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Let the sum of money be Rs. P. SI = Rs. 320, T = 2/3 year and R = 4% SI = (P × R × T)/100 ⇒ 320 = P × (4/100) × (2/3) ⇒ P = Rs. 12000
_________is a sum of money paid by an employer to an employee for services rendered in the company
Which of the following is an example of Broad Form Insurance?
A method of permitting the final premium for a risk to be adjusted, subject to an agreed-upon maximum and minimum limit based on actual loss experience ...
An environment where insurance is plentiful and sold at a lower cost, also known as a Buyer’s market is called?
Failure to disclose material facts can make the policy:
The first unit-linked insurance plan (ULIP) was launched by which of these countries?
What is the purpose of classifying risks in underwriting?
What is NOT an element of an insurance contract?
Identify the correct full form of GAAT?
A policy that covers the loss of baggage during travel is:
