- most d&o policies have claims-made trigger coverage. when does a claims-made trigger coverage apply?
- would the following issue be covered? what is the issue illustrated by the scenario? Company A failed to establish good internal controls and audit procedures
- is the following an example of a claims-made trigger?being served with a written complaint civil proceeding
- how long is NC statute of limitations?
- what type of suit is depicted in this scenario?: Barkey Co. creditors bring a suit in their own name against one of the company's directors, Bernice Magellan, and the corporate entity for filing false documents with regulatory authorities.
- what is indemnification (at a very very very basic level)?
- a corp is insured under a d&o policy providing coverage a and coverage b. a director is held liable for loss caused by a covererd wrongful act, and the corporation is lawfully able to indemnify the director. will the loss be paid under coverage a or coverage b?textbook
- Public law:concerns crimes that occur in public placesconcerns the general well-being of the publicconcerns only private citizensconcerns the legal relationship between members of society and the governmentnone of the other choices
- When a law or regulation precludes compliance with any part of USPAP, appraisers must:a)Comply with that law or regulationb)Ignore USPAP entirelyc)Be allowed to take exception to the law or regulationd)Ignore the law and adhere to USPAP
- Which of the following statements about law is true?Law must be approved by the "will of the people"the sale of marijuana is illegal worldwidethe sale of alcoholic beverages is legal worldwideNone of the other choices are necessarily correct
- A plaintiff who wants to bring a lawsuit must go to a court that has subject matter jurisdiction and jurisdiction over the defendant.TrueFalse
- The federal court system is a(n) ____________ system:one-levelexecutivelegislativethree-levelfour-level
- Many aspects of the civil litigation process between two parties in the federal court system, including pleadings, discovery, trial procedures, and motions, are governed by:the U.S. Court Rules of Civil Processthe Federal Administrative Procedure Regulationsthe Official Litigation Rules for Civil Procedurethe Civil Litigation Codenone of the other choices are correct
- What is the purpose of the JURISDICTIONAL EXCEPTION RULE?a)To provide state appraisal regulatory agencies additional enforcement powersb)To allow USPAP to preempt existing laws and regulationsc)To provide a saving or severability clause to preserve the balance of USPAP
- The plaintiff is the party who initiates a lawsuit.TrueFalse
- What continues to help the uterus contract to normal size and triggers the let down of milk?
- If an assignment involves a jurisdictional exception, what must an appraiser do?a)Include a copy of the applicable law or regulation as an addendum to the appraisal, appraisal review, or appraisal consulting reportb)Nothing; the law automatically supersedes USPAP and eliminates any need for disclosurec)Identify the law, comply with the law, disclose in the report the part of USPAP that is voided, and cite in the report the law that caused the jurisdictional exception
- True or False: If USPAP compliance is mandated by federal law, no state or local law can create a jurisdictional exception.
- True or False: The use of the JURISDICTIONAL EXCEPTION RULE in an assignment is a matter of choice by an appraiser.
- Wet and dry seasons in tropical deciduous forests are ultimately caused by ________________.