In Which One of the Following Would Joe Be Able

question 72

Multiple Choice

In which one of the following would Joe be able to collect the entire amount of insurance claimed?

• A) Joe owns a one-half interest in a house valued at $100,000 that is completely destroyed in a fire. The house is insured for that amount and Joe makes a claim for $100,000.
• B) Joe insured his law partner's life for $500,000 and the amount he actually lost when the partner died was only $100,000. Joe claims $500,000.
• C) Joe insured the club house of a Hell's Angels motorcycle club located in the next block for $75,000; the house is valued at about that amount. The club house is subsequently destroyed in a fire. Joe claims $75,000.
• D) Joe's house suffers $20,000 damage, and he only had it insured for $100,000, when the actual value was over $250,000. Joe claims $20,000.
• E) Joe took out a life insurance policy on his wife for $500,000, and shortly thereafter, during a fight when he was in a drunken rage, he struck his wife, causing her death. Joe claims $500,000.

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Definitions:

Personality Characteristics

Traits or features that define an individual's distinctive patterns of thoughts, feelings, and behaviors.

Ergonomic Analysis

The study or examination of a person's working environment, aiming to increase efficiency and reduce discomfort, injury, or stress through the design of equipment and processes.

Job Description

A written statement that outlines the main duties, responsibilities, qualifications, and skills required for a specific job position.

Job Context

The environmental and situational factors surrounding a job, including company culture, physical setting, and tools required for the job.