n NISM Certifications
NSM General NISM
Medium

What is the characteristic of the insurance cover that pays a fixed sum?

Practice question from IC 38 Mock Test 7 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Claim amount based on the amount spent on treatment

  2. B

    Claim amount determined by the policyholder's age

  3. Claim amount is a fixed sum regardless of actual expenses

    Correct answer

  4. D

    Claim amount based on the insurance company's profits

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

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