5 Questions
Which one of the following is a pre-condition for a risk to be insurable?
The loss must be fortuitous
Which one of the following is an example of a loss that is not insurable?
Earthquake risk
What is the principle of utmost good faith in marine insurance?
The applicant should disclose correct information
What can the marine insurance company do if the applicant conceals important information?
Reject the policy application
Which one of the following is an example of a risk that is against public interest?
Insurance in respect to fines and penalties imposed by law
Test your knowledge on the pre-conditions for a risk to be insurable. Learn about the importance of fortuitous losses, insurable interest, and other key factors that determine if a risk can be insured. Challenge yourself with this quiz and enhance your understanding of insurance principles.
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