Question 13 of 25 Subrogation implies that... A. the insurer acquires the right to take action...

Question 13 of 25

Subrogation implies that...

A. the insurer acquires the right to take action against the third party.

B. the insured's rights are placed in the insurer's position.

Question 14 of 25

The proximate cause can be described as...

A. events legally caused what result is an extremely difficult legal problem to prove.

B. the active, efficient cause that sets in motion a train of events that brings about the result, the intervention of any force started and working actively from a new and independent source.

C. the active, efficient cause that sets in motion a train of events that brings about the result, without the intervention of any force started and working actively from a new and independent source.

Question 15 of 25

A competent insurer will not insure a risk that they do not understand, or are insurable. The most correct elements of insurable risk are...

A. homogeneous, measurable, accidental, inevitable.

B. homogeneous, measurable, accidental.

C. fortuitous, avoidable, measurable, definitive

Question 16 of 25

Factors limiting the insurability of risk is...

A. premium loadings, moral hazard and adverse selection.

B. underwriting risk, moral hazard and adverse selection

Solutions

Expert Solution

Question	Answer	Explanation
13	a: the insurer acquires the right to take action against the third party	Suppose that an insurer has paid out money to an insured, subrogation enables the insurer to recoup all or some of that money from a third party who caused or contributed to the loss.
14	c: the active, efficient cause that sets in motion a train of events that brings about the result, without the intervention of any force started and working actively from a new and independent source	It is the immediate cause and not the remote cause.
15	c: fortuitous, avoidable, measurable, definitive	Self-explanatory
16	a: premium loadings, moral hazard and adverse selection	Self-explanatory

jeff jeffy answered 3 months ago

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