QUESTION 11 Professionals such as doctors, lawyers, and accountants often purcha

Question

QUESTION 11

Professionals such as doctors, lawyers, and accountants often purchase _____ insurance to protect themselves against claims made by disgruntled patients or clients.

disability

health

term

malpractice

whole-life

2 points   

QUESTION 12

In the case of life insurance taken on someone else's life, who must have an insurable interest in the subject matter?

the beneficiary

the grantor

the assured

the insurer

the insured

2 points   

QUESTION 13

A landlord will be liable even if he has no duty to repair but negligently makes repairs that themselves turn out to be dangerous.

True

False

2 points   

QUESTION 14

The exclusion of implied warranties in general states that _____.

the buyer who has neither examined, nor refused to examine the goods before entering into the contract, may not assert an implied warranty concerning defects an inspection would have revealed

the Uniform Commercial Code does not permit the seller to disclaim, or modify the implied warranty of merchantability, as long as the statement actually mentions "merchantability"

for an implied warranty or merchantability, the disclaimer need not be in writing

for an implied warranty of fitness, the disclaimer need not be in writing

the Uniform Commercial Code does not permit the seller to disclaim, or modify as implied warranty of fitness

2 points   

QUESTION 15

A _____ is any document that evidences the receipt of goods for shipment issued by a person engaged in the business of transporting or forwarding goods.

waybill

letter of credit

packing list

delivery order

bill of lading

disability

health

term

malpractice

whole-life

Explanation / Answer

Question 11: Malpractice Insurance

Malpractice insurance is a type of professional liability insurance purchased by healthcare professionals

Question 12: The beneficiary

The beneficiary needs to have the insurable interest in the subject matter

Question 13: True

It is the responsibility of the landlord to provide the house in a good working condition. So he is still liable even when he makes negligent repairs

Question14: for an implied warranty or merchantability, the disclaimer need not be in writing

Question15: Delivery Order

It is a document from a consignee, or an owner or his agent of freight carrier which orders the release of the transportation of cargo to another party.

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