AMIM Practice Questions - Associate In Marine Insurance Management (AMIM) Exam

The three essential elements required to declare a general average act are:

Collision, salvage, and arbitration A voluntary act, an extraordinary sacrifice or expenditure, and common safety of the venture Seaworthiness, navigability, and timely notice A total loss, a constructive total loss, and abandonment

Correct Answer:

A voluntary act, an extraordinary sacrifice or expenditure, and common safety of the venture

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