Motor Overview Quiz

What is the main purpose of Insurance?

• To protect against financial losses

• To make a profit

• To avoid accidents

• To increase liabilities

What is the principle of Indemnity in Insurance?

• Compensating for the loss incurred

• Ignoring the loss

• Making a profit from losses

• Avoiding compensation

What does Subrogation mean in the context of Insurance?

• Avoiding legal rights

• Denying compensation

• Ignoring the claim

• Replacing the policyholder's place with the insurer

What is the principle of Utmost Good Faith in Insurance?

• Avoiding honesty

• Being dishonest in the contract

• Hiding information from the insurer

• Revealing critical information for decision-making

What is Insurable Interest in Insurance?

• Linking the insured and owner of the policy

• Denying coverage

• Ignoring the policyholder

• Avoiding financial hardship for the policyholder

What does Comprehensive package policy cover?

• Covers OD + Liability Risk and TP Liability risk coverage

• Covers TP Death, Injury & Property Damage

• TP Liability risk coverage only

• None of the above

What does Proximate Cause refer to in Insurance?

• The nearest cause leading to the loss

• An indirect cause of loss

• Ignoring the loss event

• Avoiding the actual cause

What are the criteria for deductions in claims for depreciation?

• Age of Vehicle

• 50% of the cost for Rubber part

• 30% of the cost for Fibre Parts

• 0% of the cost for Glass parts

• All of the above

What are Peril and Hazard in Insurance?

• Exclusions in insurance

• Types of insurance policies

• Cause of loss and condition increasing chance of loss

• Principles of insurance

What is the purpose of Motor Claims Process - RSA services?

• To provide roadside assistance and towing of vehicles

• To delay claim settlements

• To avoid customer contact

• To increase claim rejections