A human being
A) Is an economic asset
B) Is an income earning asset
C) Is a perishable asset
D) All the above
Correct Answer:
Verified
Q12: Insurance is necessary because
A)Assets depreciate over time
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
Q18: _ is a contract between two insures
Q19: The spreading of losses incurred by the
Q20: Freight insurance is under
A)life insurance
B)marine insurance
C)fire insurance
D)other
Q21: Insurance principle does not include
A)principle of indemnity
B)principle
Q22: The term „Risk? includes:
A)Damage to machinery and
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