Which of the following is a function of money _____?
A. Provision of double coincidence of wants B. Durability C. Standard for deferred payment D. Portability E. Divisibility Correct Answer: Option C – Standard for deferred payment
An author’s exclusive right to published and unpublished works is known as?
A. patent right B. fundamental human right C. copyright D. authorship E. constitutional right Correct Answer: Option C – copyright
With the exception of life assurance and personal accident insurance, contracts of insurance are contracts of?
A. premium B. indemnity C. proximate cause D. utmost good faith E. general average cause Correct Answer: Option B – indemnity
The amount paid by the assured to the insurer is called?
A. interest B. premium C. dividend D. indemnity E. surrender value Correct Answer: Option B – premium
The amount paid by the insurance company to the insured upon giving up his policy is called?
A. Surrender value B. cash bonus C. assured sum D. dividend E. premium Correct Answer: Option A – Surrender valueProducts
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