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Insurance and Bonds

Authored by Eileen Pesantes

Professional Development

University

Used 20+ times

Insurance and Bonds
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28 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is absolutely liable under Worker's Compensation laws according to the slide?

A) The employee

B) The insurance company

C) The employer

D) The state

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do Public Liability Policies protect contractors from?

Employee disputes

Third party claims due to various operations at the project site

Weather-related damages

Equipment theft

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a deductible in the context of Public Liability Policies?

A bonus given to the contractor for safe operations

The amount the insurance company pays out first

The amount the contractor must pay before the insurance company is liable

A discount on the premium for claim-free years

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Until when does Builder's Risk Policies cover the construction place?

Until the construction is completed

Until it is accepted by the owner

Until the permit of occupancy is given

Until the first use by the owner

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does Builder's Risk Policies include?

Only the value of the equipment used

The value of work lost and consequential damages

The value of work lost only

The value of materials only

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT an exclusion in Builder's Risk Policies?

Strikes, wars

Court orders

Natural disasters

Equipment

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under Equipment Floater policies, which of the following is NOT a type of loss value?

Replacement value

Book value

Pre-agreed value

Market value

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