Match List I with List II

List I

Insurance contracts  

List II

Presence (time) of insurable interest  

(A)

Marine insurance 

(I)

Both at the time of contract as well at the loss of subject matter

(B)

Life insurance 

(II)

Throughout the contract of insurance 

(C)

Fire insurance 

(III)

At the time of loss of the subject matter 

(D)

General insurance 

(IV)

At the time of insurance contract effected 

Choose the correct answer from the options given below: 

This question was previously asked in
UGC NET Paper 2: Commerce 4th March 2023 Shift 2
View all UGC NET Papers >
  1. A - IV, B - II, C - III, D - I
  2. A - III, B - IV, C - I, D - II
  3. A - I, B - IV, C - II, D - III
  4. A - III, B - I, C - IV, D - II

Answer (Detailed Solution Below)

Option 2 : A - III, B - IV, C - I, D - II
Free
UGC NET Paper 1: Held on 21st August 2024 Shift 1
8.7 K Users
50 Questions 100 Marks 60 Mins

Detailed Solution

Download Solution PDF

The correct answer is A - III, B - IV, C - I, D - II.

Key Points

  • Marine Insurance:
    • This insurance covers damage or loss of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination.
    • It's crucial for businesses involved in shipping or receiving goods by sea.
  • Life Insurance:
    • This insurance provides a monetary benefit to a person's dependents or nominated beneficiaries if that person dies.
    • It's a contract between a policyholder and an insurer, where the insurer promises to pay a designated sum of money upon the policyholder's death.
    • It's a way for people to offer financial support to loved ones after they're gone.
  • Fire Insurance:
    • This insurance covers damage or loss to a property because of a fire.
    • It can cover the cost of repair or even rebuilding depending on the specifics of the policy.
    • It gives property owners a financial safety net if a fire damages their property.
  • General Insurance:
    • General insurance is a broad term for insurance policies other than life insurance.
    • It includes things like motor insurance, health insurance, travel insurance, and home insurance.
    • These policies provide payments depending on the loss from a particular financial event.
Latest UGC NET Updates

Last updated on Jun 6, 2025

-> The UGC NET Exam Schedule 2025 for June has been released on its official website.

-> The UGC NET Application Correction Window 2025 is available from 14th May to 15th May 2025.

-> The UGC NET 2025 online application form submission closed on 12th May 2025.

-> The June 2025 Exam will be conducted from 21st June to 30th June 2025

-> The UGC-NET exam takes place for 85 subjects, to determine the eligibility for 'Junior Research Fellowship’ and ‘Assistant Professor’ posts, as well as for PhD. admissions.

-> The exam is conducted bi-annually - in June and December cycles.

-> The exam comprises two papers - Paper I and Paper II. Paper I consists of 50 questions and Paper II consists of 100 questions. 

-> The candidates who are preparing for the exam can check the UGC NET Previous Year Papers and UGC NET Test Series to boost their preparations.

More Insurance Questions

Get Free Access Now
Hot Links: teen patti joy teen patti diya teen patti tiger teen patti cash game