WorksheetsInsurance
Total questions: 15
Worksheet time: 8mins
What is the main purpose of insurance?
to follow the law
to get weathly
For investment purposes
To reduce risk
This covers the damage to your car and the other persons, regardless of who is at fault
Comprehensive
Liability
Homeowners
Health
An insurance broker usually __________ several different insurance companies
deals with
contacts
works for
company giving insurance cover is known as the __________.
insurer
insured
insurance
A person who has taken out insurance cover is known as the __________…
insurer
insured
insurance
Who gets your death benefit once you die?
Insurance Company
Business Partner
Your Beneficiaries
Your Pets
Charity
.........................emphasises on full disclosure of material facts related to the subject matter by both insurer and insured.
Principle of the Utmost faith
Principle of Subrogation
Principle of Proximate cause
NONE of the above.
Identify the Principle which says that,'The insured should have pecuniary interest in the subject matter'.
Principle of the Utmost faith
Principle of Contribution
Principle of Indemnity
Principle of Insurable Interest
After the claim, the right of the property is transferred to the Insurance Company. Under no circumstances, the insured is allowed to make any profit by sale of scrap. Identify the Principle.
Principle of indemnity
Principle of mitigation
Principle of Subrogation
Principle of proximate cause.
Which of the following are “Principles of Insurance”. Select as many as you think are correct.
Indemnity
Intimidation
Subrogation
Alliteration
Insurable Interest
John Insured his house with two different insurance companies. When his car was stolen, he placed a claim with both companies. Which Principle of Insurance is in place here?
Indemnity
Subrogation
Utmost Good Faith
Contribution
Insurable Interest
