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Insurability Factors Quiz

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Questions and Answers

Which one of the following is a pre-condition for a risk to be insurable?

The loss must be intentionally brought about

The loss must be expected to happen

There must be no insurable interest

The loss must be fortuitous (correct)

Which one of the following is an example of a loss that is not insurable?

Earthquake risk (correct)

Loss caused by theft

Loss caused by fire

Property damage caused by war

What is the principle of utmost good faith in marine insurance?

The applicant should conceal material information

The applicant should withhold important information

The marine insurance company should reject policy applications

The applicant should disclose correct information (correct)

What can the marine insurance company do if the applicant conceals important information?

<p>Reject the policy application</p> Signup and view all the answers

Which one of the following is an example of a risk that is against public interest?

<p>Insurance in respect to fines and penalties imposed by law</p> Signup and view all the answers

Insurability Factors Quiz

Choose a study mode

Podcast

Questions and Answers

Which one of the following is a pre-condition for a risk to be insurable?

Which one of the following is an example of a loss that is not insurable?

What is the principle of utmost good faith in marine insurance?

What can the marine insurance company do if the applicant conceals important information?

Which one of the following is an example of a risk that is against public interest?

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