Insurance - Study Mode

[#301] Raunak recently arranged a life insurance policy under which he is classed as the master policyholder. This addresses his role as
Correct Answer

(D) An employer

Explanation

Solution: Raunak recently arranged a life insurance policy under which he is classed as the master policyholder. This addresses his role as an employer.

[#302] The need for investment advice from an insurance agent normally results from what overriding key factor?
Correct Answer

(C) Lack of market knowledge

Explanation

Solution: The need for investment advice from an insurance agent normally results from lack of market knowledge.

[#303] When undertaking financial planning for individuals without capital, what savings need is likely to be addressed in every single case?
Correct Answer

(A) Emergency funds

Explanation

Solution: When undertaking financial planning for individuals without capital, Emergency funds savings need is likely to be addressed in every single case. An emergency fund is money that you have set aside to specifically cover any unexpected expenses that may come up.

[#304] Naveen is addressing his income needs by investing directly in corporate bonds. In what form will he receive this income?
Correct Answer

(C) Interest payments

Explanation

Solution: Naveen is addressing his income needs by investing directly in corporate bonds. By Interest payments for he will receive this income.

[#305] Which policy referring to policies that provide coverage only for the loss caused by the perils?
Correct Answer

(B) Named Perils

Explanation

Solution: Named Perils is a property insurance term referring to policies that provide coverage only for the loss caused by the perils specifically listed as covered.