Question 1

If insurance agents and brokers either fail to recommend the purchase of the right kind of insurance to protect against a specific type of loss or fail to recommend appropriate amounts of coverage,then it amounts to:

Accepted Answer

The answer of If insurance agents and brokers either fail...

Question 2

If an attorney fails to properly investigate matters related to a client's case,such as seeking clear title to property in real estate matters or interviewing witnesses in criminal matters it can be established that it is a(n):

Accepted Answer

Failing to properly investigate matters related to a client's case can be considered a breach of the attorney's duty to provide competent representation, which can lead to malpractice.

Question 3

The following are subject to lawsuits for negligence when they fail to perform according to the standards expected of them,EXCEPT:

Accepted Answer

The other options listed are all professions or industries that can be held liable for negligence if they do not meet expected standards. Consumers, on the other hand, cannot be sued for negligence as they are not expected to perform any professional duties or services.

Question 4

A lawsuit against the financial planner's unreasonably excessive buying or selling of securities to generate commission is known as:

Accepted Answer

Churning is a practice followed by financial planners where they excessively buy or sell securities in a client's account purely to generate commission for themselves, instead of considering the client's best interests. Such action can result in significant losses for the client, and therefore, the client may file a lawsuit against the financial planner for churning. Negligence, misrepresentation, and fraud are other types of lawsuits that clients may file against financial planners based on different reasons.

Question 5

__________ of insurance look to agents and brokers to recommend appropriate coverage.

Accepted Answer

Buyers of insurance rely on agents and brokers to provide guidance on which policies best meet their needs and provide adequate coverage.

Question 6

A professional who designs devices or installations of a complex nature,such as bridges and power-generating stations is called a(n):

Accepted Answer

The term "engineer" specifically applies to individuals who design and build complex systems, structures, and machines. Architects typically focus on designing buildings and their interiors, rather than more technical installations such as power plants, and designers can apply to a broad range of professions. Executives are leaders, managers, and administrators rather than designers or builders.

Question 7

The malpractice of a physician does not cause injury or loss to third parties,except when the patient dies or is permanently disabled because of the physician's:

Accepted Answer

Negligence refers to a failure to take reasonable care, which can result in harm to a patient. In cases where a physician's negligence results in the death or permanent disability of a patient, this can cause injury or loss to third parties such as family members who depend on the patient for support. Therefore, option B is the best choice. The other options (temperament, discrimination, harassment) do not necessarily relate to the medical care provided and may not result in injury to the patient or third parties.

Question 8

A profession in which practitioners attempt to advise their clients,who can be either individuals or businesses,of the best ways to manage their financial affairs is known as:

Accepted Answer

The profession in which practitioners attempt to advise their clients, who can be either individuals or businesses, of the best ways to manage their financial affairs is known as financial planning. Financial planners work with clients to develop and implement strategies for achieving their financial goals, which may include saving for retirement, investing in the stock market, buying a home, or planning for their children's education. Strategic planning, corporate structuring, and market planning are also important functions in business but not specific to financial advice.

Question 9

A lawsuit against the financial planner's intentional or negligent misstatement or nondisclosure of a material fact relating to an investment is known as:

Accepted Answer

A lawsuit against the financial planner's intentional or negligent misstatement or nondisclosure of a material fact relating to an investment is known as misrepresentation.

Question 10

It has been held that when,as a result of his or her negligence,the accountant fails to discover or conceals evidence that a client's employee has been embezzling funds,an accountant is liable only to his or her:

Accepted Answer

The accountant's primary duty is to work in the best interest of the client, not to protect the employee committing the embezzlement. Therefore, if the accountant failed to discover or concealed evidence of the embezzlement, the accountant may be liable to the client for any resulting damages. The agent, company, or partner would not have a direct interest or relationship to the embezzlement and would not be directly affected by the accountant's actions or omissions.

Question 11

In a malpractice lawsuit,the plaintiff must show that the professional defendant's act or failure to act directly caused the injury or loss.This element of malpractice is called a(n):

Accepted Answer

Proximate cause is the element of malpractice that requires the plaintiff to show that the professional's act or failure to act directly caused the injury or loss. Breach of duty and negligence are related elements but do not specifically refer to the causation aspect of malpractice. Undue hardship is not a relevant element in a malpractice lawsuit.

Question 12

A lawsuit against the financial planner's deliberate obstruction of the client's desire to transfer one or more accounts to another professional is known as:

Accepted Answer

Transfer of account problems occur when a financial planner deliberately obstructs a client's desire to transfer accounts to another professional, which can lead to legal action.

Question 13

The ones who are subject to lawsuits for negligence if their work results in injury to parties with whom they have contracted,or to third parties,are:

Accepted Answer

Architects are responsible for designing structures and spaces that are safe and functional, and they can be held liable if their designs result in injury or harm to individuals or property. Chiropodists, discologists, and dermatologists are healthcare professionals who may be held liable for medical malpractice, but this is unrelated to contractual negligence.

Question 14

When the client relies on the financial planner's recommendations and suffers a loss,the financial planner can be sued for:

Accepted Answer

Negligence refers to the failure of a person to exercise reasonable care and caution in their actions or recommendations. If a financial planner's recommendations result in a loss for the client and it is proved that the advice was given without sufficient skill or care, then the financial planner can be sued for negligence. Scandal, battery, and nuisance are not applicable in this scenario.

Question 15

A person who dispenses drugs other than those specifically prescribed by authorized professionals such as physicians also can be charged with malpractice if the incorrectly dispensed drugs cause injury to the legal user.Such a person is known as a:

Accepted Answer

A person who dispenses drugs other than those specifically prescribed by authorized professionals such as physicians is a pharmacist. If they dispense incorrect drugs and cause injury to the legal user, they can be charged with malpractice.

Question 16

Insurance agents and insurance brokers are deemed to possess superior knowledge of insurance and to have the ability to use their expertise to protect buyers against various kinds of:

Accepted Answer

Insurance agents and brokers are responsible for educating their clients about the potential risks and losses that they may face, and for recommending insurance products that can protect them against these risks. Therefore, they possess superior knowledge of insurance and should be able to use their expertise to help buyers protect themselves against different types of losses, including property damage, theft, liability claims, and so on. Negligence, malpractice, and churning are not related to the role of insurance agents and brokers.

Question 17

A _________ can be liable for failing to inform a patient of the risks involved in a particular surgery.

Accepted Answer

Physicians have a duty to inform their patients of the risks involved in a particular surgery before it is performed. Failure to inform a patient of these risks could result in a claim of negligence against the physician. Pharmacists, chemists, and nurses may also have a duty to inform patients of the risks involved with certain medications, but this does not necessarily apply to surgical procedures.

Question 18

An attorney can be found to have committed malpractice if he or she fails to act in a timely fashion in filing claims or bringing suit before the ___________ expires.

Accepted Answer

The statute of limitations is a time limit imposed by law within which a lawsuit must be filed. If an attorney fails to file claims or bring suit within this time limit, they can be found guilty of malpractice. Choices A, B, and D do not accurately reflect this concept.

Question 19

One who learns from a patient that he or she intends to do harm to another and has the legal responsibility to inform the possible victim and the appropriate authorities is known as a:

Accepted Answer

A psychiatrist has a legal duty to warn if they learn or believe that their patient poses a serious threat of violence to another person. This duty to warn extends to the potential victim and appropriate authorities. Physicians, nurses, and "discologists" (which is not a recognized healthcare profession) do not have this specific legal duty.

Question 20

Many states require continuing education for certain professionals in order for the individuals in the professions to retain their:

Accepted Answer

Continuing education is required in order for professionals to retain their license. This ensures that they are staying up-to-date on the latest trends, regulations, and best practices in their field in order to maintain a high standard of service.

Quiz 34: Professionals Liability