O C. SubrogationO D. Indemnity4. An insured may not be compensated by the insurance company in an amountexceeding the insured's economic loss refers toO A. principle of contributionO B. principle of utmost good faithO C. principle of indemnityO D. principle of proximate cause5. Which of the following actions showcases the principle of "uberrima fides"? *

The following are some of the principles of insurance, they are Principle of contribution Principle…

Answered: 4. An insured may not be compensated by…

4. An insured may not be compensated by the insurance company in an amount exceeding the insured's economic loss refers to

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

O C. Subrogation
O D. Indemnity
4. An insured may not be compensated by the insurance company in an amount
exceeding the insured's economic loss refers to
O A. principle of contribution
O B. principle of utmost good faith
O C. principle of indemnity
O D. principle of proximate cause
5. Which of the following actions showcases the principle of "uberrima fides"? *

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19. If an individual renders services to a creditor who in consideration thereof cancels the debt, the cancellation of indebtedness may,amount to a: a. Gift С. Donation inter vivos b. Capital contribution d. Payment of income CS Scanned with CamScanner
C. a legally recognized relationship between the insured and the financial loss O D. risk that have high frequency and high severity 2. When two or more policies cover the same loss, the right of the one insurer to call upon the other to share the loss is called the principle of O A. indemnity B. subrogation O C. contribution O D. utmost good faith 3, Which of the following principles of insurance denotes a positive duty of the person seeking insurance to voluntarily disclose all material facts to the risk
34) 1. Fundamental purposes of the principle of indemnity include which of the following? I- To reduce physical hazards II- To prevent the insured from profiting insurance
C. contribution O D. utmost good faith 3, Which of the following principles of insurance denotes a positive duty of the person seeking insurance to voluntarily disclose all material facts to the risk being proposed whether requested or not? * O A. Utmost good faith O B. Contribution C. Subrogation O D. Indemnity
10. ________principle means that the insured is not entitled to make a profit on his loss: a. subrogation b causa proxima c. indemnity d. uberrima fides 11. The purpose of _______ are to hold the negligent person responsible for the loss and prevent the insured from collecting twice for the same loss. a. subrogation b causa proxima c. indemnity d. uberrima fides 12. _________principle in insurance mention the cause of loss must be direct and an insured one in order to claim for compensation. a. subrogation b causa proxima c. indemnity d. uberrima fides. 13. _________ principle in insurance mention the assured must have insurable interest in the life or property insured? a. subrogation b causa proxima c. indemnity d. insurable interest
10. Which of the following is (are) among the objectives of claim settlement? I. Personal assistance to the insured II. Verification of a covered loss III. Ensuring that the insured pays for a part of the loss A) I and II only B) II and III only C) All of the above D) None of the above
2. Which of the following is an example of conversion, the misappropriation of fiduciary monies? a . premium diversion b. False statements in official filings C. issuing a fake insurance policy d. misrepresentation on an insurance application
Which of the following is an arrangement by which one party promises to pay a sum of money to policyholder as protection against an adverse or unfavorable occurrence of event? a. Short Term Loans b. Fixed Deposit c. Insurance d. Investment
O C. Waqf O D. Ta'awun 29. 'Premium' in takaful is considered as O A. The price for transferring risks and payment for protection O B. Segregation of risks from the insured to the insurer O C. Absolute protection from illness, accidents and so forth O D. Voluntary contribution to participate in protecting each other against defined loss 30. Which of the following is TRUE under the pillars of a Takaful contract? *
TRUE OR FALSE 1. PFRS 4 SUPERSEDES PFRS 17 2.INSURANCE RISK WILL BE DEEMED SIGNIFICANTLY ONLY IF AN INSURED EVENT COULD CAUSE AN INSURER TO PAY SIGNIFICANT ADDITIONAL BENEFITS IN ANY SCENARIO 3.PFRS 17 APPLIES TO REINSURANCE CONTRACTS 4.AN ISURANCE CONTRACT CANNO CONTAIN MORE THAN 1 NON- INSURANCE COMPONENT
6. Which of the following statements is true?a. No loss contingencies should be disclosed if there is just a reasonable possibility of a loss.b. Indirect guarantees should normally be accrued.c. Losses may be accrued for unasserted claims and other potential unfiled lawsuits.d. In the case of loss contingencies, accrual can be made even if the exact payee and payment date are not
3- Which of the following is an arrangement by which one party promises to pay a sum of money to policyholder as protection against an adverse or unfavorable occurrence of event? a. Investment b. Fixed Deposit c. Insurance d. Short Term Loans

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