BIBF Award For Certified Insurance Practitioner Practice Questions - BIBF Award For Certified Insurance Practitioner (ACIP) Exam

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Under the principle of utmost good faith (uberrima fides), what is the duty of the proposer prior to the inception of an insurance policy?

To disclose all material facts that would influence a prudent underwriter's decision to accept or price the risk To disclose only information specifically requested in the written proposal form To warrant that all future statements will be guaranteed by a financial surety bond To obtain written confirmation from the Central Bank of Bahrain before submitting the proposal

Correct Answer:

To disclose all material facts that would influence a prudent underwriter's decision to accept or price the risk

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