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LLMIT

victoriahowell90 4 preguntas

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Preguntas del test (4)

  1. 1A primary purpose of insurance as a risk transfer mechanism is to
    1. Acompensate for financial losses however sustained
    2. Bhelp balance the national economy
    3. Cspread the cost of an insured loss amongst many policyholders
    4. Dprovide a source of funds for capital investment
  2. 2The duty of providing full particulars of a claim and proof of loss ultimately rests with the
    1. Aloss adjuster
    2. Bbroker
    3. Closs assessor
    4. Dinsured
  3. 3Assignment in relation to insurance is the
    1. Apassing of rights under the policy from one party to another
    2. Bdivision of a loss between insurers where two or more insurers cover the same risk
    3. Cdelegation of a loss settlement authority to a third party
    4. Dscaling down of a claim payment in proportion to the degree of underinsurance
  4. 4A proposer makes a fraudulent statement in order to obtain insurance cover at a reduced rate. The consequent common law position is that any policy issued will
    1. Abe void from inception
    2. Bremain valid, but the insured must pay an additional premium only
    3. Cremain valid, but the insured must pay an additional premium and the policy cannot be renewed
    4. Dremain valid, but cannot be renewed only

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Lloyd's test
Idioma
English
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