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I borrow 100 euros from you and promise to pay you back next year the principal and 10%. That means I owe you 110 euros next year. I now unilaterally declare that I will only honour 25 euros of debt to you. Next period I pay you 27.5 euros [25 + 1/4(10)]. That is the same amount as though announcing to you next period that I would tax your 110 euros 75% (i.e., you keep only .25*110=27.5)
The Motor Vehicles Act, 1988 requires what document as proof of insurance?
Which of the following does NOT form a part of “Book” price calculation?
The Insurance Institute of India (Regd.) formerly known as?
In order to monitor and control solvency requirements, it has been made mandatory to the insurers to submit solvency report on _______ basis.
Which of the following principles of Insurance enables the insured to claim the amount from the third party responsible for the loss?
What is the primary method to calculate the pure premium for a group of insured?
What is the maximum Time in which the insurer should settle a claim when all documents are submitted?
An extension of endowment plans is known as which policy?
As per Rule 141 of Central Motor Vehicle Rules 1989, a certificate of Insurance is to be issued only in Form _____.
A policy that covers the risk of theft of goods from a shop is: