Multiple Choice
Insurance works on the principle of
A) Sharing
B) Probabilities
C) Large numbers
D) All the above
Correct Answer:
Verified
Correct Answer:
Verified
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
Q12: Insurance compensate losses<br>A)By replacing the original asset<br>B)To
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
Q18: Insurance principle does not include<br>A)principle of indemnity<br>B)principle