Q. What is the legal pre-requisite for every insurance contract?

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Q. What does the principle of "Indemnity" ensure in insurance?

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Q. What does "Subrogation" mean in insurance?

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Q. What does the principle of "Contribution" imply in insurance?

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Q. What is the "Proximate Cause" principle in insurance primarily concerned with?

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Q. What is the principle of "Uberrima Fides" in insurance primarily concerned with?

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Q. In the context of insurance, what does "Caveat Emptor" mean?

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Q. How does the duty of Utmost Good Faith differ in insurance contracts compared to commercial contracts?

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Q. What happens if either party involved in an insurance contract does not observe Utmost Good Faith?

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Q. What is a "material fact" in the context of an insurance contract?

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Q. Who has the legal duty of Utmost Good Faith in insurance contracts?

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Q. Which of the following scenarios involves a material fact that should be disclosed in a life insurance proposal?

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Q. In a fire insurance proposal, which of the following is considered a material fact?

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Q. What type of material information should be disclosed in a marine insurance proposal?

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Q. When proposing motor insurance, what information should be disclosed as a material fact?

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Q. In the context of health insurance, which of the following is considered a material fact?

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Q. Why are questions in the proposal form for insurance considered material facts?

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Q. In which of the following scenarios do material facts need not be disclosed?

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Q. Which of the following is a situation in which the insured has no obligation to disclose material facts unless specifically asked by the underwriters?

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Q. In the case of insurance contracts, when does the duty to disclose material facts extend?

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