Episode
Property & Casualty Exam Prep 15, Types of Liability
- Podcast
- Insurance Exam Prep
- Published
- Jun 17, 2026
- Duration seconds
- 179
- Processing state
not_requested- Canonical source
- https://open-exam-prep.com/
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Summary
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Absolute liability applies to inherently dangerous activities, and no proof of fault is required. - Strict liability is specifically for defective products that cause harm, regardless of the manufacturer's negligence. - Vicarious liability holds one party responsible for another's actions, such as an employer for an employee. - Professional liability (E&O) covers negligence related to professional services and advice, distinct from general liability. - A key exam trap is distinguishing between absolute liability (hazardous actions) and strict liability (defective stuff). For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep