This quiz covers key principles of insurance, including the necessity of insurable interest, the concept of indemnity, and the principle of utmost good faith.
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False
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Life insurance
Pure risk
Non-life insurance
Speculative risk
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False
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Utmost good faith
Indemnitiy
Subrogation
Contribution
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$100
$50
$300
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False
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Accident
Illness
Both
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Insurable interest
Utmost good faith
Subrogation
Indemnity
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True
False
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Insure property with more than one insurer.
Split responsibility with few insured.
Applying only for one insurer.
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True
False
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Calculable chance of loss
Homogeneous risk
Catastrophic loss
Non-measurable loss
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True
False
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Insurable interest
Utmost good faith
Indemnity
Subrogation
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Annuities
Marine cargo
Life
Personal accident
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Ignore
Deny a claim
Adjust the premium
Adjust the benefit amount
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Fire
Annuities
Personal accident
Theft
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