n NISM Certifications
NSM General NISM
Medium

When does a fact become “material” in an insurance contract?

Practice question from IC 38 Mock Test 14 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    When already known to the insurer

  2. When it represents greater exposure than normally expected

    Correct answer

  3. C

    When it is not important to the insured

  4. D

    When it relates to the past and not the future

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

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