A. no legal liability obligation B. legal liability obligation C. need to refund a premium D. delay in payment of…
A. slip B. endorsement C. cover note D. policy form Correct Answer: Option B B. endorsement Explanation An insurance endorsement…
(i) fortuity (ii) insurer (iii) utmost good faith (iv) financial value A. I and ii only B. ii and iii…
A. performance bond B. bid bond C. retention bond D. advance payment bond Correct Answer: Option A A. performance bond…
A. consideration B. insurable interest C. proximate cause D. subrogation Correct Answer: Option B B. insurable interest Explanation Insurable interest…
A. it was ex-gratia payment B. there was a mistake of law C. the premium had not been paid D.…
A. building B. shares C. corporation D. money Correct Answer: Option A A. building Explanation The subject matter of insurance…
A. permanent disability B. machinery breakdown C. sickness D. death Correct Answer: Option B B. machinery breakdown Explanation Business interruption…
A. does not want to continue with the life policy B. does not want to continue with car insurance C.…
Mr. Aderemi owns a car that was insured under a comprehensive policy. while insuring the car, he did not inform…