Arkansas Insurance Adjuster Practice Exam

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What type of agreement did Herb and ABC Railway Transport come to regarding the sidetrack's use?

Insured Contracts
Railway Maintenance Agreement
Liability Waiver
Sidetrack Agreement

The correct answer is: Insured Contracts

When Herb and ABC Railway Transport came to an agreement regarding the sidetrack's use, it was not an Insured Contract. This type of agreement typically refers to a contract between two parties where one party agrees to indemnify the other party for any potential losses or liabilities. Similarly, it was not a Railway Maintenance Agreement, which is an agreement between a railway company and a supplier for the maintenance of the railway tracks and equipment. It also was not a Liability Waiver, which is a legal document that releases a party from liability for any damages or injuries. The correct type of agreement in this scenario is a Sidetrack Agreement, where Herb and ABC Railway Transport likely agreed upon terms for the use of the sidetrack.