Define Legal Liability:
A. All the answers are correct
B. Legal Liability (paying others one the insured's behalf) means our rules of law dictate that one must provide reparations to another normally based on negligence
C. Negligence is the failure to exercise...
D. Negligence can be described as failure to act...
So the question asks to define LL which looks like "B". C & D could be the definitions for Negligence, but not LL. The correct answer is A, all answers are correct. What are you supposed select the definition of LL, or say that all the definitions are accurate?
Another confusing one is:
What is a risk in property and casualty insurance?
A. Chance of economic loss
B. All answers correct
C. An insurance policy
D. Chance of financial loss
What's the difference between ECONOMIC loss and FINANCIAL loss? The answer is one of those two. I've seen both used to describe risk.
Thanks for any advice.