Multiple Choice
Insurance is necessary because
A) Assets depreciate over time and through usage
B) Assets may be damaged by external causes
C) Assets require regular maintenance
D) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q4: A human being<br>A)Is an economic asset<br>B)Is an
Q5: _ is a contract between two insures
Q6: Insurance is meant to<br>A)Prevent specified events<br>B)Prevent damage
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
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
Q12: Insurance compensate losses<br>A)By replacing the original asset<br>B)To
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