RMIN 5100S: Exam 3 - CH. 4 (Brown) Q &
As (Verified Answers) 2026
what are the categories of commercial loss exposures? -
Correct Answers ✅property loss, personnel loss, liability
loss, net income loss
property loss - Correct Answers ✅- tangible (real estate,
personal property)
- intangible (patent, copyright)
personnel loss - Correct Answers ✅death, disability,
retirement, of injury of employees
liability loss - Correct Answers ✅your responsibility for
bodily injury, property damage, or financial loss to someone
else
net income loss - Correct Answers ✅reduction in income
due to direct loss
crime - Correct Answers ✅legal wrong against society
punishable by fines, imprisonment, or death
civil wrong - Correct Answers ✅breach of duty owed to
others punishable by damages (money) or injunction
, RMIN 5100S: Exam 3 - CH. 4 (Brown) Q &
As (Verified Answers) 2026
torts - Correct Answers ✅negligence, intentional, strict
liability
contracts - Correct Answers ✅hold-harmless or indemnity
agreements, can be breached
statutes - Correct Answers ✅workers compensation, and
others
true - Correct Answers ✅T/F: most claims covered by
insurance policies are based on torts
negligence - Correct Answers ✅failure to exercise the
degree of care that a reasonable person in a similar situation
would exercise to avoid harming others
duty owed, breach of that duty, damage or injury, proximate
cause - Correct Answers ✅negligence is based on:
res ipsa loquitur - Correct Answers ✅"the thing speaks for
itself"
- could not have occurred without negligence
- defendant had exclusive control
As (Verified Answers) 2026
what are the categories of commercial loss exposures? -
Correct Answers ✅property loss, personnel loss, liability
loss, net income loss
property loss - Correct Answers ✅- tangible (real estate,
personal property)
- intangible (patent, copyright)
personnel loss - Correct Answers ✅death, disability,
retirement, of injury of employees
liability loss - Correct Answers ✅your responsibility for
bodily injury, property damage, or financial loss to someone
else
net income loss - Correct Answers ✅reduction in income
due to direct loss
crime - Correct Answers ✅legal wrong against society
punishable by fines, imprisonment, or death
civil wrong - Correct Answers ✅breach of duty owed to
others punishable by damages (money) or injunction
, RMIN 5100S: Exam 3 - CH. 4 (Brown) Q &
As (Verified Answers) 2026
torts - Correct Answers ✅negligence, intentional, strict
liability
contracts - Correct Answers ✅hold-harmless or indemnity
agreements, can be breached
statutes - Correct Answers ✅workers compensation, and
others
true - Correct Answers ✅T/F: most claims covered by
insurance policies are based on torts
negligence - Correct Answers ✅failure to exercise the
degree of care that a reasonable person in a similar situation
would exercise to avoid harming others
duty owed, breach of that duty, damage or injury, proximate
cause - Correct Answers ✅negligence is based on:
res ipsa loquitur - Correct Answers ✅"the thing speaks for
itself"
- could not have occurred without negligence
- defendant had exclusive control
