Dante Is a Claims Adjuster with the Insurer of a Supermarket

question 30

Multiple Choice

Dante is a claims adjuster with the insurer of a supermarket chain and has just concluded successful negotiations with a customer who was injured as a result of slipping on ice in a store parking lot.Which step should now take place?

• A) The parties should now enter into a settlement or release agreement.
• B) The parties should take their agreement to a judge for review and approval.
• C) The insurance company should seek reimbursement of the claim from the supermarket chain.
• D) A written contract should now be filed with the court.

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Definitions:

Earn Interest

The process by which money deposited in a savings account or investment grows over time due to the payment of interest.

Months

Units of time measurement that constitute roughly one-twelfth of a year, used in planning and tracking various financial activities.

Interest

The cost of borrowing money or the payment received for lending money, usually expressed as a percentage of the principal.

Investment

Investment involves allocating resources, usually money, with the expectation of earning an income or profit over time.