Contractual risks - Study guides, Class notes & Summaries

RMIN 5100S Exam 1 - UGA, Brown Questions and Answers | Latest Update | 2024/2025 | Already Passed What is the function of a risk register? A risk register is a tool used to document and track identified risks, their potential impacts, and the measures taken to manage them. What does risk prioritization involve? Risk prioritization involves ranking risks based on their potential impact and likelihood to focus resources on the most critical risks. What is risk acceptance in risk...

Mutually owned co-operative financial institutions offering benefits to members through a trust-like structure" describes which type of Insurer/Fund Manager? - Answer- Friendly Society Which is the decision-making process of framing? - Answer- To remove the 'noise' from an issue to allow us to see the problem for what it is Under the RG271 what is the maximum timeframes for IDR response for a Superannuation trustee complaints? - Answer- 45 days after receiving the complaint In the se...

Arizona Life Insurance Exam Questions and Answers (Latest Update 2023) Verified Answers a whole life policy that provides a choice of dividend options include the following statement about dividends they accrue at a guaranteed rate they are deferred for one year they are not guaranteed they are guaranteed after the first year - Correct Answers they are not guaranteed When there is a named beneficiary on a life insurance policy, the death benefits 1. are directed to a trustee ...

Admitted Insurance Company vs. Non-Admitted Insurance Company - CORRECT ANSWER-An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with California requirements or did not seek admission Pure Risk vs. Speculative Risk - CORRECT ANSWER-Pure risks are in...

A CM's role & responsibility are governed solely by the Owner/CM Agreement? - Answer False There are two basic forms of CM, Agency and At-Risk. Each form provides for the basic services of CM Practice. However, there are some key differences. Which of the following DO NOT apply to BOTH CM forms? - Answer A. Both forms provide advise to the Owner on constructibility, budget and schedule. B. Both require that the liabilities and risks assumed by the parties be clearly understood and sta...

Admitted Insurance Company vs. Non-Admitted Insurance Company - Answer An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with California requirements or did not seek admission Pure Risk vs. Speculative Risk - Answer Pure risks are insurable but...

Admitted Insurance Company vs. Non-Admitted Insurance Company - CORRECT ANSWER An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with California requirements or did not seek admission Pure Risk vs. Speculative Risk - CORRECT ANSWER Pure r...

CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) 2024 Admitted Insurance Company vs. Non-Admitted Insurance Company -Answer-An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with California requirements or did not seek admission...

CMIT Exam (200 Multiple Choice) Questions and Answers 100% Correct CMIT Exam (200 Multiple Choice) Questions and Answers 100% Correct CMIT Exam (200 Multiple Choice) Questions and Answers 100% Correct A CM's role and responsibilities are governed solely by the Owner/CM Agreement. True False - ANSWER-True There are two basic forms of CM, agency and at-risk. Each form provides for the basic services of construction management practice. However, there are some key differences. Which o...

The possible approaches for delivering a project are virtually unlimited. A key reason for such variations is: a. The different roles that can be assumed by project participants. b. Different forms of contracts and methods of compensation that can be used. c. The different levels of care, responsibility, and risks assumed by the parties involved. d. All of the above. - Answer-d. All of the above. The traditional delivery system is characterized by executing the major phases of...