IIQE Paper 2 Practice Questions - IIQE Paper II - General Insurance Examination Exam

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Which of the following is TRUE regarding the transfer of a No Claims Discount (NCD) under a motor insurance policy in Hong Kong?

An NCD can be freely transferred from one policyholder to another unrelated person An NCD can be transferred from a private car policy to a commercial truck policy An NCD is generally personal to the insured and can only be transferred between vehicles owned by the same insured An NCD is automatically transferred to the buyer when a vehicle is sold

Correct Answer:

An NCD is generally personal to the insured and can only be transferred between vehicles owned by the same insured

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