Insurance Quiz

If a person insured omits to abandon, he may not recover his actual loss.

• TRUE

• FALSE

An agreement not to transfer the claim of the insured against the insurer after the loss has happened, is void if made after the loss except as otherwise provided in the case of life insurance.

• TRUE

• FALSE

One who has an interest in the thing from which profits are expected to proceed has an insurable interest in the profits.

• TRUE

• FALSE

An abandonment once made and accepted may be revoked, unless the ground upon which it was made proves to be unfounded.

• TRUE

• FALSE

An insurer is liable for a loss of which the peril insured against was only a remote cause.

• TRUE

• FALSE

A double insurance exists where the same person is insured by several insurers separately in respect to the same subject and interest.

• TRUE

• FALSE

When a ship is prevented, at an intermediate port, from completing the voyage, by the perils insured against, the liability of a marine insurer on the cargo stops even after they are reshipped.

• TRUE

• FALSE

In marine insurance, information of the belief or expectation of a third person, in reference to a material fact, is not material.

• TRUE

• FALSE

A ship is seaworthy when reasonably fit to perform the service and to encounter the ordinary perils of the voyage contemplated by the parties to the policy.

• TRUE

• FALSE

Delay in the presentation to an insurer of notice or proof of loss is waived if caused by any act of the insured.

• TRUE

• FALSE