Exam 1: Insurance: Principles, Policies, and Practices

________ can be done by mere endorsement on the policy or by a separate duly stamped deed.

Insurance contract is sort of contract which is approved by

The person responsible for evaluation and acceptance / rejection of risks and computation of premium in insurance is called

Which of these persons will not be given a license to work as an insurance agent?

In legal sense, Insurance is a

The document which contains the terms and conditions of the life insurance contract is termed as the

_____________ are independent professionals appointed by an insurance company to assess the loss or damage on a claim under a policy.

The agents who are selling policies of several life and non life insurance companies at a time are known as

Insurance is a cooperative form of distributing a certain__________over a group of persons who are exposed to it.

What is a proposal?

______________ in the insurance are just like the retailers of any consumer product who help in selling and distributing the product.

Which of the following is an evidence of insurance contract?

Master policy is issued for ___________.

Insurance prices are called

A memorandum added to a policy embodying some alterations to the terms of policy is known as