Principles of takaful - Study guides, Class notes & Summaries

Principles of takaful Exam Questions and Answers 100% Correct Call - Correct Answer ️️ -Sum of money put into a P&I risk-pool fund

Principles of takaful Exam Questions and Answers 100% Correct Call - Correct Answer ️️ -Sum of money put into a P&I risk-pool fund Gharar - Correct Answer ️️ -uncertainty

Call - Answer-Sum of money put into a P&I risk-pool fund Gharar - Answer-uncertainty Maysir - Answer-Speculation Riba - Answer-usury Qardh-al-hasan - Answer-Interest-free loan

Takaful : Underwriting and Claims Management Exam Questions and Answers 100% Correct Principles of Insurance that can be applied to takaful - Correct Answer ️️ -(1) permissible takaful interest (insureable interest) (2) utmost good faith (3) indemnity (4) subrogation (5) contribution (6) proximate cause. Underwriting - Correct Answer ️️ -Sign and accept liability under an insurance policy, thus guaranteeing payment in case of loss or damage occur. Insureable interest/permissible ...

Takaful : Underwriting and Claims Management Exam Questions and Answers 100% Correct Principles of Insurance that can be applied to takaful - Correct Answer ️️ -(1) permissible takaful interest (insureable interest) (2) utmost good faith (3) indemnity (4) subrogation (5) contribution (6) proximate cause. Underwriting - Correct Answer ️️ -Sign and accept liability under an insurance policy, thus guaranteeing payment in case of loss or damage occur. Insureable interest/permissible ...

Design Defect* - Answer-A flaw or deficiency in the design of a product that makes it unreasonably dangerous to users. Can result in product liability where manufacturers/designers may be held responsible for injuries or damages caused by the defective design. Manufacturing Defect* - Answer-A defect that occurs during the manufacturing process, causing a product to deviate from its intended design. Results in unsafe products and manufacturers may be held liable for harm caused to consumers....

Principles of Insurance that can be applied to takaful - Answer-(1) permissible takaful interest (insureable interest) (2) utmost good faith (3) indemnity (4) subrogation (5) contribution (6) proximate cause. Underwriting - Answer-Sign and accept liability under an insurance policy, thus guaranteeing payment in case of loss or damage occur. Insureable interest/permissible takaful interest - Answer-Basic requirement for insurance company to issue insurance policy. Present by way of ownershi...

Risk Management - Answer-Identification analysis and economic control of those risks which can threaten the assets or earning capacity of an enterprise. Insurable Interest - Answer-The legal right to insure arising out of a financial relationship, recognised at law, the subject matter of insurance. Insurance Contract - Answer-An agreement, enforceable by law, between two or more persons to do, or abstain from, some act or acts, their intention being to create legal relations and not merely ...