Owners face a number versus one undertaking a construction project. These risks can
often be illuminated for proper bonding.
Owners of the most projects will normally require that a general contractor provide
them with certain contract bonds. On the other hand, the general contractor may
decide not to require its subcontractors to provide similar bonds. Identify three
factors which may be considered by the general contractor and deciding whether to
require the bonding of subcontractors used on the project
Give this one a try later!
Terms of the contract
Relationship between contractor and subcontractor
Value of subcontract
subcontractors price in relation to other bidders
What's your organization's loss exposures have been identified and analyzed, risk
manager must formulate the best combination of techniques for dealing with each
,exposure. One technique to be considered instead of risk financing.
A. Retention can be used as a risk financing technique. Identify three sources of
funding when retention is used as a financing techniques
B. Retention is a risk financing technique may be forced upon by the organization.
Provide two examples of forced retention.
C. Optional retention can also be used as a risk financing technique. What single
factor would cause an organization to choose to Finance certain losses in this way
Give this one a try later!
A. Unfunded reserves, funded reserves, borrowed funds
B. I. Loss is resulting from certain uninsurable perils
II. Amount required as deductibles
C. The cost
Before last reduction measures can be implemented, the risk manager must first
assume that a loss has occurred. The next step The development of pre-loss and post
loss measures. Explain the purpose of these measures.
Give this one a try later!
I. Pre-lost measures - intended to reduce the amount of property, the
number of persons, or other things of value that may suffer loss from a
single event next line
II. Post loss measures - typically focus on emergency procedures, so which
operations, rehabilitation activities, or legal defences to hold the spread of
loss or counter it's effects
Financial responsibility lies and act in each of the common law provinces require that
owners of automobiles be able to establish their ability to pay losses up to a certain
minimum dollar limit. The minimum legislated limits of third-party liability coverage
required to be carried by automobiles and the private passenger type in each of the
common all provinces is:
,A. 50,000
B. 100,000
C. 200,000
D. 250,000
Give this one a try later!
C. 200,000
Insured to making frequent oversee shipment would be well advised to purchase
ocean marine cargo coverage under an open policy.
A. Identify three characteristics of open policy is used to ensure ocean cargo
shipment
B. Placing an accurate value on ocean marine cargo is not always easy. Identify three
values of cost which might be considered in arriving at the amount of insurance to be
purchased.
Give this one a try later!
A. Premium rate stated on the policy
Can be issued with no expiry date
Sums insured are not stated
B. Value of the cargo
Duties and taxes
Shipping costs or fruit
Your clients are tenants in a small commercial mall. The value of the building is
1,500,000. How much tenants legal liability coverage would you recommend they
purchase?
Give this one a try later!
, Amount required is that necessary to replace that portion of the building
which is occupied by them
Contracts of suretyship are not insurance contracts, and indeed, there are many
Differences between them. All of the following statements regarding suretyship
bonds are true, except one. Pick the exception
A. Our two party contracts next
B. Must be in writing
C. Does not anticipate losses occurring
D. Or of indeterminant length and non-cancelable
Give this one a try later!
A. Are two party contracts
A. The decision made in the Donahue versus Stevens case the snail in the bottle case
changed consumer law. What is the result of that decision
B. Sellers may often sell a wide variety of goods, some of which they may know little
about. What level of knowledge does the lock SPECT sellers to have concerning the
goods sold by them
C. What main duty has been imposed by Laar upon the sellers of products
Give this one a try later!
A. Extended the right of users of defective products to sue Manufacturers
for their negligence
B. To be experts when it comes to the ingredients and properties of the
products they sell
C. To tell the truth about them
often be illuminated for proper bonding.
Owners of the most projects will normally require that a general contractor provide
them with certain contract bonds. On the other hand, the general contractor may
decide not to require its subcontractors to provide similar bonds. Identify three
factors which may be considered by the general contractor and deciding whether to
require the bonding of subcontractors used on the project
Give this one a try later!
Terms of the contract
Relationship between contractor and subcontractor
Value of subcontract
subcontractors price in relation to other bidders
What's your organization's loss exposures have been identified and analyzed, risk
manager must formulate the best combination of techniques for dealing with each
,exposure. One technique to be considered instead of risk financing.
A. Retention can be used as a risk financing technique. Identify three sources of
funding when retention is used as a financing techniques
B. Retention is a risk financing technique may be forced upon by the organization.
Provide two examples of forced retention.
C. Optional retention can also be used as a risk financing technique. What single
factor would cause an organization to choose to Finance certain losses in this way
Give this one a try later!
A. Unfunded reserves, funded reserves, borrowed funds
B. I. Loss is resulting from certain uninsurable perils
II. Amount required as deductibles
C. The cost
Before last reduction measures can be implemented, the risk manager must first
assume that a loss has occurred. The next step The development of pre-loss and post
loss measures. Explain the purpose of these measures.
Give this one a try later!
I. Pre-lost measures - intended to reduce the amount of property, the
number of persons, or other things of value that may suffer loss from a
single event next line
II. Post loss measures - typically focus on emergency procedures, so which
operations, rehabilitation activities, or legal defences to hold the spread of
loss or counter it's effects
Financial responsibility lies and act in each of the common law provinces require that
owners of automobiles be able to establish their ability to pay losses up to a certain
minimum dollar limit. The minimum legislated limits of third-party liability coverage
required to be carried by automobiles and the private passenger type in each of the
common all provinces is:
,A. 50,000
B. 100,000
C. 200,000
D. 250,000
Give this one a try later!
C. 200,000
Insured to making frequent oversee shipment would be well advised to purchase
ocean marine cargo coverage under an open policy.
A. Identify three characteristics of open policy is used to ensure ocean cargo
shipment
B. Placing an accurate value on ocean marine cargo is not always easy. Identify three
values of cost which might be considered in arriving at the amount of insurance to be
purchased.
Give this one a try later!
A. Premium rate stated on the policy
Can be issued with no expiry date
Sums insured are not stated
B. Value of the cargo
Duties and taxes
Shipping costs or fruit
Your clients are tenants in a small commercial mall. The value of the building is
1,500,000. How much tenants legal liability coverage would you recommend they
purchase?
Give this one a try later!
, Amount required is that necessary to replace that portion of the building
which is occupied by them
Contracts of suretyship are not insurance contracts, and indeed, there are many
Differences between them. All of the following statements regarding suretyship
bonds are true, except one. Pick the exception
A. Our two party contracts next
B. Must be in writing
C. Does not anticipate losses occurring
D. Or of indeterminant length and non-cancelable
Give this one a try later!
A. Are two party contracts
A. The decision made in the Donahue versus Stevens case the snail in the bottle case
changed consumer law. What is the result of that decision
B. Sellers may often sell a wide variety of goods, some of which they may know little
about. What level of knowledge does the lock SPECT sellers to have concerning the
goods sold by them
C. What main duty has been imposed by Laar upon the sellers of products
Give this one a try later!
A. Extended the right of users of defective products to sue Manufacturers
for their negligence
B. To be experts when it comes to the ingredients and properties of the
products they sell
C. To tell the truth about them
