Heather and Jeff had the roof blown off their home during a recent storm.
Which one of the following best expresses the financial outcome they are
currently experiencing?
A. No change in their financial outcome
B. Increased expenses
C. Lost income
D. Reduction in property value
Ans- D. Red...
AINS102 Practice Exam Questions and Answers Heather and Jeff had the roof blown off their home during a recent storm. Which one of the following best expresses the financial outcome they are currently experiencing? A. No change in their financial outcome B. Increased expenses C. Lost income D. Reduction in property value Ans- D. Reduction in property value All of the following are considered personal property, EXCEPT: A. Cherry tree B. Antique piano C. Revolver D. Patent Ans- A. Cherry tree SF Poultry learned that a numbe r of individuals had become ill and hospitalized after eating chicken from one of its processing plants. The company did not advise the public or its distributors of the problem, and made no effort to recall the spoiled product. Over 50 individuals ended -up becoming ill from the spoiled chicken. SF Poultry was found liable in court. In addition to having to pay the medical and hospital bills for the injured individuals, damages were levied against SF Poultry to punish the company for its reckless and deceit ful actions. These damages that were levied against SF Poultry are known as A. Punitive damages. B. Necessary damages. C. Special damages. D. General damages Ans- A. Punitive damages. Punitive damages are meant to punish a defendant for reckless, malicious, or deceitful acts and need not bear any relation to the party's actual damages. Sophie was involved in an auto accident with another vehicle. The driver of the other vehicle was ser iously injured. The individual spent 10 days in the hospital, missed 2 months of work, and continues to experience mental distress. The other vehicle was also damaged, with repair costs of $5,000. It was determined that Sophie was liable for the damages be cause she ran a red light and caused the accident. Which one of the following damages would be considered general damages? A. Damages to the vehicle B. Mental distress compensation C. Two months of lost wages D. Hospital and medical bills Ans- B. Ment al distress compensation General damages, also called direct or necessary damages, are often presumed when special damages are proven. General damages can include compensation for pain and suffering, future effect of disfigurement, loss of a limb, sight, or hearing, as well as emotional distress. Which one of the following is considered a high -risk driver? A. Mark was caught and convicted of driving under the influence of alcohol. B. Stacey was involved in a deadly car accident. C. Martin can only qualif y for the most expensive auto insurance. D. Cyndy cannot obtain insurance from a private insurer. Ans- A. Mark was caught and convicted of driving under the influence of alcohol. States A, B, C, and D have addressed the problem of compensating auto accident victims differently. Which one of the following most accurately describes the way that states are handling this issue?
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