Business Studies

Write short notes on the following : 
Average policy.


SOLUTION
Average policy refers to a policy followed in fire insurance which states that the insurance company will only pay the rate able proportion of loss which means that if the sum insured is less than the actual amount of loss then the insurance company will only pay to sum of the assets which were insured and occurred loss. 
View Answers

You're just one step away

Create your Digital Resume For FREE on your name's sub domain "yourname.wcard.io". Register Here!


Subjective Medium Published on 18th 08, 2020
Next Question
Questions 244531
Subjects 8
Chapters 125
Enrolled Students 199
Enroll Now For FREE

Realted Questions

Q1 Single Correct Medium
The principle of indemnity does not apply to __________.
  • A. Burglary insurance
  • B. Fire Insurance
  • C. Marine Insurance
  • D. Life and Personal Accident insurance

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q2 Single Correct Medium
The person who presides over the meeting is called ___________.
  • A. Director
  • B. Secretary
  • C. Chairman
  • D. None of these

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q3 Single Correct Medium
MIS normally found in a manufacturing organization will not be suitable in the ______.
  • A. Service sector
  • B. Banking sector
  • C. Agriculture sector
  • D. Transportation

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q4 TRUE/FALSE Medium
Main part of a letter is the body of the letter.
  • A. True
  • B. False

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q5 Single Correct Medium
The simultaneous activity of production and consumption of services is called _____________.
  • A. Inventory
  • B. Inconsistency
  • C. Inseparability
  • D. Intangibility

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer