Insurance works on the principle of
A) Sharing of losses
B) Probabilities
C) Large numbers
D) All of the Above
Correct Answer:
Verified
Q3: _is the oldest form of insurance
A)Motor insurance
B)Marine
Q4: Life insurance made its first appearance in
Q5: Risk may be:
A)objective
B)subjective
C)Both (a) and (b)
D)None of
Q6: The General Insurance Business Nationalization Act was
Q7: Life Insurance Corporation of India headquarter is
Q9: The principle of _ensures that an insured
Q10: Insurance is meant to
A)Prevent specified events
B)Prevent damage
Q11: Insurance compensate losses
A)By replacing the original asset
B)To
Q12: Insurance is necessary because
A)Assets depreciate over time
Q13: Insurance works on the principle of
A)Sharing
B)Probabilities
C)Large numbers
D)All
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