Question

In relation to insurance sector, what is the full form of FPR?

A Free Premium Receipt Correct Answer Incorrect Answer
B First Premium Receipt Correct Answer Incorrect Answer
C First Pay Receipt Correct Answer Incorrect Answer
D First Premium Report Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

After receiving the payment, the insurance company issues the First Premium Receipt, which acknowledges the proposal of the life-assured. It is known as FPR. 

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