n NISM Certifications
NSM General NISM
Medium

What is the uncertainty associated with general insurance contracts?

Practice question from IC 38 Mock Test 13 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    The amount of benefit to be paid in the event of death is fixed at the beginning of the contract.

  2. The concerned risk event is uncertain.

    Correct answer

  3. C

    The probability of the event happening increases with time.

  4. D

    General insurance policies are contracts of assurance.

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

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