With Goods in Bailment,when Is an Insurable Interest Created

question 56

Multiple Choice

With goods in bailment,when is an insurable interest created?

• A) Only when either party has title to the goods
• B) When either party has title or a risk of loss, but not under any other circumstances
• C) When either party has title, risk of loss, or other economic interest attached to the goods
• D) Two days after either party has title to the goods
• E) Never - there is no such thing as an insurable interest in a goods-in-bailment contract

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Definitions:

Core Job Characteristics

Fundamental aspects of a job that affect an employee’s motivation, satisfaction, and performance, such as skill variety, task significance, and autonomy.

Skill Variety

the degree to which a job requires a range of different activities and skills to carry out the work involved.

Task Identity

The degree to which a job requires the completion of a whole and identifiable piece of work, providing a sense of accomplishment to the person doing the job.

Autonomy

The degree of freedom and independence an individual or entity has to make decisions or take actions without external control or influence.