Insurance eliminates or decreases the uncertainty associated with occurrence of an event

Related MCQs

• If the most impossible event is assigned a value of zero, then most inevitable event is assigned a value
• Insurance covers the risk of the most certain event -
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• Which of the statements is correct? A. Insurance is a transfer of risk mechanism. B. Insurance gives physical protection to assets.
• In case of life insurance, insurable insurance should not exist?
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• Motor insurance provides insurance cover to ________
• ________ insurance means an alternative to purchasing insurance in a commercial market.
• Re-insurance Treaties can be used for ________ re-insurance
• A Re-insurance of Re-insurance refers to