When the insurer terminates an insurance policy, ALL of
the following conditions apply, EXCEPT one. Pick the
exception:
A. The insured is entitled to 15 days' written notice of
termination sent by registered mail of 5 days' written
notice personally delivered.
B. The refund due to the insured shall be calculated on a
short rate basis.
C. Unless otherwise stated, the refund shall accompany
the notice of termination.
D. The refund shall be in the form of money, postal or
express company money order or cheque payable at par.
,B. The refund due to the insured shall be calculated on a
short rate basis.
The major function of insurance is to:
A. Reduce the cost of losses.
B. Share the losses of the few among many.
C. Safeguard the interest of the mortgagees
D. Serve as the basis of the existing credit system.
B. Share the losses of the few among many.
,Under the policy of "fire" insurance, the insurer would be
obligated to pay the following loss only:
A. Fire damage caused to appliance following a sudden
power surge.
B. Fire damage to insured buildings occurring during a
rebellion.
C. Damage to insured property due to radioactive
contamination.
D. Loss of property caused by a process involving the
application of heat.
, B. Fire damage to insured buildings occurring during a
rebellion.
Generally, all of the following, except one, are seen to be
"incompetent" or lacking the legal capacity to contract.
Pick the exception:
A. A corporation.
B. A child.
C. A trade name.
D. A senile person.
A. A corporation.
the following conditions apply, EXCEPT one. Pick the
exception:
A. The insured is entitled to 15 days' written notice of
termination sent by registered mail of 5 days' written
notice personally delivered.
B. The refund due to the insured shall be calculated on a
short rate basis.
C. Unless otherwise stated, the refund shall accompany
the notice of termination.
D. The refund shall be in the form of money, postal or
express company money order or cheque payable at par.
,B. The refund due to the insured shall be calculated on a
short rate basis.
The major function of insurance is to:
A. Reduce the cost of losses.
B. Share the losses of the few among many.
C. Safeguard the interest of the mortgagees
D. Serve as the basis of the existing credit system.
B. Share the losses of the few among many.
,Under the policy of "fire" insurance, the insurer would be
obligated to pay the following loss only:
A. Fire damage caused to appliance following a sudden
power surge.
B. Fire damage to insured buildings occurring during a
rebellion.
C. Damage to insured property due to radioactive
contamination.
D. Loss of property caused by a process involving the
application of heat.
, B. Fire damage to insured buildings occurring during a
rebellion.
Generally, all of the following, except one, are seen to be
"incompetent" or lacking the legal capacity to contract.
Pick the exception:
A. A corporation.
B. A child.
C. A trade name.
D. A senile person.
A. A corporation.
