O-LevelCommerceInsurance7100/11 · Oct/Nov 2013 · Q311 Mark

What does the insurance principle of utmost good faith mean?

AAll matters relating to the insurance contract are disclosed.

BThe insured does not gain from a loss.

CThe insured has insurable interest.

DThe risk insured against is insurable.

✓ Correct answer

A: All matters relating to the insurance contract are disclosed.

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Topic: Insurance, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, Oct/Nov 2013 Paper 1 Variant 1, question 31.

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