What are the main parts of an insurance contract and what are they designed to accomplish? How are insurance contracts interpreted by the courts and regulatory bodies? In a dispute over coverage who has the burden of proof? What is subrogation as it relates to insurance? Consider a situation where a professional misrepresents information when acquiring an insurance policy and a third party is injured. What might happen if a claim is made against the insurance company that issued the policy based on fraudulent information? Will the insurance company be liable? Support your position with a specific case.

Q: Which of the following would be considered a self-interest threat? When a member of the assurance…

A: Self-interest threat: Self-interest threat refers to a situation in which a member will act in a way…

Q: Homeowners insurance provides coverage for:   Damages that the insured becomes legally obligated…

A: Homeowners insurance is a type of property insurance that provides coverage for damages to the…

Q: Describe how an unrelated tenant in common or joint tenant should protect him- or herself from…

A: Please find the answer to the above question below:

Q: Bodily injury and property damage liability policies protect an insured for Loses for which the…

A: Bodily injury and property damage liability policies protects the insured when insured is at fault…

Q: A lender whose mortgagor has defaulted may be offered a deed in lieu of foreclosure. If he accepts,…

A: The correct answer is: (B) The lender will take title subject to any junior Liens. A deed in lieu of…

Q: Who can sue the auditor? how they can sue the auditor. Explain.

A: An auditor is a person or an entity (if the auditor is a firm), who is authorized and assigned/hired…

Q: countant encounter when trying to decide on “full disclo

A: Accountant role is quite complicated and he has to honest and committed to principal of accounting.

Q: the effect of the doctrine of privity of contract is that

A: The doctrine of privity of contract states that the contract law would not impose any obligation and…

Q: What causes people to commit occupational fraud?

A: Answer:Causes of occupational fraud by people are listed below:Financial pressures:Financial…

Q: If the chance that a risk will occur cannot be reasonably predicted or the possible financial loss…

A: An uninsurable risk is one that presents an unknown or unacceptable risk of loss for an insurance…

Q: Which of the following would be considered a self-interest threat? When a member of the assurance…

A: Auditor's independence is the most crucial aspect of the whole auditing process and can be…

Q: MATCH WITH THE  BEST ANSWER Liability Insurance Mistakes happen. You, your employees, your…

A: Insurance: It is an agreement between two parties where a party undertakes to cover the other party…

Q: What does a third-party user of financial statements have to prove under common law in a suit…

A: The objective of this question is to understand what a third-party user of financial statements…

Q: Do you believe the accuracy of the prepaid accounting balance can be determined by examining, the…

A: To determine the accuracy of the prepaid accounting balance, one needs to examine various factors…

Q: In which of the following situations is there a violation of client confidentiality under the AICPA…

A: American Institute of CPA is the body which is issues the AICPA code of professional conduct. The…

Q: None

A: The most appropriate action to take to maintain the original integrity of the loan is to: Ensure…

Q: Factual errors can occur in two ways: unilaterally or bilaterally. What are the implications of both…

A: pleas see the next step for solution

Q: Which common law approach leads to increased CPA liability to "foreseeable" third parties for…

A: CPA is liable to conduct the professional accounting work. He would be responsible for any…

Q: When compleling an insurance application, a producer should   A.complete as much of the…

A: The producer of insurance has responsibility of taking care of clients and telling every thing about…

Q: Please summarize tthings that CPAs can do to limit their liability and prevent lawsuit

A: CPAs are certified public accountants. In other words they are licensed accounting professionals who…

Q: What factors must be considered in determining whether or not to record a liability for pending…

A:

Q: Safety regulations are superior when an Injurer can escape paying damages by filing bankruptcy. True…

A: Bankruptcy Bankruptcy refers to the legal process where people who become insolvent or are not able…

Q: Insuring clause in an Accident & Health policy states which of the following information? A. The…

A: There are different clause in the insurance policy that what is covered and what is not covered and…

Q: Wrongful Call insurance is intended to protect the exporter if an importer customer decides that the…

A: The answer is False.

Q: When compleling an insurance applicalion, a producer should A. complete as much of the application…

A: The job of the producer is to make sure that the applicant knows all the features of the insurance…

Q: Which of the following is NOT a valid type of compensation for breach of contract? Select one: a.…

A: A contract is an agreement between two or more parties in which one party is bound to perform or not…

Q: Which of the following would be accepted as a proof of liability insurance for automobile liability…

A: Solution: A liability insurance binder issued by the insurance producer in effect on the date the…

Q: What does a third-party user of financial statements have to prove under common law in a suit…

A: An Audit is an independent examination of financial information of any entity whether profit…