Match the term with its definition.
-The typical standard of care, based on what a reasonable or prudent person would do under similar circumstances
A)business interruption insurance
B)funds transfer fraud
C)indemnification clause
D)key-person life insurance
E)personnel risks
F)reasonable (prudent person) standard
G)torts
H)workers' compensation insurance
I)workers' compensation legislation

Question

Quizplus · Accepted Answer

The term "reasonable (prudent person) standard" refers to the typical standard of care, based on what a reasonable or prudent person would do under similar circumstances.

Answer: A
 Business interruption insurance is a type of insurance coverage that helps protect against losses resulting from a temporary shutdown of business operations.

Answer: B
 Funds transfer fraud refers to the unauthorized transfer of funds from one account to another through electronic means, often involving phishing or other forms of cybercrime.

Answer: C
 An indemnification clause is a contractual agreement in which one party agrees to protect and compensate the other party for any losses or damages that may occur as a result of the contract.

Answer: D
 Key-person life insurance is a type of insurance policy that is purchased by a business to provide financial compensation in the event of the death of a key employee.

Answer: E
 Personnel risks refer to the risks associated with employees, including things like accidents, injuries, and other liabilities that may arise in the course of employment.

Answer: G
 Torts are legal wrongs that result in harm to another person or their property, for which the injured party may be entitled to compensation.

Answer: H
 Workers' compensation insurance is a type of insurance coverage that provides benefits to employees who are injured or become ill as a result of their job, including medical expenses and lost wages.

Answer: I
 Workers' compensation legislation refers to the laws and regulations that govern workers' compensation insurance, including eligibility criteria, benefit levels, and other requirements.

Match the Term with Its Definition