group policy
whole life policy
endowment policy
term policy
Correct answer is D
Term insurance is a type of life insurance policy that provides coverage for a certain period of time or a specified "term" of years. In this type of insurance policy, the insurance company is not obligated to compensate the policy holder if they do not die within the time frame covered in the agreement
Which of the following are exclusively functions of marketing?
Buying, pricing, selling and promotion
Risk-bearing, storage, production and transporting
Organizing, risk-bearing, transporting and storage
Production, promotion, distribution and recruiting
Correct answer is A
No explanation has been provided for this answer.
The police and the army are engaged in
direct service occupation
indirect service occupation
industrial occupation
primary occupation
Correct answer is B
People in the indirect service occupation are involved in offering services that are not directly consumed by the consumers. They are not paid directly by the consumers but by the government from the public tax.
For instance; military personnel, civil servants, and law makers indirectly serve the public and are paid by the government by tax payers money.
Which of the following is not a function of the commercial bank?
Collection of deposit
Safe custody services
Issuing of currency
Agents of payment
Correct answer is C
Only the central bank is tasked with the responsibility of issuing currency in a country
Life assurance premium is determined by the assured's
educational level
age
reputation
number of children
Correct answer is B
The age of the potential policy holder will determine the premium that would be required to be paid. For instance, a young agile person would be charged a different premium from a weak and aged person because the risk factor is different