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Business services Quiz-4 Index => Business services Quiz-4 Quiz Show all questions <=   => Which of the following is the main purpose of an endowment policy? ?   To provide financial protection for the insured's family in the event of their death. ?   To provide a lump sum of money to the insured at the end of the policy term. ?   To accumulate a retirement fund for the insured. ?   To provide both financial protection and a lump sum of money to the insured or their beneficiaries A bank overdraft is: ?   A short-term loan that allows a customer to withdraw more money from their account than is currently held. ?   A long-term loan that is secured by collateral. ?   A type of savings account that pays interest on the balance. ?   A type of checking account that charges a monthly fee. A driver is driving down the road when a rock falls from a cliff and hits his windshield. The dri

principles of insurance Quiz-1 Index => principles of insurance Quiz-1 Quiz Show all questions <=   => How does the principle of mitigation benefit both the insured individual and the insurance company? ?   It maximizes the insured's claim payout without affecting the insurance company's costs. ?   It allows the insured to ignore any damage, reducing the need for claims. ?   It reduces the insured's coverage limits, lowering potential claim payouts. ?   It promotes a fair and balanced approach to handling claims, preventing unnecessary losses for both parties. In insurance, what does the principle of cause proxima help determine? ?   The likelihood of an event occurring in the future ?   Whether an insured individual is responsible for the loss ?   The chronological order of events leading to a claim ?   The actual and most dominant cause of a loss or damage What is the