Insurance is necessary because
A) Assets depreciate over time and through usage
B) Assets may be damaged by external causes
C) Assets require regular maintenance
D) None of the above
Correct Answer:
Verified
Q7: Life Insurance Corporation of India headquarter is
Q8: Insurance works on the principle of
A)Sharing of
Q9: The principle of _ensures that an insured
Q10: Insurance is meant to
A)Prevent specified events
B)Prevent damage
Q11: Insurance compensate losses
A)By replacing the original asset
B)To
Q13: Insurance works on the principle of
A)Sharing
B)Probabilities
C)Large numbers
D)All
Q14: Insurance works on the principle of
A)Trust
B)Sharing
C)Randomness
D)All the
Q15: The amount of insurance depends on
A)Peril
B)The risk
C)Neither
Q16: Insurance benefits replace
A)All physical losses in full
B)All
Q17: A human being
A)Is an economic asset
B)Is an
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