Question 1

What is an insurance deductible?

Accepted Answer

The deductible is the minimum portion of the cost of the claim that the insured must pay before the insurer will cover the rest of the claim.

Question 2

What steps should the obligee under a surety bond take regarding the safekeeping of documentation?

Accepted Answer

The obligee should ensure that she retains the original copy of the surety document. The bond will be unenforceable unless the obligee has the original bond document.

Question 3

All insurance policies impose on the insurer the duty to defend and the duty to indemnify when the claim is within coverage.

Accepted Answer

A) True 
 B)False  False

Question 4

Like labour and material payment bonds, lien bonds are put in place at the start of the contract.

Accepted Answer

A) True 
 B)False

Question 5

In what sense are both the insured and the insurer under a duty of good faith in insurance contracts?

Accepted Answer

When the insurance contract is being ent

Question 6

In what circumstances might a professional be liable because her design is not perfect?

Accepted Answer

When the professiona

Question 7

Supervision connotes a greater degree of involvement during the construction process than inspection.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is the most common cause of client dissatisfaction?

Accepted Answer

A)  projects being completed behind schedule 
B)  technical challenges 
C)  failure to establish realistic client expectations by effective and continuous communication 
D)  unforeseen difficulties 
A)  projects being completed behind schedule 
B)  technical challenges 
C)  failure to establish realistic client expectations by effective and continuous communication 
D)  unforeseen difficulties

Question 9

On a shopping mall construction project, which of the following best describes the extent of the subcontractor's insurable interest?

Accepted Answer

A)  the subcontractor's tools and other equipment 
B)  the work performed by the subcontractor 
C)  the work performed by the subcontractor and the contractor who employed the subcontractor 
D)  the physical property of the entire site (i.e. the work done by all of the contractors and subcontractors) 
A)  the subcontractor's tools and other equipment 
B)  the work performed by the subcontractor 
C)  the work performed by the subcontractor and the contractor who employed the subcontractor 
D)  the physical property of the entire site (i.e. the work done by all of the contractors and subcontractors)

Question 10

Operating though a corporation will not protect a professional against claims for personal negligence.

Accepted Answer

A) True 
 B)False

Question 11

For what tactical reason may a professional choose to not have insurance?

Accepted Answer

If it is known that

Question 12

Which of the following is true regarding insurance contracts?

Accepted Answer

A)  the scope of coverage clause defines what claims are covered by the policy 
B)  exclusion clauses reduce the scope of coverage 
C)  exception clauses reduce the scope of exclusion clauses 
D)  all of the above 
A)  the scope of coverage clause defines what claims are covered by the policy 
B)  exclusion clauses reduce the scope of coverage 
C)  exception clauses reduce the scope of exclusion clauses 
D)  all of the above

Question 13

Which of the following may be a defence available to a surety who does not want to pay out under a performance bond?

Accepted Answer

A)  the surety did not review the obligations on the contractor under the construction contract 
B)  the owner did not perform all the obligations under the construction contract 
C)  the contractor made a misrepresentation to the surety before the surety agreed to provide the performance bond 
D)  all of the above 
A)  the surety did not review the obligations on the contractor under the construction contract 
B)  the owner did not perform all the obligations under the construction contract 
C)  the contractor made a misrepresentation to the surety before the surety agreed to provide the performance bond 
D)  all of the above

Question 14

Which of the following is a course of action a surety under a performance bond could take upon being notified by the owner of a default by the contractor?

Accepted Answer

A)  complete the construction contract himself 
B)  pay the owner the face value of the performance bond 
C)  do nothing, and wait to see if the owner sues the contractor to prove that the contractor was actually in default 
D)  all of the above 
A)  complete the construction contract himself 
B)  pay the owner the face value of the performance bond 
C)  do nothing, and wait to see if the owner sues the contractor to prove that the contractor was actually in default 
D)  all of the above

What is an insurance deductible?

What steps should the obligee under a surety bond take regarding the safekeeping of documentation?

All insurance policies impose on the insurer the duty to defend and the duty to indemnify when the claim is within coverage.

Like labour and material payment bonds, lien bonds are put in place at the start of the contract.

In what sense are both the insured and the insurer under a duty of good faith in insurance contracts?

In what circumstances might a professional be liable because her design is not perfect?

Supervision connotes a greater degree of involvement during the construction process than inspection.

Which of the following is the most common cause of client dissatisfaction?

On a shopping mall construction project, which of the following best describes the extent of the subcontractor's insurable interest?

Operating though a corporation will not protect a professional against claims for personal negligence.

For what tactical reason may a professional choose to not have insurance?

Which of the following is true regarding insurance contracts?

Which of the following may be a defence available to a surety who does not want to pay out under a performance bond?

Which of the following is a course of action a surety under a performance bond could take upon being notified by the owner of a default by the contractor?

The Canadian Legal System, Regulation of the Professions and Ethical Considerations

Property Law

Business Organizations and Contracts

Breach of Contract, Interpreting and Drafting Contracts

Selected Contract Issues

Getting to a Contract

Torts, Specific Contracts and Clauses

Common Issues in Contract, Tort, Dispute Resolution and Expert Evidence

Construction Liens, Delay and Impact Claims

Labour Law and Employment Law

Environmental Law, Health and Safety Law

Aboriginal Law, Securities Law, Internet Law and Privacy Law

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Exam 9: Risk, Responsibility, Dispute Avoidance, Insurance, and Bonds

What is an insurance deductible?

What steps should the obligee under a surety bond take regarding the safekeeping of documentation?

All insurance policies impose on the insurer the duty to defend and the duty to indemnify when the claim is within coverage.

Like labour and material payment bonds, lien bonds are put in place at the start of the contract.

In what sense are both the insured and the insurer under a duty of good faith in insurance contracts?

In what circumstances might a professional be liable because her design is not perfect?

Supervision connotes a greater degree of involvement during the construction process than inspection.

Which of the following is the most common cause of client dissatisfaction?

On a shopping mall construction project, which of the following best describes the extent of the subcontractor's insurable interest?

Operating though a corporation will not protect a professional against claims for personal negligence.

For what tactical reason may a professional choose to not have insurance?

Which of the following is true regarding insurance contracts?

Which of the following may be a defence available to a surety who does not want to pay out under a performance bond?

Which of the following is a course of action a surety under a performance bond could take upon being notified by the owner of a default by the contractor?

The Canadian Legal System, Regulation of the Professions and Ethical Considerations

Property Law

Business Organizations and Contracts

Breach of Contract, Interpreting and Drafting Contracts

Selected Contract Issues

Getting to a Contract

Torts, Specific Contracts and Clauses

Common Issues in Contract, Tort, Dispute Resolution and Expert Evidence

Construction Liens, Delay and Impact Claims

Labour Law and Employment Law

Environmental Law, Health and Safety Law

Aboriginal Law, Securities Law, Internet Law and Privacy Law

Filters