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CAIB 3 Practice Exam 2024 Questions and Answers.
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CAIB 3 Practice Exam 2024 Questions and Answers.
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CAIB 3 Practice Exam 2024 Questions and AnswersWhat is the name given to the collection of written decisions? - ANS-Case Law
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Explain the concept of the Rule of Precedent. - ANS-Current court decisions must
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follow those made in cases having similar circumstances, which allows the
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development of a logical body of general principles against which specific cases to
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be compared.
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Explain the meaning of the term "damages". - ANS-Compensation in money for the
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loss or damage suffered.
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Compensatory damages for bodily injury are an amalgamation of general and special
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damages, and based on a number of factors which the courts take into account.
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State four factors that influence the determination of
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compensatory damages. - ANS-1. extent of financial support provided by the injured
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mparty to his or her family
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2. social position
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3. reputation
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4. financial circumstances
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5. ability of the plaintiff's legal representative
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Explain the assumption that lies at the centre of the Doctrine of Strict Liability. - ANS-
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Based on the assumption that certain activities are so hazardous that, in the event of
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injury or damage arising out of them, the person conducting the activity shall be
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presumed to be legal liable
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Identify two activities that impose strict liability on the person conducting the activity. -
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mANS-The setting off of explosives , the lighting of fires, the operation of aircraft, the
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mkeeping of a dangerous thing on the premises, such as water in a dam or cistern;
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mgas; electricity; wild animals.
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What is the position of the defendant in a legal action when the law deems the
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defendant strictly liable? - ANS-The defendant has the right to establish a defense
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against an action alleging strict liability.
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What determines if a product is defective? - ANS-A defective product is one that
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contained something that it should not have; or something that should have been
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there was omitted in its manufacture.
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, The Sale of Goods Act sets out the contractual responsibilities of sellers for their
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products. This Statute Law contains a number of implied warranties that form part of
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every contract for the sale of goods.
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Identify one implied warranty which is of significance to sellers of products. - ANS-
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fitness of a business's product(s) for a particular purpose
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The Sale of Goods Act also addresses a buyer's responsibility to exercise care as to
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the suitability and quality of the products purchased.
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State the exception to this general rule. - ANS-When a buyer makes known the
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particular purpose for which the goods are required, and relies on the seller's skill or
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judgment, there is an implied condition that the goods will be reasonably fit for such
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purpose. If they are not, the seller will be liable for damages should injury or
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property damage result from their use.
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Your client, the proprietor of pub, is insured under the Commercial General Liability
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Policy. Indicate whether or not the policy would respond in the following instances.
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State COVERED or NOT COVERED
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The insured entered a claim for the recovery of a $1,000 payment made as a
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goodwill gesture to a customer, a well-known entertainer, who injured himself during
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a fall from a bar stool - ANS-NOT COVERED - REFERENCE: Ch. 2, pg. 4
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Your client, the proprietor of pub, is insured under the Commercial General Liability
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Policy. Indicate whether or not the policy would respond in the following instances.
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State COVERED or NOT COVERED
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The insured had to cancel the booking of the pub for a large private event because a
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ruptured pipe had caused serious water damage to the premises and the restoration
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would not be completed in time. The insured was sued for breach of contract by the
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band that was hired to perform at this event. - ANS-NOT COVERED - REFERENCE:
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Ch. 2, pg. 10
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Your client, the proprietor of pub, is insured under the Commercial General Liability
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Policy. Indicate whether or not the policy would respond in the following instances.
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State COVERED or NOT COVERED
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The insured received a $3,000 bill for a dental procedure from a customer who broke
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a tooth when she bit on a piece of bone in the pizza she had consumed at the pub.
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The customer had informed the server of the incident - ANS-COVERED -
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REFERENCE: Ch. 2, pg. 3, 5
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The Commercial General Liability Policy does not respond to claims against the
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insured for bodily injuries sustained by employees while performing the duties of
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their job.
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