risk management and insurance very easy 20 short answer question.

1. Whys is term life insurance cheaper than whole or universal life Insurance?
2. What is the basic difference between whole and term life insurance?
3. In the needs approach to determining how much life insurance to buy, name the needs.
4. If I make incorrect statements on my life insurance application that are not determined until 2.5 years later, what happens? Why?
5. What is a tort? What are the three categories of tort?
6. What must be proven for there to be negligence?
7. What is imputed negligence? Name and explain two types?
8. Explain the difference between comparative and contributory negligence. Which is better for the defense.
9. What does it men when we say that a lawyer accepts a lawsuit on a contingency basis?
10. Define
11. What are the 4 major parts of a personal auto policy? Explain what each covers?
12. What are split liability limits? What are the values in Alabama? What does each number represent?
13. What is the difference between primary and excess insurance?
14. Name and explain several exclusions to the liability coverage in a PAP.
15. Explain the difference between basic, broad and special coverage forms.
16. What are the major coverages included in a homeowner’s policy?
17. What is included in personal property?
18. Name 8 types of property that have limits and list the $ limit.
19. Name and explain 5 exclusions to coverage of the dwelling and other structurs in a Homeowner’s policy.
20. Explain concurrent causation, its effect and the most common concurrent causations.

Strict liability (provide example)

Res ipsa loquitir (provide example)

Attractive nuisance (provide example)

You have to write on your own, no copy on any website.