TSI Practice test 2 | Actual Questions and Answers Latest Updated 2024/2025 (Graded A+), Exams of Business and Labour Law

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TSI Practice test 2 | Actual Questions and Answers Latest Updated 2024/

(Graded A+)

Resident Producer License good for? - ✔✔2 years A business income policy protects a business in the event of a loss from what? - ✔✔loss of earnings The insurer paying out a claim fulfills which portion of a contract? - ✔✔consideration Inherent Vice - ✔✔an item is already broken or has a material defect from the manufacturer. Personal Injury under a commercial general liability policy will include which coverage? - ✔✔Contractual Liability A nationwide marine policy will not cover? - ✔✔furniture and fixtures Gramm-Leach-Bliley Act - ✔✔to ensure uniform privacy procedures when handling consumer data Morale Hazard - ✔✔careless or negligent person Extra Expense is a portion of which type of business policy? - ✔✔business income Uninsured Motorist - ✔✔protection against hit-and-run drivers or drivers without insurance money to pay claims Arbitration is: - ✔✔mediation The uncertainty of loss is known as: - ✔✔risk

parties of a bond are known as: - ✔✔principal, obligee,surety. the principal is the purchasor,the surety is the insurance company and the obligee is who the guarantee is made to. representation - ✔✔a statement believed to be true to the best of one's knowledge The business policy that provides for coverage of wrongful termination and sexual discrimination is known as: - ✔✔employment practices liability

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