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