers The unauthorized disclosure of private information to
another.
Breach of contract correct answers The failure, without legal excuse, to fulfill a contractual
promise.
Personally identifiable information (PII) correct answers Unique identifying information, such as
name, address, or Social Security number, used separately or in conjunction with other
information, that requires safeguarding and confidentiality.
Class action (class action lawsuit) correct answers A lawsuit in which one person or a small
group of people represent the interests of an entire class of people in litigation.
Mass tort litigation correct answers A class-action suit based on tort law rather than on contract
law.
Bodily injury correct answers Physical injury to a person, including sickness, disease, and death.
Consent to settle clause correct answers An insurance policy provision, usually found only in
professional liability policies, that requires the insurer to obtain consent from the insured before
settling a claim.
Statement correct answers A written or recorded account or declaration of the pertinent facts and
circumstances of an accident given by someone directly involved in or a witness to the accident.
Internet of Things (IoT) correct answers A network of objects that transmit data to computers
Premises liability correct answers The exposure to liability for bodily injury or property damage
due to the ownership, occupancy, or use of the premises.
Attractive nuisance correct answers A dangerous object or condition so captivating to young
children that it entices them onto another's property.
Licensee correct answers A person who has permission to enter onto another's property for his or
her own purposes.
Public invitee correct answers A person invited to enter onto premises as a member of the
general public for a purpose for which the land is open to the public.
Business invitee correct answers An individual who has express or implied permission to be on
the premises of another for the purpose of doing business.
Actual notice correct answers Information that has been directly given to someone.
Constructive notice correct answers Knowledge that a person is assumed by law to have because
that knowledge could be gained by reasonable observation or inspection.
Negligence per se correct answers An act that is considered inherently negligent because of a
violation of a law or an ordinance.
Proximate cause correct answers a cause that, in a natural and continuous sequence unbroken by
any new and independent cause, produces n event and without which the event would not have
happened.
Medical payments coverage correct answers Coverage that pays necessary medical expenses
incurred within a specified period by a claimant (and in certain policies, by an insured) for a
covered injury, regardless of whether the insured was at fault.
Premises security liability correct answers The civil liability of property owners for the
foreseeable criminal acts of third parties.
, Products liability correct answers A manufacturer's or seller's liability for harm suffered by a
buyer, user, or bystander as a result of a product that has a dangerous manufacturing defect or
design defect or that is not accompanied by a warning of an inherent hidden danger.
Negligence correct answers The failure to exercise the degree of care that a reasonable person in
a similar situation would exercise to avoid harming others.
Strict liability (absolute liability) correct answers Liability imposed by a court or by a statute in
the absence of fault when harm results from activities or conditions that are extremely
dangerous, unnatural, ultrahazardous, extraordinary, abnormal, or inappropriate.
Express warranty correct answers An explicit statement about a product by the seller that the
buyer or other user may rely on and that provides a remedy in the event the product does not
perform as claimed.
Implied warranty correct answers An obligation that the courts impose on a seller to warrant
certain facts about a product even though not expressly stated by the seller
Implied warranty of merchantability correct answers An implied warranty that a product is fit for
the ordinary purpose for which it is used.
Uniform Commercial Code (UCC) correct answers A model code that has been adopted in whole
or in part by each state and whose purpose is to provide a consistent legal basis for business
transactions throughout the United States and its territories.
Consideration correct answers Something of value or bargained for and exchanged by the parties
to a contract.
Invasion of privacy correct answers The unauthorized disclosure of private information to
another.
Breach of contract correct answers The failure, without legal excuse, to fulfill a contractual
promise.
Personally identifiable information (PII) correct answers Unique identifying information, such as
name, address, or Social Security number, used separately or in conjunction with other
information, that requires safeguarding and confidentiality.
Class action (class action lawsuit) correct answers A lawsuit in which one person or a small
group of people represent the interests of an entire class of people in litigation.
Mass tort litigation correct answers A class-action suit based on tort law rather than on contract
law.
Bodily injury correct answers Physical injury to a person, including sickness, disease, and death.
