n NISM Certifications
NSM General NISM
Medium

What is premium in insurance?

Practice question from IC 38 Mock Test 19 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    The consideration or amount paid by the insurer to the insured

  2. B

    The amount paid by the agent to the insurer for selling policies

  3. The consideration or amount paid by the insured to the insurer for insuring the subject matter of insurance

    Correct answer

  4. D

    The amount paid by the insurer to the agent for bringing in new customers

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

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