Bailee for hire Study guides, Class notes & Summaries

Personal Lines Insurance Practice Exam Questions and Answers Latest | 100% Correct. Bobby, age 16, borrows his parents' car without their permission and gets into an accident. Which of the following statements about coverage under the parents' personal auto policy is CORRECT? A) Bobby is covered by his parents' policy because he is included in the definition of named insured. B) Bobby is not covered for this accident because he used the car without permission. C) Bobby is not covered ...

Three Main Categories Of Risk - Anawer1) Personal Risk 2)Property Risk 3)Liability Risk What are the FIVE elements of a contract? A) Agreement, Risk, Loss, Consideration, Legality B) Legal Capacity, Legality of Object, Consideration, Agreement, Genuine Intention C) Agreement, Legal Capacity, Risk, Loss, Consideration. D) None of the above - AnawerB) Legal Capacity, Legality of Object, Consideration, Agreement, Genuine Intention What is needed for an agreement to exist? - Anaw...

Fundamentals of Insurance - Practice Exam Questions With 100% Correct Answers Three Main Categories Of Risk - answer1) Personal Risk 2)Property Risk 3)Liability Risk What are the FIVE elements of a contract? A) Agreement, Risk, Loss, Consideration, Legality B) Legal Capacity, Legality of Object, Consideration, Agreement, Genuine Intention C) Agreement, Legal Capacity, Risk, Loss, Consideration. D) None of the above - answerB) Legal Capacity, Legality of Object, Consideration, Agreement...

Fundamentals of Insurance - Practice Exam Questions With 100% Correct Answers Three Main Categories Of Risk - answer1) Personal Risk 2)Property Risk 3)Liability Risk What are the FIVE elements of a contract? A) Agreement, Risk, Loss, Consideration, Legality B) Legal Capacity, Legality of Object, Consideration, Agreement, Genuine Intention C) Agreement, Legal Capacity, Risk, Loss, Consideration. D) None of the above - answerB) Legal Capacity, Legality of Object, Consideration, Agreement...

CAIB 2 Final Exam Practice Test Questions & Answers 2024 Define Loading - ANS-Additional rate charged over and above the fire rate. Define common carrier - ANS-Includes airline, railroads, trucking companies, and others that furnish transportation to any member of the public seeking their services. Define "Bailee for Hire" - ANS-One who has temporary custody of the personal property of another for a purpose other than sale and who is compensated as a condition of such custody. Define d...

Define Loading - ANSWERAdditional rate charged over and above the fire rate. Define common carrier - ANSWERIncludes airline, railroads, trucking companies, and others that furnish transportation to any member of the public seeking their services. Define "Bailee for Hire" - ANSWEROne who has temporary custody of the personal property of another for a purpose other than sale and who is compensated as a condition of such custody. Define discovery period. - ANSWERTime permitted by an insu...

Define Loading - ANSWERAdditional rate charged over and above the fire rate. Define common carrier - ANSWERIncludes airline, railroads, trucking companies, and others that furnish transportation to any member of the public seeking their services. Define contributing property - ANSWERManufacturer or supplier upon whom the insured depends for materials or goods. All of the following characteristics except one, are common to Boiler and Machinery policies. Pick the exception. A) insur...

PSI PROPERTY AND CASUALTY EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED 2024 LATEST UPDATE Property Insurance Basics All of the following may be listed as an insured on a property policy, except: A . mortgagee listed as an additional insured B. The policyowner C. A business with temporary custody of the insured property D. A named insured's legal representative C under no benefit to bailee remember 3 C's, care,custody, control of an insured's property does NOT benefit from claim...

Define Bailee for Hire. correct answersPerson or organization who has temporary custody of the personal property of another for a purpose other than sale and who is compensated as a condition of such custody Identify three types of Bailees and provide an example of each. correct answersi) Repair of personal property example: Television repair shop ii) Storage of personal property example: Public storage warehouse iii) Delivery of personal property example: Courier service Define Ordi...

CAIB 2 Chapter 5 Practice Test 1 Questions and Answers (2024/2025)(Verified Answers) Define Bailee for Hire. Person or organization who has temporary custody of the personal property of another for a purpose other than sale and who is compensated as a condition of such custody Identify three types of Bailees and provide an example of each. i) Repair of personal property example: Television repair shop ii) Storage of personal property example: Public storage warehouse iii) Delivery o...