Exam 2 RM

1.

1 point

What is an estoppel?

2.

1 point

What is treaty insurance?

3.

1 point

What is coinsurance?

4.

1 point

What is the degree of care for an invitee?

5.

1 point

What is the Stower's Doctrine (1928)?

6.

1 point

What is a reciprocal exchange?

7.

1 point

What are mutual insurers?

8.

1 point

What are the 5 basic parts of an insurance contract?

9.

1 point

What are the 5 elements of an enforceable contract?

10.

1 point

What is stock insurance?

11.

1 point

What are the 5 special characteristics of an insurance contract?

12.

1 point

What is an agent?

13.

1 point

What is alteration of product as a product liability defense?

14.

1 point

What is net retention in regards to reinsurance?

15.

1 point

What are the two conditions of respondeat superior?

16.

1 point

What are 5 ways you can improve Corporate Governance?

17.

1 point

What are captive insurers?

18.

1 point

What happens when the owner of a car is not the operator and negligence has occurred? What are the two exceptions?

19.

1 point

What is retrocession?

20.

1 point

What is an appraisal clause?

21.

1 point

What are the two elements of the medical malpractice crisis?

22.

1 point

What are the 3 basic objectives of claim settlement?

23.

1 point

What is reinsurance?

24.

1 point

What are the 4 steps in the claim settlement process?

25.

1 point

What is the only required insurance and why?

26.

1 point

Regarding parents and children's negligence, what is the common law and what is the law today?

27.

1 point

What is the attractive nuisance doctrine?

28.

1 point

What are 4 reasons for reinsurance from the ceding company's perspective?

29.

1 point

What is the parole evidence rule?

30.

1 point

What are the three product liability exposures? (defective ___)

31.

1 point

What are 7 reasons why the tort liability system is defective?

32.

1 point

What is the TX Unfair claims settlement act?

33.

1 point

What is a waiver?

34.

1 point

What are the three defenses of product liability?

35.

1 point

What is a broker?

36.

1 point

What happens if a car owner and operator is negligent?

37.

1 point

What are the 4 types of automatic treaties?

38.

1 point

What are the 3 elements of a covenant not to compete?

39.

1 point

What are risk purchasing groups?

40.

1 point

What are risk retention groups?

41.

1 point

When can government entities be sued for negligence?

42.

1 point

What is facultative reinsurance?

43.

1 point

What are the 7 types of liability risks that businesses have?

44.

1 point

What is the degree of care for a licensee?

45.

1 point

What is the state of the art defense for product liability?

46.

1 point

What are the characteristics of the Lloyd's (of London and American)?

47.

1 point

What are the 10 steps to deal with hazards?

48.

1 point

What are the two types of dispute resolution?

49.

1 point

What is the degree of care for a trespasser?

50.

1 point

What is a ceding company?