n NISM Certifications
NSM General NISM
Medium

What does “sum insured” refer to in an insurance policy?

Practice question from IC 38 Mock Test 12 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    The premium payable

  2. The amount the insurer will pay in case of a claim

    Correct answer

  3. C

    The administrative fee of the policy

  4. D

    The amount already claimed

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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