ISR3701 ASSIGNMENT 4
SEMESTER
2
DUE:22
SEPTEMBER
2025
,Question 1
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A farmer insures his crop for R800 000. Just before harvesting the crop, damage to the value of R500
000 was caused by a run-away fire from a neighbouring farm. The total value of the crop was
estimated to be R1 000 000. If the principle of special condition applies, the insurer will be liable for
...
1.
R 0.
2.
R 500 000.
3.
R 800 000.
4.
R1 000 000.
Question 2
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A motorcar accident is a typical example of … risk.
1.
uninsurable
2.
fundamental
3.
particular
4.
,speculative
Question 3
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A strike in the mining industry is a typical example of a … risk.
1.
dynamic
2.
particular
3.
fundamental
4.
speculative
Question 4
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Absko Manufacturer, which is headquartered in Johannesburg, South Africa, specialises in the
production of automotive components and industrial equipment. The company operates multiple
manufacturing facilities across the country, including a prominent plant located in Polokwane,
Limpopo. Absko has established itself as a key player in the regional manufacturing sector and is
known for its commitment to quality, innovation and operational excellence. During a renewal cycle
for Absko’s a property insurance, which of the following changes in its risk profile would most likely
lead to a significant increase in premiums?
1.
The company has implemented a new employee training programme on fire safety procedures.
2.
The company has expanded its operations to include the storage of highly flammable materials.
3.
, The company has upgraded its security systems with advanced surveillance cameras.
4.
The company has experienced a decrease in revenue due to changing market conditions
Question 5
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Advanced listing …
a. entails the listing of policies due for renewal.
b. are done four months before the renewal date of policies.
c. are a long process completed manually by the claims department.
d. enables the underwriter to rate the claims experience for the policy.
Choose the correct combination:
1.
a,b,c,d
2.
a,d
3.
a,b
4.
b,c,d
Question 6
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Adverse development covers (ADCs) …
1.
SEMESTER
2
DUE:22
SEPTEMBER
2025
,Question 1
Not yet answered
Marked out of 1.00
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Question text
A farmer insures his crop for R800 000. Just before harvesting the crop, damage to the value of R500
000 was caused by a run-away fire from a neighbouring farm. The total value of the crop was
estimated to be R1 000 000. If the principle of special condition applies, the insurer will be liable for
...
1.
R 0.
2.
R 500 000.
3.
R 800 000.
4.
R1 000 000.
Question 2
Not yet answered
Marked out of 1.00
Flag question
Question text
A motorcar accident is a typical example of … risk.
1.
uninsurable
2.
fundamental
3.
particular
4.
,speculative
Question 3
Not yet answered
Marked out of 1.00
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Question text
A strike in the mining industry is a typical example of a … risk.
1.
dynamic
2.
particular
3.
fundamental
4.
speculative
Question 4
Not yet answered
Marked out of 1.00
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Question text
Absko Manufacturer, which is headquartered in Johannesburg, South Africa, specialises in the
production of automotive components and industrial equipment. The company operates multiple
manufacturing facilities across the country, including a prominent plant located in Polokwane,
Limpopo. Absko has established itself as a key player in the regional manufacturing sector and is
known for its commitment to quality, innovation and operational excellence. During a renewal cycle
for Absko’s a property insurance, which of the following changes in its risk profile would most likely
lead to a significant increase in premiums?
1.
The company has implemented a new employee training programme on fire safety procedures.
2.
The company has expanded its operations to include the storage of highly flammable materials.
3.
, The company has upgraded its security systems with advanced surveillance cameras.
4.
The company has experienced a decrease in revenue due to changing market conditions
Question 5
Not yet answered
Marked out of 1.00
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Question text
Advanced listing …
a. entails the listing of policies due for renewal.
b. are done four months before the renewal date of policies.
c. are a long process completed manually by the claims department.
d. enables the underwriter to rate the claims experience for the policy.
Choose the correct combination:
1.
a,b,c,d
2.
a,d
3.
a,b
4.
b,c,d
Question 6
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Adverse development covers (ADCs) …
1.
