oc 4.3

What does subject matter mean in insurance?

• The newspaper headline

• The insurance agent

• The item being insured

• The complaint letter

What does the Principle of Insurable Interest mean?

• To share all important facts honestly and completely

• The insured must have a financial interest in the insured item

• The insurer becomes the owner of the damaged item

• Claiming the full loss amount from more than one insurer

What does the Principle of Causa Proxima focus on?

• The earliest cause of damage

• The reason the policy was bought

• The final settlement date

• The most direct cause of the loss

Under which principle does the insurer take over the legal rights of the insured after paying for the loss?

• Subrogation

• Contribution

• Insurable Interest

• Causa Proxima

Does principle of indemnity applies to life insurance?

• Yess

• Nope

• I wasn't listening

• Not my vibe

In which policy does the insured receive the sum assured at the end of the policy if they survive?

• Whole Life Policy

• Endowment Insurance Policy

• Term Insurance

• Money-back Policy

What does ULIP combine in one policy?

• Insurance and Retirement

• Life Insurance and Health Insurance policy

• Life Insurance and Mutual Fund Investment

• Child and Health Cover

Which policy covers goods only for a specific journey, no matter how long it takes?

• Time Policy

• Voyage Policy

• Mixed Policy

• Blanket Policy

What policy covers cargo during its whole journey, including transport by road and rail?

• Voyage Policy

• Time Policy

• Block Policy

• Port Risk Policy

If a shipping company insures multiple ships under one policy, what is that policy called?

• Fleet Policy

• Valued Policy

• Single Vessel Policy

• Composite Policy