New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    What is the purpose of a "warranty" in an insurance

    policy?
    A To guarantee the truth of a specific statement Correct Answer Incorrect Answer
    B To provide a list of exclusions Correct Answer Incorrect Answer
    C To define the scope of coverage Correct Answer Incorrect Answer
    D To outline the policyholder's responsibilities Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    A warranty is a specific promise or guarantee made by the insured in the insurance application. Breach of a warranty can affect the validity of the insurance contract.

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