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AIC 301 Study Guide NEWEST 2025/2026 ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!!

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AIC 301 Study Guide NEWEST 2025/2026 ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!!

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AIC 301 Study Guide

"but for" rule - ANS-a rule used to determine whether a defendant's act was the primary cause
of a plaintiff's harm based on the determination that the plaintiff's harm could not have occurred
but for the defendant's act
"clean hands" - ANS-insureds must come to court with "___________ ____________" when
trying to assert estoppel
"fair use" - ANS-educational purposes such as teaching, research, criticism, comment, etc.
$50 - ANS-buyer's liability is generally limited to $_______ if the card is lost or stolen and card
owner reports the loss within two business days
1-3 years - ANS-length of statute of limitations for medical malpractices
1) 4th amendment
2) 5th amendment - ANS-2 amendments limiting agency investigations
1) adverse party must have exclusive possession of the property and occupy it in the usual way
2) possession must be open and obvious
3) possession must be without the owner's permission
4) possession must be continuous for a statutory time span - ANS-4 elements of adverse
possession
1) adverse possession
2) rights under, above, and on the land's surface
3) rights to lateral and sub adjacent support
4) water rights
5) ownership of fixtures - ANS-5 incidental real property rights
1) affirmative
2) continuing (promissory)
3) implied - ANS-3 classifications of warranties
1) agency has issued a final order
2) doctrine of exhaustion of administrative remedies has been satisfied - ANS-2 requirements
for judicial review
1) agreement
2) capacity
3) mutual assent
4) consideration
5) legal purpose
6) form required by law - ANS-6 elements of a legally binding contract
1) agreement
2) capacity to contract
3) consideration
4) legal purpose - ANS-4 elements of a legally enforceable contract
1) agreement
2) policy content

,3) delivery - ANS-3 characteristics of a binding insurance contract
1) agreement by the parties to associate for a business activity
2) profits and losses shared by each party
3) joint control of the venture by the parties
4) contribution to the venture's assets by each party - ANS-4 things a plaintiff must prove in joint
ventures
1) alienation of affection
2) loss of consortium
3) personal injury - ANS-3 categories of spouses' rights
1) arbitration
2) mediation
3) negotiation - ANS-3 types of ADRs
1) article cannot be removed without substantial injury to the realty
2) article is specially constructed or fitted for use in a building
3) the party attaching the item intends for it to become part of the land or building - ANS-3 tests
to determine if something is a fixture
1) assignment of a contract
2) third-party beneficiary contracts - ANS-2 situations where third-parties have enforceable
rights under contracts others have made
1) battery
2) assault
3) false imprisonment/false arrest
4) intentional infliction of emotional distress
5) defamation
6) invasion of right of privacy - ANS-6 types of intentional torts
1) carry out the parties' assumed intention
2) achieve certainty and finality to the parties' rights & duties
3) exclude fraudulent & perjured claims - ANS-3 purposes that Parol Evidence Rule serves
1) cease-and-desist orders issued to violating parties
2) industry trade-practice conferences to devise rules for false/misleading advertising
3) informal settlements and consent orders to settle cases from unintentional violations of the
act - ANS-3 ways FTC Act takes action against unfair/deceptive practices
1) certain tax claims
2) money, property, or services obtained by fraud
3) claims for willful and malicious injury to people or property
4) alimony or support
5) most education loans
6) debts occurred in court actions arising from drunk driving - ANS-6 debts that bankruptcy does
NOT discharge
1) change in law
2) death or incapacitation
3) destruction of subject matter
4) prevention of completion by one party - ANS-4 circumstances that make performance of
contract impossible

,1) comparative advertising
2) product disparagement/trade libel - ANS-2 types of defamatory commercial speech
1) comparative negligence
2) releases & exculpatory clauses
3) immunity
4) statutes of limitation and repose
5) tortfeasor's capacity - ANS-5 defenses against negligence claims
1) compensatory damages
2) punitive damages - ANS-2 types of damages in tort suits
1) concentrating the flow of water discharges on to adjoining land
2) permitting artificial devices to discharge over public ways
3) creating any other artificial condition that discharges water or snow on adjoining premises -
ANS-3 examples of alterations
1) condition precedent
2) condition concurrent
3) condition subsequent - ANS-3 types of contractual conditions
1) conditional contract
2) contract involving fortuitous events & exchange of unequal amounts
3) contract of utmost good faith
4) contract of adhesion
5) contract of indemnity
6) nontransferable contract - ANS-6 special characteristics of insurance contracts
1) consideration
2) knowledge requirement
3) policy provisions
4) acts constituting waiver
5) parol evidence rule - ANS-5 key concepts related to waivers
1) consignor
2) consignee
3) carrier - ANS-3 parties to a bill of lading
1) contract for the transportation of goods
2) receipt of goods by the carrier for delivery
3) a title to the goods - ANS-3 purposes of bill of lading
1) contract is executory & bilateral, entailing mutual and dependent conditions
2) promisor has made a clear expression of their intention not to perform - ANS-2 requirements
to sue with anticipatory breach
1) contractual provision can be interpreted in more than one way
2) meaning of a provision cannot be determined - ANS-2 forms of ambiguity in contract law
1) created by the bailee as receipt for goods received
2) a contract to ship or store the goods
3) contains a statement that the holder has the right to receive, hold, and dispose of both the
goods and document of title - ANS-3 elements needed for a document to be considered a title
1) credit or insurance primarily for personal, family, or household purposes
2) employment

, 3) a business transaction for personal, family, or household purposes involving the consumer -
ANS-3 things consumer reports are created to establish
1) creditor beneficiaries
2) donee beneficiaries
3) incidental beneficiaries - ANS-3 types of beneficiaries from third-party contracts
1) debtor
2) creditors
3) trustee
4) bankruptcy judge
5) attorneys for the debtor, creditor, or trustee - ANS-5 parties to a federal bankruptcy
proceeding
1) defect in manufacture or assembly
2) defect in design
3) manufacturer's failure to adequately warn of a products inherent danger - ANS-3 types of
product defects that can lead to liability suits
1) defendant actually intended to cause harm
2) defendant acted oppressively, maliciously, or fraudulently - ANS-2 situations where court can
award punitive damages
1) degree of danger
2) knowledge of danger
3) foreseeability of dangerous use - ANS-3 factors a manufacturer should consider if warning is
necessary
1) denying interfering with/preventing employment
2) not including breach of contract
3) not harming the plaintiff
4) not acting to advance an illegal element of a contract, agreement, or arrangement
5) not using illegal means to get the plaintiff discharged
6) not blacklisting the plaintiff - ANS-6 defenses to interference with employment
1) disparaging statement was true
2) retraction was made
3) statement had absolute privilege
4) statement had conditional or qualified privilege - ANS-4 defenses against injurious falsehood
claims
1) doctrine of res judicata (claim preclusion)
2) collateral estoppel (issue preclusion) - ANS-2 doctrines to prevent relitigation
1) donative intent
2) delivery
3) acceptance - ANS-3 elements of a gift
1) economy
2) quicker resolutions and less hostility between parties
3) some degree of privacy - ANS-3 advantages of settling disputes outside of court
1) elements of negligence
2) required proof of negligence - ANS-2 aspects of negligence claims
1) enterprise liability

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