click below
click below
Normal Size Small Size show me how
Insurance
Quiz on Insurance
Question | Answer |
---|---|
What is Insurance? | Protection against a Possible loss that we hope will not happen. |
What is a Premium? | Paid FEE for an INSURANCE POLICY |
What is adequate Insurance? | Should cover ALL RELAEVANT risks for the correct amount |
What are the 5 PRINCIPLES of insurance? | Insurable Interest, Utmost Good Faith, Indemnity, Subrogation, Contribution. |
What is Insurable Interest? | When insuring something One must gain from its existence and suffer from it loss to be able to do so. |