n NISM Certifications
NSM General NISM
Medium

What is the difference between innocent and fraudulent misrepresentation in insurance?

Practice question from IC 38 Mock Test 16 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Innocent misrepresentation: inaccurate statements with fraudulent intent; fraudulent: false statements without due regard

  2. B

    Innocent misrepresentation: false statements without due regard; fraudulent: inaccurate statements with fraudulent intent

  3. Innocent misrepresentation: false statements without fraudulent intent; fraudulent: false statements with fraudulent intent

    Correct answer

  4. D

    Innocent misrepresentation: accurate statements with fraudulent intent; fraudulent: false statements with fraudulent intent

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

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