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FIP 2
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The major function of insurance is: 
 
a. To reduce the cost of the losses 
b. To share the losses of the few among the many 
c. The safeguard the interest of mortgages 
d. To serve as a basis of existing credit system 
b. To share the losses of the few among the many 
 
 
 
A peril if best defined as: 
 
a. The chance of a loss 
b. The occurrence of a loss 
c. The cause of a loss 
d. The result of a loss 
c. The cause of a loss 
 
 
 
Indemnify means: 
 
a. Returning the premium of the insured ...
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