When an insurance company indemnifies the insured and takes over his rights, this is known as?
abandonment
subrogation
proximate cause
contribution
Correct answer is B
No explanation has been provided for this answer.
A retirement insurance policy which enables the assured to receive income for a specific period is?
annuity
endowment
whole life
fidelity guarantee
Correct answer is A
No explanation has been provided for this answer.
Which of the following services is not rendered by commercial banks?
Business advice
Currency notes issue
Accepting deposits
Credit transfer
Correct answer is B
No explanation has been provided for this answer.
Which of the following encourages people to save towards owning a house?
Merchant bank
Development bank
Mortgage bank
Commercial bank
Correct answer is C
No explanation has been provided for this answer.
Which of the following is a means of payments through the post office?
Standing Order
Promissory note
Money order
Telegraphic transfer
Correct answer is C
No explanation has been provided for this answer.