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Ic01 - Chapter 06

Authored by Remya A

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Professional Development

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Ic01 - Chapter 06
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Principle of Insurable Interest is defined by

Insurance Companies

Court of Law

Insurance Act 1938

Policy Conditions

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Sanjay wants to insure his Vintage cars. The Valuation of Sum Assured is done by mutual consent , known as

High Value

Agreed Value

Mutual Value

Consent Value

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Proximate Cause is known as the ----- cause

Most Risky

Biggest

Closet

Immediate

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The principle of indemnity ensures that

Insurance contract cannot be used to make a profit

Insurance should not be taken by high risk people

Insurance cannot be taken by politicians

Insurance can br used to make profits

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Principle of Subrogation & Contribution does not applies to

Life Insurance

Personal Accident Insurance

Only A

Only B

Both A & B

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In General, the principle of contribution is also termed as

Half Insurance

Double Insurance

Partial Insurance

Joint Insurance

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Indisputability clause is applicable to only ------- insurance policies & comes under section -----

Health , 43

Motor, 45

Life , 45

Life , 51

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