FINA 4357 EXAM I with correct answers 100% 2026

FINA 4357 EXAM I with correct answers 100% 2026 Negligence - Correct Answer Failure to exercise the degree of care that a reasonable person in a similar situation would do to avoid harming others 4 Elements of Negligence - Correct Answer 1. Legal duty owed 2. Legal duty breached 3. Actual damages resulted 4. Proximate/close connection between defendant's actions and the plaintiff's injuries Defense Against Negligence Claims - Correct Answer - Refute one (or more) element(s) - Contribution/comparative negligence - Assumption of risk - Statute of limitations - Immunities Contractual liability - Correct Answer Company agrees to pay for the negligent act of another party Assumed through Hold harmless When a company names and another party as an "additional insured" under their policy, that party can use the policy with all the same rights the company has. - Correct Answer To be fully protected, Company would ask other party to give you a hold harmless agreement and make you an additional insured under their insurance policies. Coverage territory - Correct Answer The United States, its territories, Puerto Rico, Canada Intentional act exclusion - Correct Answer The "end result" must have been a conscious objective of the insured Bodily injury or property damage must be expected or intended from the standpoint of the insured Contractual liability exclusion - Correct Answer Gives the insured coverage for assuming responsibility for another person's negligence that results in bodily injury or property damage Liquor liability exclusion - Correct Answer Only applies to companies in the business of selling alcohol Auto or CGL?: Damage caused by the truck being operated as a vehicle - Correct Answer Auto Auto or CGL?: piece of mobile equipment or cargo is being hauled by a truck and it falls off the truck - Correct Answer Auto Auto or CGL?: damage caused by the use of the mobile equipment - Correct Answer CGL CGL Will pay for bodily injury or property damage caused by the use of vehicles, Aircraft, watercraft if: - Correct Answer - use of a non-owned watercraft less than 26 feet in length - injury or damage caused by valet parking services on your property Will CGL pay for: damage caused by a fire to a space you're renting and damage caused by any source to any space you rent for seven days or less? - Correct Answer Yes Will CGL pay for: damages you do directly to your own property? - Correct Answer No Will CGL pay for: damages you do directly to property loaned to you? - Correct Answer No Will CGL pay for: damages you do directly to property you have control/custody of? - Correct Answer No Will CGL pay for: damages you do directly to that particular part of any property you are working on? - Correct Answer No Will CGL pay for: Damage done to your product (if liable for product liability) - Correct Answer No