2024 NEWEST LOUISIANA PROPERTY AND CASUALTY INSURANCE EXAM MASTERY: COMPREHENSIVE GUIDE WITH OVER 500 EXPERT QUESTIONS AND DETAILED VERIFIED ANSWERS WITH RATIONALES FOR GUARANTEED SUCCESS

2024 NEWEST LOUISIANA PROPERTY AND CASUALTY INSURANCE EXAM MASTERY: COMPREHENSIVE GUIDE WITH OVER 500 EXPERT QUESTIONS AND DETAILED VERIFIED ANSWERS WITH RATIONALES FOR GUARANTEED SUCCESS Which of the following is NOT an element of negligence? Libel There are four essential elements of negligence: duty, breach, injury, and unbroken chain. Libel is a type of intentional tort. All of the following statements describe the concept of strict liability EXCEPT It is imposed on defendants engaged in hazardous activities. Strict liability is commonly applied in product liability cases. The business is then liable for defective products, regardless of fault or negligence. ABC Trucking hauls products for Acme, Inc. as a contract carrier. On one shipment, the driver stopped at a truck stop for lunch. Leaving the truck in the parking lot, he made certain that the truck was locked before leaving it. Upon returning to the truck, he discovered that someone had broken into the truck and stolen the cargo. Is ABC legally liable for this loss? No, the driver had taken reasonable measures to protect the property by locking the truck. ABC, as a contract carrier, would not be legally liable for this loss. If ABC were operating as a common carrier rather than a contract carrier, it would have been legally liable. An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? $30,000