n NISM Certifications
NSM General NISM
Medium

What is Key-man Insurance?

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

Options

  1. A

    An insurance policy taken out by an individual to compensate for financial losses from the death of a family member

  2. An insurance policy taken out by a business to compensate for financial losses from the death of an important member of the business

    Correct answer

  3. C

    An insurance policy taken out by a business to compensate for financial losses from the death of a customer

  4. D

    An insurance policy taken out by a business to compensate for financial losses from the loss of a contract

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

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