Multiple Choice
Insurance compensate losses
A) By replacing the original asset
B) To the full extent of lost income
C) Only to the extent of insured amount
D) All the above
Correct Answer:
Verified
Correct Answer:
Verified
Q7: Freight insurance is under<br>A)life insurance<br>B)marine insurance<br>C)fire insurance<br>D)other
Q8: Virtual banking is also called<br>A)Internet Banking<br>B)Home banking<br>C)Mobile
Q9: Insurance is necessary because<br>A)Assets depreciate over time
Q10: The IRDA stands for<br>A)Insurance Regulatory and Development
Q11: Risk may be:<br>A)objective<br>B)subjective<br>C)Both (a) and (b)<br>D)None of
Q13: Insurance works on the principle of<br>A)Sharing<br>B)Probabilities<br>C)Large numbers<br>D)All
Q14: Insurance benefits replace<br>A)All physical losses in full<br>B)All
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