Contract Study guides, Class notes & Summaries

What type of reinsurance contract involves two companies automatically sharing their risk exposure? - Answer Treaty The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called - Answer reserves When third-party ownership is involved, applicants who also happen to be the stated primary beneficiary are required to have - Answer insurable interest Statements made on an insurance application that are beli...

A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a: - Risk retention group Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated? - 1970-Fair Credit Reporting Act Q purchases a $500,000 life insurance policy and pays $900 in premiums over the first six months. Q dies suddenly and the beneficiary is paid $500,000. This exchange of unequal values reflects whi...

Insurance companies (known as Insurers or Carriers) CORRECT ANSWER they manufacture & sell insurance coverage in form of insurance policies or contracts of insurance. Insurance Agencies CORRECT ANSWER are captive or independent organizations that recruit, contract with, train, & support insurance producers. Insurance Producers CORRECT ANSWER are licensed individuals representing & appointed by an insurance company when transacting insurance business. An Insured CORRECT ANSWER person or ...

Promulgated Contract Forms: Final Exam with complete solutions When earnest money is deposited with an escrow agent, the escrow agent: - answerA) Is not responsible for the performance of any signatory B) Has the right to secure written release of all signatories C) Is not liable for interest on the money How does the Texas Real Estate License Act define the first face-to-face meeting with required agency disclosure? - answerWhen a substantive dialogue about a specific real property occur...

Test Bank for Business Law 11e 11th Edition by Henry R. Cheeseman. ISBN-13: 8075 Full chapters test bank in PDF PART I: LEGAL ENVIRONMENT OF BUSINESS AND ONLINE COMMERCE 1. Legal Heritage and theInformation Age 2. Courts and Jurisdiction 3. Judicial, Alternative, and E-Dispute Resolution 4. Constitutional Law for Business and E-Commerce PART II: TORTS, CRIMES, AND INTELLECTUAL PROPERTY 5. Intentional Torts and Negligence 6. Product and Strict Liability 7. Intellectual Property an...

NIGP CPPO Certification Exam 2023/2024 Questions and Answers. Surety - ANSWER a pledge or guarantee by an insurance company, bank, individual or corporation on behalf of a bidder or offeror which protects against default or failure of the principal to satisfy the contractual obligations. accountability - ANSWER The principle that employees who accept an assignment and the authority to carry it out are answerable to a superior or a higher authority for the outcome. acceptance - ANSWER 1. I...

a predetermined limit. Insurance is a method risk is transferred to an insurer for consideration up to 1. spouses in each other 2. parents in their children 3. creditors in their debtors Which of the following would be considered proper establishment of insurable interest in the life insurance area? It is called the mortality rate Which of the following statements about the average number of people who die each year is true? Equal value is not necessarily given by both ...

All the notes taken in lectures for contract law, a lot of the main ideas and elements are listed. U'll need it!!

Business Economics & Public Policy (BEPP) Harvard edx Contract Law FULL Exam - Qs and Answer

Procore Superintendent Certification Questions and Answers Already Graded A True or False: Your Procore login information is the same on both the web and mobile applications. True What can you find in the "My Open Items" section of the Product Dashboard (Home tool)? Items that are currently assigned to you True or False: You can customize the Directory's list view to view and reorganize the information that's most important to you. True Where can you find the project email address that, ...