Multiple Choice
Which of the following is the similarity between insurance and gambling?
A) The amount of loss to be paid is known before hand.
B) Promise to pay on the happening of an event.
C) Both the parties win on happening of an event.
D) Both are enforceable at law.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Duty to minimize loss is incorporated in
Q3: If the interest rates in the market
Q4: One who shares the risk under an
Q5: When was IRD Act passed?<br>A)1972.<br>B)1999.<br>C)1989.<br>D)2000.
Q6: Notification of Alteration in Risk is a
Q7: A policy protecting a group of persons,
Q8: _ means those risks which involve a
Q9: As the age increases risk on the
Q10: Individuals define risk as_.<br>A)deviation from some expected
Q11: The concept of bancassurance originated in _.<br>A)France.<br>B)U.S.A.<br>C)Engla