Question: Week 2 Chapter 5; Question 5 Name and explain four dimensions of a risk that must be measured by the risk manager. Chapter 6; Question

Week 2

Chapter 5; Question 5

Name and explain four dimensions of a risk that must be measured by the risk manager.

Chapter 6; Question 4

Describe the four parts of a negligence act. Distinguish between the degree of care owed trespassers, licensees, and invitees. What is the justification for different degrees of care? Explain the types of liability hazard to which an FBO is exposed.

Chapter 7; Question 5

What is a representation? How is materiality of a misrepresentation determined? What is a warranty? Give an example of a promissory and affirmative warranty. How are warranties distinguished from representations?

Chapter 8; Question 5

What is the purpose of deductibles? Distinguish between the following deductibles: straight ,franchise, disappearing, and aggregate

Chapter 8; Question 8

What expenses will the company pay in the event of a partial loss repaired by someone other than the insured? By the insured?

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