n NISM Certifications
NSM General NISM
Medium

Which of the following statements about conditions in insurance policies is correct?

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

Options

  1. A

    Conditions are always waived in extreme cases of hardship.

  2. A breach of condition results in immediate policy cancellation.

    Correct answer

  3. C

    Conditions are optional and can be overlooked by the insured.

  4. D

    Conditions are not mentioned in policy wordings.

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

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