Fundamentals Of Insurance BC 117 Questions wit

Fundamentals Of Insurance (BC) (117 Questions wit Answers)
Question : The major function of insurance is:
a. To reduce the cost of the losses
b. To share the losses of the few among the many
c. The safeguard the interest of mortgages
d. To serve as a basis of existing credit system
Correct answer: b. To share the losses of the few among the
many
Question : A peril if best defined as:
a. The chance of a loss
b. The occurrence of a loss
c. The cause of a loss
d. The result of a loss
Correct answer: c. The cause of a loss

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