Insurance - Study Mode

[#306] A coverage that protects businesses engaged in electronic commerce from losses caused by hackers is termed as _________
Correct Answer

(C) Hacker Insurance

Explanation

Solution: A coverage that protects businesses engaged in electronic commerce from losses caused by hackers is termed as Hacker Insurance.

[#307] Coverage against loss through stealing by individuals not in a position of trust is called _________
Correct Answer

(D) Theft Insurance

Explanation

Solution: Coverage against loss through stealing by individuals not in a position of trust is called Theft Insurance. Theft-insurance contracts cover losses from burglary, robbery, and other theft.

[#308] If Assets are undervalued it would result in –
Correct Answer

(B) Less surplus

Explanation

Solution: If Assets are undervalued it would result in less surplus.

[#309] If liabilities are overvalued, it would result in –
Correct Answer

(B) Less bonuses to the present policyholders

Explanation

Solution: If liabilities are overvalued, it would result in less bonuses to the present policyholders.

[#310] If Assets/Liabilities are liberally valued, it would benefit –
Correct Answer

(A) Current policyholders

Explanation

Solution: If Assets/Liabilities are liberally valued, it would benefit current policyholders. Current policyholders would be benefited at the expense of future ones.