Question
A cost that remains unchanged in total, regardless of
changes in the level of activity, within a relevant range is a:Solution
A fixed cost is one whose total amount does not change with changes in the volume of activity over a reasonable range of activity (the relevant range). Examples include rent, managerial salaries, and insurance.
What is NOT a common express condition in an insurance policy?
Which of the following is the benefit accrued to an insured for not making any claims during the previous policy period?
The maturity age of a whole life policy is?
The contractual term for the premium in an insurance contract is known as:
The process of determining the cost of an insurance policy based on the actual loss experience determined as an adjustment to the initial premium paymen...
The principle of construction ensures:
In case of a motor accident, the first step to be taken by the insured is to:
A person named in a life insurance contract to receive the benefits of the policy if other named beneficiaries are not living is referred as ________.
What is accumulation hazard?
Under which type of plans, the sum assured is paid at the end of the term as maturity or on the death of the insured during the term of the policy?
