Caib 3 - Study guide questions and Answers.

Caib 3 - Study guide questions and Answers
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CH1 - 9. The Law - Identify the two ways that both criminal and civil laws are
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established - ANS-Common law; Statute law
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CH1 - 16. The Matter of Damages - Identify any three factors that can impact on the
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amount of compensatory damages - ANS-Financial Circumstances; Reputation; Social
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Position
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CH1 - 13. Analyzing Liability Loss Exposures - Identify three instances when a principal
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would be liable for the acts of an independent contractor - ANS-1. When the work being
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contracted is inherently dangerous
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2. When injury or damage results from the contractor's use of defective fixtures,
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machinery or equipment supplied by the principal
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3. When the principal controls the manner in which the work is to be done
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CH1 - 14. Analyzing Liability Loss Exposures - Explain the liability of the building owner
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for 'single occupancy buildings' and the exception to the rule - ANS-Landlords are not
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liable to tenants or their customers for injuries caused by the unsafe condition of the
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premises
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Exception: If the landlord fails to notify the tenant of any dangerous conditions they were
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aware of or ought to have been aware of, that existed at the time the lease was made
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CH1 - 21. Analyzing Liability Loss Exposures - Identify the implied warranty with respect
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to the products of sellers - ANS-The fitness of a business's products for a particular use
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CH2 - 6. IBC 2100 - An Analysis - Identify the three terms contained in the definition of
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Bodily Injury - ANS-1. Bodily injury
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2. Sickness or disease
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3. Death
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CH2 - 7. IBC 2100 - An Analysis - Explain the two key coverages included under the
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definition of Property Damage - ANS-1. Physical injury to tangible property, including all
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resulting loss of use to that property
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2. Loss of use of tangible property that is not physically damaged
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CH2 - 12. IBC 2100 - An Analysis - Define Occurrence - ANS-Means an accident,
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including continuous or repeated exposure to the same general harmful conditions
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