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Title Name Amity Solved Assignment MBA for Application of General Insurance
University AMITY
Service Type Assignment
Course MBA
Semister Semester-III-Insurence Cource: MBA
Short Name or Subject Code Application of General Insurance
Commerce line item Type Semester-III-Insurence Cource: MBA
Product Assignment of MBA Semester-III-Insurence (AMITY)

Solved Assignment


  Questions :-

                                                                                    Application of General Insurance

Assignment A

1 . Discuss Principle of Insurable Interest.

 2 . Definition of Accident.

3 . What is Material Fact?

4 . What is Pure Risk?

5 . What is the significance of deducting salvage?

6 . Distinguish between Peril and Hazard.

7 . Describe the functions of IRDAI.

8 . Enumerate the advantages of insurance as a tool of risk control.

 

 

Assignment B

Case Detail:
Radhey Shyam insured his car for IDV of Rs. 4 Lac under Motor Package Policy. His car got damaged in an accident.  Surveyor assessed following expenses in getting his car repaired before depreciation:
1. Tyre Replacement - Rs.2000/-2. Door Replacement - Rs.6000/-3. Wind Screen Glass - Rs.1500/-4. Head Lights ( Both) Plastic Made) - Rs.2000/-5. Bumper Replacement ( Fibre Make) - Rs.2200/-6. Painting Charges - Rs.1200/-7. Bonnet Replacement - Rs.4500/-8. Towing Charges - Rs.500/-9. Labour Charges Rs. 3000/-
Depreciation Rate on Metal Parts    - 15%Excess Clause       - Rs. 500
You are required to specify the amount admissible after depreciation in respect of following items:

Question No. 
1. For Tyre replacement    :          Rs.................. 
2. For Bonnet Replacement    :          Rs.................. 
3. For replacement of Windscreen Glass    :          Rs..................

 

 

Assignment C
Question No.  1 Marks - 10‘

Moral Hazard’ refers to  

Options

  1.  Conduct of the surveyor  
  2. Physical features of the property
  3.  Conduct of the insurer
  4.  Conduct of the insured

 

Question No.  2 Marks - 10

Subject matter of Insurance is

 Options  

  1. Property which may suffer damage
  2.  Consequences of occurrence of an event  
  3. An event which may cause damage to property
  4.  Circumstances which aggravate the event

 

Question No.  3 Marks - 10

Presently In India, Non-Life Insurance Premium is substantially

 Options  

  1. Non-tariff  
  2. Regulated by GIC
  3. Under market agreement
  4.  Tariff

 

Question No.  4 Marks - 10

Insurance Underwriter is a person who

 Options  

  1. Purchases insurance products
  2.  Sells the insurance products  
  3. Decides whether to accept the insurance proposal or not  
  4. Inspects the risks before acceptance of proposal

 

Question No.  5 Marks - 10

Insurable interest may exist in Fire Policy  

Options  

  1. Throughout currency of the policy  
  2. Only at the beginning  
  3. Both at the beginning and at the time of loss  
  4. Only at the time of loss

 

Question No.  6 Marks - 10

Insurance Agent’ represents  

Options

  1.  GIC  
  2. Insured’s
  3.  Insurers
  4. Insurance broker

 

 

Question No.  7 Marks - 10

Disadvantage of Self Insurance Is  

Options  

  1. Capital is held up  
  2. The basic insurance law of large number if not adopted  
  3. In catastrophic events financial condition of insured will be jeopardized  
  4. All of above

 

Question No.  8 Marks - 10

Insurance Covers

 Options  

  1. Business risks  
  2. Pure risks
  3. Gambling risks  
  4. Speculative risks

 

Question No.  9 Marks - 10

Risk from Insurer’s point of view is  

Options  

  1. Circumstances which aggravate the event  
  2. Consequences of occurrence of an event  
  3. An event which may cause damage to property  
  4. Property which may suffer damage

 

Question No.  10 Marks - 10

Principle of utmost good faith means  

Options  

  1. Buyer should be careful  
  2. Proposer cannot mislead the insurer  
  3. Both proposer and insurer must disclose the material facts  
  4. Seller cannot mislead the buyer

 

Question No.  11 Marks - 10

Self Insurance is advantageous because  

Options

  1.  Interest on the investment of funds belongs to the insured  
  2. No disputes will arise with insurers over claims  
  3. There is a direct incentive to control and minimise the risk  
  4. All of the above

 

Question No.  12 Marks - 10

Risk Manager is a person who  

Options  

  1. Inspects risks proposed for insurance
  2. Looks after insurers underwriting department  
  3. Looks after the risk profile of an entrepreneur
  4.  Takes risks in business

 

Question No.  13 Marks - 10

Bancassurance Means

 Options  

  1. Bank account opened by an insurance company  
  2. Banks selling insurance on behalf of their clients
  3.  Banks purchasing insurance cover for their property  
  4. Banks selling insurance products on behalf of insurers

 

Question No.  14 Marks - 10‘

Re-Insurance’ means

 Options  

  1. Taking two insurance policies on one’s life  
  2. Taking two insurance policies on one  property  
  3. Insurance of insured business  
  4. Taking more than one insurance policy on two or more properties

 

Question No.  15 Marks - 10

Insurable Interest must exist in Marine insurance policy  

Options

  1.  Not necessary to exist at any time  
  2. At the time of the loss  
  3. At the inception of the policy.  
  4. Both at the time of inception of the policy and at the time of loss

 

Question No.  16 Marks - 10

‘Risk Transfer’ means  

Options  

  1. Transfer of insurance policy from original insured to new insured  
  2. Purchasing insurance cover for premises  
  3. Shifting of location of premises
  4.  Transfer of ownership of premises

 

Question No.  17 Marks - 10

Non-Disclosure of material facts by the insured may render the insurance contract  

Options

  1.  Void
  2.  Voidable  
  3. Void-Ab-Initio  
  4. Valid

 

 

Question No.  18 Marks - 10

Principle of Indemnity is strictly applicable in  

Options  

  1. Fire insurance
  2.  Personal accident insurance  
  3. Valued policy  
  4. Life insurance

 

Question No.  19 Marks - 10

Insurable interest may arise in the property when a person  

Options  

  1. Finances the property  
  2. Becomes owner of the property  
  3. Becomes lessee of the property  
  4. All of the above

 

Question No.  20 Marks - 10

‘Insurance Broker’ represents  

Options  

  1. LIC
  2.  Insured’s  
  3. Insurers  
  4. IRDA

 

Question No.  21 Marks - 10

Insurance

 Options  

  1. Protects the assets  
  2. Reduces possibilities of loss  
  3. Prevents the loss  
  4. Pays when there is loss of assets

 

Question No.  22 Marks - 10

Principle of subrogation means  

Options

  1.  Transfer of insured’s rights to insurer
  2.  Transfer of insurer’s rights to insured  
  3. Transfer of one insurer’s rights to another insurer
  4.  Transfer of one insured’s rights to another insured

 

Question No.  23 Marks - 10

Principle of contribution is applicable where there

 Options  

  1. Exists one insurance policy on one subject matter  
  2. Exist two or more policies on one subject matter  
  3. Exists one insurance policy on more than one subject matter  
  4. Exist two or more insurance policies on more than one subject matter

 

Question No.  24 Marks - 10

Proposal Form Is filled and signed by

 Options

  1.  Insurer
  2.  Insurance Agent  
  3. Insured  
  4. Insurance Surveyor

 

Question No.  25 Marks - 10

Insurers may assume risks

 Options  

  1. Only on receipt of premium in advance  
  2. By providing credit facility  
  3. Without receipt of premium  
  4. On personal surety

 

Question No.  26 Marks - 10

Insurance Survey Report findings are taken as  

Options

  1.  Mandatory  
  2. Indicative  
  3. Recommendatory  
  4. Of No Importance

 

Question No.  27 Marks - 10

Co-Insurance means  

Options  

  1. Husband and wife life cover jointly
  2.  Insurance of one property by two or more insurers under one policy  
  3. Insurance of more than one property under two policies  
  4. Insurance of more than one property under one policy

 

Question No.  28 Marks - 10

Insurance contracts are subject to the principle of

 Options

  1. Utmost good faith  
  2. Insurable interest
  3.  Indemnity  
  4. All of the above

 

Question No.  29 Marks - 10‘

Bad Risk’ from Insurer’s point of view is  

Options  

  1. Less hazardous  
  2. Moderately hazardous
  3.  Highly hazardous
  4.  None of the above

 

Question No.  30 Marks - 10

‘Franchise’ Clause Refers that  

Options  

  1. Full amount of assessed loss will be borne by the insurer
  2.  Full amount of assessed loss will be borne by the insurer if it exceeds a specified amount
  3.  Specified amount of the loss shall be borne by the insured  
  4. No amount of loss shall be borne by the insured

 

Question No.  31 Marks - 10 

Personal Accident Insurance falls under  

Options  

  1. Life insurance  
  2. Self insurance  
  3. Mediclaim insurance  
  4. Misc insurance

 

Question No.  32 Marks - 10 

In Motor Own Damage Accident Claim on metal  parts, the depreciation is deducted @  

Options

  1.  As per the age of the vehicle  
  2. 0.5  
  3. 0.25
  4.  0.3

 

Question No.  33 Marks - 10

 The subject matter of ‘Standard Fire And Special Perils Policy Is  

Options  

  1. Human beings  
  2. Cattles  
  3. Liability  
  4. Property

 

Question No.  34 Marks - 10

 In India, Insurance business is conducted by

Options

  1.  Private sector units only  
  2. Both public and private sector units
  3.  IRDA
  4.  Public sector units only

 

Question No.  35 Marks - 10“

Excess” Clause is inserted in insurance contract to avoid  

Options  

  1. High value claims  
  2. Trivial claims  
  3. Fraud claims  
  4. Frequent claims

 

Question No.  36 Marks - 10

Motor Insurance claims are paid  

Options  

  1. Before loss is  occurred  
  2. After surveying the loss  
  3. Without surveying the loss  
  4. None of the above

 

Question No.  37 Marks - 10

‘Householders Insurance Policy falls under  

Options  

  1. Commercial insurance category  
  2. Personal insurance category  
  3. Life insurance  
  4. Self insurance

 

Question No.  38 Marks - 10

In Motor Insurance, in the event of total loss policy

 Options

  1.  Is cancelled
  2.  Premium is loaded  
  3. Continues
  4. Is re-instated by charging prorate premium

 

Question No.  39 Marks - 10‘

Salvage’ In Fire Claim is deducted because of application of principle of  

Options  

  1. Close proximity
  2.  Utmost good faith  
  3. Indemnity  
  4. Insurable interest

 

Question No.  40 Marks - 10

Which of the following is not an implied condition under insurance contracts

 Options  

  1. Pro-rata average  
  2. Utmost good faith  
  3. Existence of subject matter
  4. Insurable interest
  Answers :-

                                                                                   Application of General Insurance

Assignment A
1. Discuss Principle of Insurable Interest  

Answer:- 

Insurable interest exists when an insured person derives a financial or other kind of benefit from the continuous existence, without impairment or damage, of the insured object (or in the case of a person, their continued survival). A person has an insurable interest in something when loss of or damage to that thing would cause the person to suffer a financial or other kind of loss.Typically, insurable interest is established by ownership, possession, or direct relationship. For example, people have insurable interests in their own homes and vehicles, but not in their neighbors´ homes and vehicles, and certainly not those of strangers.The "factual expectancy test" and "legal interest test" are the two major concepts of insurable interest.
Insurable interest refers to the right of property to be insured. It may also mean the interest of a beneficiary of a life insurance policy to prove need for the proceeds, called the "insurable interest doctrine". Specifically, insurable interest is:An interest based upon a reasonable expectation of pecuniary advantage through the continued life, health and bodily safety of another person, and, consequently, loss by reason of their death or disability; orA substantial interest engendered by love and affection if closely related by blood or by law.— Society of Actuaries Insurable interest is no longer strictly an element of life insurance contracts under modern law. Exceptions include viatication agreements and charitable donations.The principle of insurable interest on life insurance is that a person or organization can obtain an insurance policy on the life of another person if the person or organization obtaining the insurance values the life of the insured more than the amount of the policy. In this way, insurance can compensate for loss. A company may have an insurable interest in a President/CEO or other employee with special knowledge and skills. A creditor has an insurable interest in the life of a debtor, up to the amount of the loan. A person who is financially dependent on a second person has an insurable interest in the life of that second person.
Principle of Uberrimae fidei (Utmost Good Faith),Principle of Insurable Interest,Principle of Indemnity,Principle of Contribution,Principle of Subrogation,Principle of Loss Minimization, and.Principle of Causa Proxima (Nearest Cause).

2. Definition of Accident.

Answer:- 

An accident, also known as an unintentional injury, is an undesirable, incidental, and unplanned event that could have been prevented had circumstances leading up to the accident been recognized, and acted upon, prior to its occurrence. Most scientists who study unintentional injury avoid using the term "accident" and focus on factors that increase risk of severe injury and that reduce injury incidence and severity.
Poisons, vehicle collisions and falls are the most common causes of fatal injuries. According to a 2005 survey of injuries sustained at home, which used data from the National Vital Statistics System of the United States National Center for Health Statistics, falls, poisoning, and fire/burn injuries are the most common causes of death. 
The United States also collects statistically valid injury data (sampled from 100 hospitals) through the National Electronic Injury Surveillance System administered by the Consumer Product Safety Commission. This program was revised in 2000 to include all injuries rather than just injuries involving products. Data on emergency room visits is also collected through the National Health Interview Survey. In The U.S. the Bureau of Labor Statistics has available on their website extensive statistics on workplace accidents
Accident analysis is carried out in order to determine the cause or causes of an accident or series of accidents so as to prevent further incidents of a similar kind. It is also known as accident investigation. It may be performed by a range of experts, including forensic scientists, forensic engineers or health and safety advisers. Accident investigators, particularly those in the aircraft industry, are colloquially known as "tin-kickers"

3. What is Material Fact?

Answer:- 

A material fact is a fact that would be to a reasonable person germane to the decision to be made as distinguished from an insignificant, trivial or unimportant detail. In other words, it is a fact which expression (concealment) would reasonably result in a different decision. 
Falsification of a material fact that would cause a party to the contract to refrain from entering into the contract may be grounds for rescission. For example, misrepresentation of a material fact on an application for insurance may allow an insurance company grounds to rescind an insurance policy. Within the context of corporate and securities law in the United States, a fact is defined as material if there is a substantial likelihood that a reasonable shareholder would consider it important in deciding how to vote their shares or invest their money. For insurance purposes, this is a fact deemed so important that it would change the decision made by an insurer if it were kept hidden. Misrepresentation of a material fact can void a policy. An item of evidence is said to be material if it has some logical connection to a fact of consequence to the outcome of a case. Materiality, along with probative value, is one of the two characteristics which makes a given item of evidence relevant. This is largely dependent upon the elements of the cause of action the plaintiff seeks to prove, or that the prosecutor must prove in a criminal case in order to secure a conviction. Which issues must be factually proven are therefore a product of the underlying substantive law. Within the context of corporate and securities law in the United States, a fact is defined as material if there is a substantial likelihood that a reasonable shareholder would consider it important in deciding how to vote their shares or invest their money. In this regard, it is similar to the accounting term of the same name.
Materiality is particularly important in the context of securities law, because under the Securities Exchange Act of 1934, a company can be held civilly or criminally liable for false, misleading, or omitted statements of fact in proxy statements and other documents, if the fact in question is found by the court to have been material pursuant to Rule 10b-5.

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Assignment B
Case Detail:
Radhey Shyam insured his car for IDV of Rs. 4 Lac under Motor Package Policy. His car got damaged in an accident.  Surveyor assessed following expenses in getting his car repaired before depreciation:
1. Tyre Replacement - Rs.2000/-2. Door Replacement - Rs.6000/-3. Wind Screen Glass - Rs.1500/-4. Head Lights ( Both) Plastic Made) - Rs.2000/-5. Bumper Replacement ( Fibre Make) - Rs.2200/-6. Painting Charges - Rs.1200/-7. Bonnet Replacement - Rs.4500/-8. Towing Charges - Rs.500/-9. Labour Charges Rs. 3000/-
Depreciation Rate on Metal Parts    - 15%Excess Clause       - Rs. 500
You are required to specify the amount admissible after depreciation in respect of following items:

1. For Tyre replacement    :          Rs.................. 

Ans.              Rs.2000 (no depreciation)

2. For Bonnet Replacement    :          Rs.................. 

Ans.                  Rs.3825. [4500 – 15% of 4500]

3. For replacement of Windscreen Glass    :          Rs..................

Ans.             Rs.1500 (no depreciation)

Assignment C
Question No.  1 Marks - 10‘

Moral Hazard’ refers to  

Options

  1.  Conduct of the surveyor  
  2. Physical features of the property
  3.  Conduct of the insurer
  4.  Conduct of the insured

Question No.  2 Marks - 10

Subject matter of Insurance is

 Options  

  1. Property which may suffer damage
  2.  Consequences of occurrence of an event  
  3. An event which may cause damage to property
  4.  Circumstances which aggravate the event

Question No.  3 Marks - 10

Presently In India, Non-Life Insurance Premium is substantially

 Options  

  1. Non-tariff  
  2. Regulated by GIC
  3. Under market agreement
  4.  Tariff

Question No.  4 Marks - 10

Insurance Underwriter is a person who

 Options  

  1. Purchases insurance products
  2.  Sells the insurance products  
  3. Decides whether to accept the insurance proposal or not  
  4. Inspects the risks before acceptance of proposal

Question No.  5 Marks - 10

Insurable interest may exist in Fire Policy  

Options  

  1. Throughout currency of the policy  
  2. Only at the beginning  
  3. Both at the beginning and at the time of loss  
  4. Only at the time of loss

Question No.  6 Marks - 10

Insurance Agent’ represents  

Options

  1.  GIC  
  2. Insured’s
  3.  Insurers
  4. Insurance broker

Question No.  7 Marks - 10

Disadvantage of Self Insurance Is  

Options  

  1. Capital is held up  
  2. The basic insurance law of large number if not adopted  
  3. In catastrophic events financial condition of insured will be jeopardized  
  4. All of above

Question No.  8 Marks - 10

Insurance Covers

 Options  

  1. Business risks  
  2. Pure risks
  3. Gambling risks  
  4. Speculative risks

Question No.  9 Marks - 10

Risk from Insurer’s point of view is  

Options  

  1. Circumstances which aggravate the event  
  2. Consequences of occurrence of an event  
  3. An event which may cause damage to property  
  4. Property which may suffer damage

Question No.  10 Marks - 10

Principle of utmost good faith means  

Options  

  1. Buyer should be careful  
  2. Proposer cannot mislead the insurer  
  3. Both proposer and insurer must disclose the material facts  
  4. Seller cannot mislead the buyer

Question No.  11 Marks - 10

Self Insurance is advantageous because  

Options

  1.  Interest on the investment of funds belongs to the insured  
  2. No disputes will arise with insurers over claims  
  3. There is a direct incentive to control and minimise the risk  
  4. All of the above

Question No.  12 Marks - 10

Risk Manager is a person who  

Options  

  1. Inspects risks proposed for insurance
  2. Looks after insurers underwriting department  
  3. Looks after the risk profile of an entrepreneur
  4.  Takes risks in business

Question No.  13 Marks - 10

Bancassurance Means

 Options  

  1. Bank account opened by an insurance company  
  2. Banks selling insurance on behalf of their clients
  3.  Banks purchasing insurance cover for their property  
  4. Banks selling insurance products on behalf of insurers

 

Question No.  14 Marks - 10‘

Re-Insurance’ means

 Options  

  1. Taking two insurance policies on one’s life  
  2. Taking two insurance policies on one  property  
  3. Insurance of insured business  
  4. Taking more than one insurance policy on two or more properties

Question No.  15 Marks - 10

Insurable Interest must exist in Marine insurance policy  

Options

  1.  Not necessary to exist at any time  
  2. At the time of the loss  
  3. At the inception of the policy.  
  4. Both at the time of inception of the policy and at the time of loss

Question No.  16 Marks - 10

‘Risk Transfer’ means  

Options  

  1. Transfer of insurance policy from original insured to new insured  
  2. Purchasing insurance cover for premises  
  3. Shifting of location of premises
  4.  Transfer of ownership of premises

Question No.  17 Marks - 10

Non-Disclosure of material facts by the insured may render the insurance contract  

Options

  1.  Void
  2.  Voidable  
  3. Void-Ab-Initio  
  4. Valid

Question No.  18 Marks - 10

Principle of Indemnity is strictly applicable in  

Options  

  1. Fire insurance
  2.  Personal accident insurance  
  3. Valued policy  
  4. Life insurance

Question No.  19 Marks - 10

Insurable interest may arise in the property when a person  

Options  

  1. Finances the property  
  2. Becomes owner of the property  
  3. Becomes lessee of the property  
  4. All of the above

Question No.  20 Marks - 10

‘Insurance Broker’ represents  

Options  

  1. LIC
  2.  Insured’s  
  3. Insurers  
  4. IRDA

Question No.  21 Marks - 10

Insurance

 Options  

  1. Protects the assets  
  2. Reduces possibilities of loss  
  3. Prevents the loss  
  4. Pays when there is loss of assets

Question No.  22 Marks - 10

Principle of subrogation means  

Options

  1.  Transfer of insured’s rights to insurer
  2.  Transfer of insurer’s rights to insured  
  3. Transfer of one insurer’s rights to another insurer
  4.  Transfer of one insured’s rights to another insured

Question No.  23 Marks - 10

Principle of contribution is applicable where there

 Options  

  1. Exists one insurance policy on one subject matter  
  2. Exist two or more policies on one subject matter  
  3. Exists one insurance policy on more than one subject matter  
  4. Exist two or more insurance policies on more than one subject matter

Question No.  24 Marks - 10

Proposal Form Is filled and signed by

 Options

  1.  Insurer
  2.  Insurance Agent  
  3. Insured  
  4. Insurance Surveyor

Question No.  25 Marks - 10

Insurers may assume risks

 Options  

  1. Only on receipt of premium in advance  
  2. By providing credit facility  
  3. Without receipt of premium  
  4. On personal surety

Question No.  26 Marks - 10

Insurance Survey Report findings are taken as  

Options

  1.  Mandatory  
  2. Indicative  
  3. Recommendatory  
  4. Of No Importance

Question No.  27 Marks - 10

Co-Insurance means  

Options  

  1. Husband and wife life cover jointly
  2.  Insurance of one property by two or more insurers under one policy  
  3. Insurance of more than one property under two policies  
  4. Insurance of more than one property under one policy

Question No.  28 Marks - 10

Insurance contracts are subject to the principle of

 Options

  1. Utmost good faith  
  2. Insurable interest
  3.  Indemnity  
  4. All of the above

Question No.  29 Marks - 10‘

Bad Risk’ from Insurer’s point of view is  

Options  

  1. Less hazardous  
  2. Moderately hazardous
  3.  Highly hazardous
  4.  None of the above

Question No.  30 Marks - 10

‘Franchise’ Clause Refers that  

Options  

  1. Full amount of assessed loss will be borne by the insurer
  2.  Full amount of assessed loss will be borne by the insurer if it exceeds a specified amount
  3.  Specified amount of the loss shall be borne by the insured  
  4. No amount of loss shall be borne by the insured

Question No.  31 Marks - 10 

Personal Accident Insurance falls under  

Options  

  1. Life insurance  
  2. Self insurance  
  3. Mediclaim insurance  
  4. Misc insurance

Question No.  32 Marks - 10 

In Motor Own Damage Accident Claim on metal  parts, the depreciation is deducted @  

Options

  1.  As per the age of the vehicle  
  2. 0.5  
  3. 0.25
  4.  0.3

Question No.  33 Marks - 10

 The subject matter of ‘Standard Fire And Special Perils Policy Is  

Options  

  1. Human beings  
  2. Cattles  
  3. Liability  
  4. Property

Question No.  34 Marks - 10

 In India, Insurance business is conducted by

Options

  1.  Private sector units only  
  2. Both public and private sector units
  3.  IRDA
  4.  Public sector units only

Question No.  35 Marks - 10“

Excess” Clause is inserted in insurance contract to avoid  

Options  

  1. High value claims  
  2. Trivial claims  
  3. Fraud claims  
  4. Frequent claims

Question No.  36 Marks - 10

Motor Insurance claims are paid  

Options  

  1. Before loss is  occurred  
  2. After surveying the loss  
  3. Without surveying the loss  
  4. None of the above

Question No.  37 Marks - 10

‘Householders Insurance Policy falls under  

Options  

  1. Commercial insurance category  
  2. Personal insurance category  
  3. Life insurance  
  4. Self insurance

Question No.  38 Marks - 10

In Motor Insurance, in the event of total loss policy

 Options

  1.  Is cancelled
  2.  Premium is loaded  
  3. Continues
  4. Is re-instated by charging prorate premium

Question No.  39 Marks - 10‘

Salvage’ In Fire Claim is deducted because of application of principle of  

Options  

  1. Close proximity
  2.  Utmost good faith  
  3. Indemnity  
  4. Insurable interest

Question No.  40 Marks - 10

Which of the following is not an implied condition under insurance contracts

 Options  

  1. Pro-rata average  
  2. Utmost good faith  
  3. Existence of subject matter
  4. Insurable interest

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80% Complete (danger)
1
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80% Complete (danger)
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January 29, 2015
This was nice in buy
Assignment from solve zone is probably one of the first preference of students.

October 09, 2016
This was nice in buy
I recommend a website that was really helpful throughout your session.

March 19, 2017
Some day ago
This was nice in buy
This was good in buy . I found all the answer correct and meaningful and had scored good marks
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