In regards to insurance, “A policy provision that allows a policy to be restored from a lapsed status and resume active coverage” is termed as?
A. Reaffirmation
B. Reinsurance
C. Reinstatement
D. Revocation
Answer: Option C
Related Questions on Banking Awareness miscellaneous
A. Bombay Stock Exchange
B. Delhi Stock Exchange
C. Calcutta Stock Exchange
D. Bangalore Stock Exchange
Which of the following is not a function of General Insurance?
A. Cattle Insurance
B. Crop Insurance
C. Fire Insurance
D. Medical Insurance
Liability- side of the balance-sheet comprises:
A. Capital and reserve
B. Long-term liabilities
C. Current liabilities
D. All of the above
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