Multiple Choice
Insurance works on the principle of
A) Sharing of losses
B) Probabilities
C) Large numbers
D) All of the Above
Correct Answer:
Verified
Correct Answer:
Verified
Q15: The General Insurance Business Nationalization Act was
Q16: The amount of insurance depends on<br>A)Peril<br>B)The risk<br>C)Neither
Q17: The principle of _ensures that an insured
Q18: Insurance principle does not include<br>A)principle of indemnity<br>B)principle
Q19: Insurance works on the principle of<br>A)Trust<br>B)Sharing<br>C)Randomness<br>D)All the
Q20: Insurance principle does not include<br>A)Principle of indemnity<br>B)Principle
Q21: The principle functions of an insurance contract
Q22: The spreading of losses incurred by the
Q24: Life insurance made its first appearance in
Q25: Life Insurance Corporation of India headquarter is