Multiple Choice
Insurance principle does not include
A) principle of indemnity
B) principle of utmost good faith
C) principle of knowledge
D) principle of subrogation
Correct Answer:
Verified
Correct Answer:
Verified
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
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
Q23: Insurance works on the principle of<br>A)Sharing of