This topic contains a solution. Click here to go to the answer

Author Question: Which of the following statements about open-perils coverage is (are) true? I. All losses are ... (Read 90 times)

krzymel

  • Hero Member
  • *****
  • Posts: 548
Which of the following statements about open-perils coverage is (are) true? I. All losses are covered except those losses specifically excluded. II. The burden of proof is on the insured to prove that a loss is covered.
 
  A) I only
  B) II only
  C) both I and II
  D) neither I nor II

Question 2

Charles Blake told Wendy that he was an agent for Easy Pay Life Insurance Company. He presented no credentials.
 
  He asked Wendy some questions about her health and activities, and recorded the answers on scrap paper. He collected a 250 cash premium from Wendy. When Wendy did not receive a policy from Easy Pay, she contacted the company. Easy Pay said they do not have an agent named Charles Blake. Easy Pay is not responsible for Wendy's loss of 250 because
  A) the principal is never responsible for the acts of its agents.
  B) there is no presumption of an agency relationship.
  C) limitations can be placed on the powers of agents.
  D) knowledge of the agent is assumed to be knowledge of the principal.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Yixagurpuldink

  • Sr. Member
  • ****
  • Posts: 341
Answer to Question 1

Answer: A

Answer to Question 2

Answer: B





 

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

For a complete list of videos, visit our video library