n NISM Certifications
NSM General NISM
Medium

What is an insurance contract?

Practice question from IC 38 Mock Test 3 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Legal agreement for exchange of goods and services

  2. Agreement to share risks

    Correct answer

  3. C

    Promise by insurer to provide financial protection for a price

  4. D

    None of the above

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

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