Page 376 - IC38 GENERAL INSURANCE

Question 3

___________ is the maximum amount that an insurance company will indemnify
to someone who files a claim.

I. Sum insured
II. Premium
III. Rider
IV. Benefits

Question 4

______________ is not a source of information for underwriter.

I. Annual accounts of a proposer
II. Pre-acceptance risk survey of the asset
III. Proposal form
IV. Registration certificate of insurer

Question 5

Hazards are:

I. Factors that increase the impact of losses
II. Factors that increases the frequency of loss
III. Factors that increase the impact and severity of losses
IV. Factors that decrease the impact and severity of losses

Question 6

Which of the following is true?

Physical Hazards:

I. Are not important for rate making
II. Cannot be ascertained
III. Can be calculated from the balance sheet
IV. Can be ascertained from information given in a proposal form

Question 7

In motor insurance one of the warranties is:

I. The vehicle should be washed daily
II. The vehicle should not be used for speed testing
III. The vehicle should not be used for carrying luggage for personal use
IV. The vehicle should not be run more than 200 km per day.
Question 8

The purpose of deductible clause is to:
370