Assam ASSEB HS Class 11-12 Insurance Practice Questions - Assam State School Education Board (ASSEB AHSEC) Higher Secondary Insurance Examination Exam - Assam ASSEB HS Class 11-12 Insurance Practice Questions - Assam State School Education Board (ASSEB AHSEC) Higher Secondary Insurance Examination Exam

Question 1

Which legal principle of insurance requires both the insured and the insurer to disclose all material facts fully and accurately before entering into an insurance contract?

Principle of Subrogation Principle of Utmost Good Faith (Uberrimae Fides) Principle of Contribution Principle of Causa Proxima

Correct Answer:

Principle of Utmost Good Faith (Uberrimae Fides)

Question 2

What is defined as a 'material fact' in an insurance proposal?

Any detail that would influence a prudent underwriter in deciding whether to accept a risk and at what premium The insured's personal religious beliefs and political opinions Information that is already a matter of common public knowledge Any fact that reduces the risk of loss below zero

Correct Answer:

Any detail that would influence a prudent underwriter in deciding whether to accept a risk and at what premium

Question 3

According to the principle of Insurable Interest, when must insurable interest exist in a Life Insurance contract in India?

Only at the time when the loss/death occurs At the time of taking the policy, but not necessarily at the time of claim Continuously at every monthly premium payment date Insurable interest is not required at all for life insurance

Correct Answer:

At the time of taking the policy, but not necessarily at the time of claim

Question 4

When must insurable interest exist in a Fire Insurance contract?

Only at the time of taking the policy Both at the time of taking the policy and at the time of loss Only at the time when the fire loss occurs Only when the policy is renewed

Correct Answer:

Both at the time of taking the policy and at the time of loss

Question 5

Which insurance principle ensures that the insured does not make a profit from a loss and is placed in the same financial position after a loss as immediately before it?

Principle of Indemnity Principle of Subrogation Principle of Insurable Interest Principle of Uberrimae Fides

Correct Answer:

Principle of Indemnity

Question 1

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Prepare with the Assam ASSEB HS Class 11-12 Insurance Practice Questions - Assam State School Education Board (ASSEB AHSEC) Higher Secondary Insurance Examination Exam practice quiz. This question bank includes 100 questions covering insurance, policy, life, fire, and insured. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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Assam ASSEB HS Class 11-12 Insurance Practice Questions - Assam State School Education Board (ASSEB AHSEC) Higher Secondary Insurance Examination Exam

This practice set contains 100 questions from the matching question bank and focuses on insurance, policy, life, fire, and insured. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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Assam ASSEB HS Class 11-12 Insurance Practice Questions - Assam State School Education Board (ASSEB AHSEC) Higher Secondary Insurance Examination Exam

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