ADB Exam Questions and Correct
Answers
aggregate limit - Answer-the amount payable for all claims in a single policy period
contingent liability - Answer-when a business is held legally liable for the actions, or failures to act, of
other parties such as subcontractors
tort law - Answer-injuries suffered by one party as a result of another party's actions or negligence
when there is no contract
occurrence - Answer-event that results in an insured loss becasue of a continued and repeated
exposure
insuring agreement - Answer-describes the perils insured against
contract of adhesion - Answer-contract between two parties that doesn't allow for negotiation
monoline policy - Answer-contains a single line of coverage
Answers
aggregate limit - Answer-the amount payable for all claims in a single policy period
contingent liability - Answer-when a business is held legally liable for the actions, or failures to act, of
other parties such as subcontractors
tort law - Answer-injuries suffered by one party as a result of another party's actions or negligence
when there is no contract
occurrence - Answer-event that results in an insured loss becasue of a continued and repeated
exposure
insuring agreement - Answer-describes the perils insured against
contract of adhesion - Answer-contract between two parties that doesn't allow for negotiation
monoline policy - Answer-contains a single line of coverage
