Ms. Smita has set-up a Reserve Fund, to be used for the Repairs, in Case, the House is damaged for Some Reason. Identify the Risk-Management Technique, practiced here.

Related MCQs

• Mr. Poddar has used Insulated Wiring in His House, so as to Reduce the Chances of Damage, Due to Fire. Identify the Risk-Management Technique, practiced here.
• Mr. Suresh has purchased a Life Assurance Policy, so that, His Family-Members do not have to depend on Any-One, in Case of His Un-Timely Death. Identify the Risk-Management Technique, practiced here.
• Ms. Shaheen refuses to go on a Business-Trip to Iraq, because of Violence in the Destination Country. Identify the Risk-Management Technique, practiced here.
• Mr. Mahesh takes out an Insurance Policy on His House. He sells His House, After a Couple of Months of taking the Policy. In Case, there is Some Damage to the House, can Mr. Mahesh receive the Claim?
• The Inhabitants of Rhodes adopted a Practice, where- by, if Some Goods were lost due to Jettisoning, during Distress, the Owners of Goods (even those who lost Nothing) would bear the Losses in Some Proportion. Which Phenomenon is illustrated, in this Scenario?
• Identify the Factor, impacting the Risk, in Case of Insurance.
• Analyse the Following Two Statements, and Determine the True One(s): Statement-I: The Contingent-Event occurs Certainly, in Case of General Insurance. Statement-II: The Contingent-Event occurs Certainly, in Case of Life Assurance.
• Identify the Formal Legal Document, used by Insurance Companies, that provides the Details about the Product. Choose the Most Appropriate Option.
• Mr. Rahul had purchased an Insurance-Cover, from ABC Insurance Company, for a Period of 20 Years. On Completion of 20 Years, the Company pays Fund-Value to Mr. Rahul, as the Maturity-Claim. Which Type of Plan, was taken, by Mr. Rahul?
• Select a Reason, for Discharging a Contract, Under Common Law.