n NISM Certifications
NSM General NISM
Medium

What is the importance of warranties in an insurance policy?

Practice question from IC 38 Mock Test 10 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Determine premium amount

  2. Non-fulfillment may lead to cancellation or reduced liability

    Correct answer

  3. C

    Non-binding, can be overlooked

  4. D

    Only applicable to health insurance

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

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