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Question 20 of 25 The most correct purpose of the proposal form is to... A. elicit information,...

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Finance

Question 20 of 25

The most correct purpose of the proposal form is to...

A. elicit information, elicit a quotation and establish awarranty.

B. elicit information, describe the cover available.

Question 21 of 25

The most correct interpretation of the operative or insuringclause of an insurance policy is that it refers to...

A. payment of premium, indemnify/compensate,payment/replacement/reinstatement, defined events, period ofinsurance, exclusions, conditions, limits per schedule

B. payment of premium, indemnify/compensate,payment/replacement/reinstatement

C. payment/replacement/reinstatement, defined events, period ofinsurance, exclusions

Question 22 of 25

A company has a building valued at R15 000 000. The building isinsured for R10 000 000 by ACME Insurers and R5 000 000 by BCMEInsurers. There was a fire incident at the building with totaldamage of R6 000 000.

How much will BCME pay of the damage?

A. R2 000 000

B. R5 000 000

C. R4 000 000

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