History of Insurance Quiz

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Questions and Answers

Who dictated the cuneiform law related to insurance in the ancient era?

  • Father Jean-Vincent Scheil
  • Jacques de Morgan
  • Hammurabi (correct)
  • OP

What was the purpose of insurance in the ancient era?

  • To provide long-term finance for the public and private sectors
  • To dictate cuneiform law and contractual terms
  • To spread risks from individuals to the larger community (correct)
  • To eliminate risks and ensure safe practices

What did Code of Hammurabi Law 100 stipulate regarding repayment of a loan?

  • Repayment without any written contractual terms
  • Repayment without any terms or conditions
  • Repayment only if a net income loss occurred (correct)
  • Repayment upon total loss due to an Act of God

What was the content of the stele found by Father Jean-Vincent Scheil, OP?

<p>Cuneiform law dictated by Hammurabi (B)</p> Signup and view all the answers

For what purpose did insurance providers demand the implementation of safe practices and installation of hydrants?

<p>To eliminate risks and provide an important source of finance (B)</p> Signup and view all the answers

According to Law 103, when is an agent, factor, or charterer relieved of their liability for an entire loan?

<p>In the event of theft during the term of their charterparty with an affidavit of the theft provided to their creditor (C)</p> Signup and view all the answers

What did Law 235 stipulate regarding shipbuilders and unseaworthy vessels?

<p>Shipbuilders were liable for the replacement of an unseaworthy vessel to the ship-owner within one year of construction (A)</p> Signup and view all the answers

What was the consequence for filing a false claim of loss according to Law 126?

<p>Punishable by law (B)</p> Signup and view all the answers

According to the Nerva–Antonine dynasty-era tablet, where was the burial society collegium established?

<p>Lanuvium, Italia (D)</p> Signup and view all the answers

In which publication was the historical account of the Severan dynasty-era life table compiled by Ulpian submitted by Joseph P. Bradley?

<p>Journal of the Institute of Actuaries (D)</p> Signup and view all the answers

Which historical figure dictated cuneiform law related to insurance in the ancient era?

<p>Hammurabi (B)</p> Signup and view all the answers

What did Code of Hammurabi Law 100 stipulate regarding repayment of a loan?

<p>Repayment based on a specific date (C)</p> Signup and view all the answers

According to Laws 101 and 102, when is a shipping agent, factor, or ship charterer required to repay the principal of a loan to their creditor?

<p>In case of net income loss or total loss due to an Act of God (D)</p> Signup and view all the answers

What was the purpose of insurance in the ancient era?

<p>To spread risks from individuals to the larger community (C)</p> Signup and view all the answers

Where was the burial society collegium established according to the Nerva–Antonine dynasty-era tablet?

<p>Rome (D)</p> Signup and view all the answers

According to Law 103, under what circumstances is an agent, factor, or charterer relieved of their liability for an entire loan?

<p>If the agent, factor, or charterer is victim of theft and provides an affidavit of the theft to their creditor (C)</p> Signup and view all the answers

What did Code of Hammurabi Law 235 stipulate regarding shipbuilders and unseaworthy vessels?

<p>Shipbuilders were liable for the replacement of a lost vessel within one year of construction (A)</p> Signup and view all the answers

What was the consequence for filing a false claim of loss according to Law 126?

<p>Punishment by law (D)</p> Signup and view all the answers

According to the Nerva–Antonine dynasty-era tablet, where was the burial society collegium established?

<p>Lanuvium, Italia (A)</p> Signup and view all the answers

In which publication was the historical account of a Severan dynasty-era life table compiled by Ulpian submitted by Joseph P. Bradley?

<p>Journal of the Institute of Actuaries (D)</p> Signup and view all the answers

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