n NISM Certifications
NSM General NISM
Medium

What is Utmost Good Faith or "Uberrima fides" in insurance?

Practice question from IC 38 Mock Test 20 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    A principle applied to all commercial contracts

  2. B

    Means "Buyer Beware"

  3. A legal duty to disclose all material information in insurance contracts

    Correct answer

  4. D

    A rule allowing one party to mislead the other

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

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