In which of the following cases is insurable interest not present?

A A person insuring his own life
B A father taking out a life policy on the life of his son
C A person insuring his colleague
D An employer taking a life insurance policy on his employees

Correct Answer: A person insuring his colleague

For purposes of life insurance, everyone is considered to have an insurable interest in their own lives as well as the lives of their spouses and dependents. Employer also has an insurable interest on the life of his employees. Insurable interest is not present in the life of a colleague.
Bissoy MCQ
#Commerce #Insurance

Related Questions

In which of the following cases does insurable interest not exist?
A Spouse
B Business partner
C Tenant
D Self
According to common law, when should insurable interest be present in a life insurance contract?
A At the time of taking policy
B At the time of claim
C Both A & B
D None of the above
When is it essential for insurable interest to be present in case of life insurance?
A At the time of taking out insurance
B At the time of claim
C Insurable interest is not required in case of life insurance
D Either at time of policy purchase or at the time of claim
According to common law, when should insurable interest be present in a general insurance contract?
A At the time of taking policy
B At the time of claim
C Both A & B
D None of the above
Which of the following is not correct with regards to insurable interest?
A Father taking out insurance policy on his son
B Spouses taking out insurance on one another
C Friends taking out insurance on one another
D Employer taking out insurance on employees
নৌ বিমার আহাজ ভাড়া পণ্য পৌঁছানোর পর পরিশোধ করা হলে, জাহাজ ভাড়ায় কার বিমাযোগ্য স্বার্থ বিদ্যমান? (Who has insurable interest on freight in marine insurance if the freight is paid after arriving goods at the destination?)
A বন্দর কর্তৃপক্ষের (Port Authority)
B ক্লিয়ারিং এন্ড ফরওয়ার্ডিং এজেন্টের (Clearing and Forwarding Agent)
C পণ্য মালিকের (Cargo Owner)
D শিপিং কোম্পানির (Shipping Company)
For a household insurance policy, insurable interest need only exist at outset and at what other point?
A The date the cancellation period expires
B The date a claim occurs
C The date the policy document is received
D The termination date
Rahul is employed by Sunny. In respect of this employment, Rahul automatically has an insurable interest in Sunny’s life up to what limit, if any?
A Rahul's monthly salary
B Rahul's pension fund value
C Sunny's annual profit
D There is no limit
কোনটি বিমাযোগ্য বিশুদ্ধ ঝুঁকির উদাহরণ? (Which of the following is the example of insurable pure risk?)
A চুরি (Theft)
B শেয়ার বাজারে ক্ষতি (Loss in the Stock Market)
C অভিমারি (Pandemic)
D রাজনৈতিক অস্থিরতা (Political Unrest)
Reena took a loan of Tk. 1200 with simple interest for as many years as the rate of interest. If she paid Tk. 432 as interest at the end of the loan period, what was the rate of interest?
A 3.6
B 6
C 18
D None of these

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