The basic principle of insurance is ________.

(a)

Insurable Interest

(b)

Co-operation

(c)

Subrogation

(d)

Proximate causa

Which of the following in not applicable in insurance contract?

(a)

Unilateral Contract

(b)

Conditional Contract

(c)

Indemnity Contract

(d)

Inter-personal contract

A person did not disclose the heart disease while taking a life insurance policy. Which principle of insurance he has violated?

(a)

Utmost good faith

(b)

Insurable Interest

(c)

Indemnity

(d)

Proximate cause

Which of the following is covered under Life Assurance policy?

(a)

Annuity Policy

(b)

Health Policy

(c)

Freight Policy

(d)

Crop Policy

Which policy provides financial support to farmers?

(a)

Cargo Insurance

(b)

Crop Insurance

(c)

Cattle Insurance

(d)

Fire Insurance

When more than one Insurance policy is taken to cover the same subject matter is called as __________

(a)

Double Insurance

(b)

Single Insurance

(c)

Re-Insurance

(d)

Spot Insurance

_______is the basic principle behind every Insurance contract.

(a)

Co-operation

(b)

Consolidation

(c)

Co-Current

(d)

Convenience

The person whose risk is insured, is called____________ .

(a)

Insurer

(b)

Insured

(c)

Underwriter

(d)

Assurer

Marine policies are divided on the basis of_______________.

(a)

Subject matter

(b)

Duration

(c)

Terms

(d)

All the above

____________Policy covers all types of risks to the ship and its cargo while the ship is at a particular port.

(a)

Voyage

(b)

Floating

(c)

Port risk

(d)

Time