Indemnity – NBC Institute

BL – Nov 2020 – L1 – SA – Q10 – Agency Law

Objective question on the right of an agent to be reimbursed for expenses incurred in duty.

Question

10. The right of an agent to be reimbursed for expenses incurred in performing his authorised duties is called
A. Remuneration
B. Compensation
C. Indemnity
D. Salary
E. Commission

Answer

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Tags: Agency Law, Agent Rights, Compensation, Indemnity, Reimbursement
Level: Level 1

Topic: Agency Law
Series: NOV 2020

BL – Nov 2011 – L1 – SA – Q2 – Law of Contract

Identify the process where the insurer is substituted into the insured's rights after claim payment.

Question

After payment of the insured’s claim, the substitution of the insurer to all the insured’s rights is called:
A. Indemnity
B. Act policy
C. Subrogation
D. Insurable interest
E. Claim note

Answer

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Tags: Indemnity, Insurance, Rights of Insurer, Subrogation
Level: Level 1

Topic: Law of Contract
Series: NOV 2011

BL – Nov 2011 – L1 – SA – Q1 – Law of Contract

Identify the party in a contract of insurance that pays the premium for indemnity.

Question

In a contract of insurance, the party that pays the premium in return for the insurer’s promise of indemnity is the:
A. Insurance company
B. Insurer
C. Contractor
D. Insured
E. Third party

Answer

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Tags: Indemnity, Insurance Contract, Insured, Insurer, Premium Payment
Level: Level 1

Topic: Law of Contract
Series: NOV 2011

BL – Nov 2013 – L1 – SA – Q10 – Law Relating to Banking

Examines indemnity in an insurance contract.

Question

In an Insurance contract, the insured is indemnified on payment of the

A. Price
B. Premium
C. Interest
D. Discount
E. Instalment

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contracts, Indemnity, Insurance Law, Multiple Choice
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2013

BL – Nov 2023 – L1 – SA – Q16 – Agency Law

This question asks about the general nature of insurance contracts.

Question

Generally, an insurance contract is one of:
A. Indenture
B. Restoration
C. Profit making
D. Indemnity
E. Security

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Indemnity, Insurance Contracts
Level: Level 1

Topic: Agency Law
Series: NOV 2023

BL – May 2023 – L1 – SA – Q8 – Employment Law

Identify the employer's obligation when an employee incurs expenses on behalf of the organization.

Question

Where an employee incurs expenses on behalf of his employer in his normal course of duty, he must be:

A. Penalised
B. Indemnified
C. Surcharged
D. Admonished
E. Sanctioned

Answer

Find Related Questions by Tags, levels, etc.

Tags: Employee Expenses, Employer Obligations, Indemnity
Level: Level 1

Topic: Employment law
Series: MAY 2023

BL – May 2017 – L1 – SA – Q16 – Law of Contract

Identifies the type of contract that involves indemnity for an event bound to happen.

Question

A contract to pay indemnity for an event that is bound to happen is called
A. Suretyship
B. Guarantee
C. Insurance
D. Assurance
E. Protection

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract Law, Indemnity, Insurance, Legal Agreements
Level: Level 1

Topic: Law of Contract
Series: MAY 2017

BL – March July 2020 – L1 – SB – Q6a – Law of Contract

Explains the three essential elements of an insurance contract under the law of indemnity.

Question

Insurance contract is a contract of indemnity.

Required:
State and explain briefly THREE essential elements of an insurance contract.

Answer

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Tags: Contract Law, Essential Elements, Indemnity, Insurance Contracts
Level: Level 1

Topic: Law of Contract
Series: MAR/JULY 2020

BL – Nov 2020 – L1 – SA – Q10 – Agency Law

Objective question on the right of an agent to be reimbursed for expenses incurred in duty.

Question

10. The right of an agent to be reimbursed for expenses incurred in performing his authorised duties is called
A. Remuneration
B. Compensation
C. Indemnity
D. Salary
E. Commission

Answer

Find Related Questions by Tags, levels, etc.

Tags: Agency Law, Agent Rights, Compensation, Indemnity, Reimbursement
Level: Level 1

Topic: Agency Law
Series: NOV 2020

BL – Nov 2011 – L1 – SA – Q2 – Law of Contract

Identify the process where the insurer is substituted into the insured's rights after claim payment.

Question

After payment of the insured’s claim, the substitution of the insurer to all the insured’s rights is called:
A. Indemnity
B. Act policy
C. Subrogation
D. Insurable interest
E. Claim note

Answer

Find Related Questions by Tags, levels, etc.

Tags: Indemnity, Insurance, Rights of Insurer, Subrogation
Level: Level 1

Topic: Law of Contract
Series: NOV 2011

BL – Nov 2011 – L1 – SA – Q1 – Law of Contract

Identify the party in a contract of insurance that pays the premium for indemnity.

Question

In a contract of insurance, the party that pays the premium in return for the insurer’s promise of indemnity is the:
A. Insurance company
B. Insurer
C. Contractor
D. Insured
E. Third party

Answer

Find Related Questions by Tags, levels, etc.

Tags: Indemnity, Insurance Contract, Insured, Insurer, Premium Payment
Level: Level 1

Topic: Law of Contract
Series: NOV 2011

BL – Nov 2013 – L1 – SA – Q10 – Law Relating to Banking

Examines indemnity in an insurance contract.

Question

In an Insurance contract, the insured is indemnified on payment of the

A. Price
B. Premium
C. Interest
D. Discount
E. Instalment

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contracts, Indemnity, Insurance Law, Multiple Choice
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2013

BL – Nov 2023 – L1 – SA – Q16 – Agency Law

This question asks about the general nature of insurance contracts.

Question

Generally, an insurance contract is one of:
A. Indenture
B. Restoration
C. Profit making
D. Indemnity
E. Security

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Indemnity, Insurance Contracts
Level: Level 1

Topic: Agency Law
Series: NOV 2023

BL – May 2023 – L1 – SA – Q8 – Employment Law

Identify the employer's obligation when an employee incurs expenses on behalf of the organization.

Question

Where an employee incurs expenses on behalf of his employer in his normal course of duty, he must be:

A. Penalised
B. Indemnified
C. Surcharged
D. Admonished
E. Sanctioned

Answer

Find Related Questions by Tags, levels, etc.

Tags: Employee Expenses, Employer Obligations, Indemnity
Level: Level 1

Topic: Employment law
Series: MAY 2023

BL – May 2017 – L1 – SA – Q16 – Law of Contract

Identifies the type of contract that involves indemnity for an event bound to happen.

Question

A contract to pay indemnity for an event that is bound to happen is called
A. Suretyship
B. Guarantee
C. Insurance
D. Assurance
E. Protection

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract Law, Indemnity, Insurance, Legal Agreements
Level: Level 1

Topic: Law of Contract
Series: MAY 2017

BL – March July 2020 – L1 – SB – Q6a – Law of Contract

Explains the three essential elements of an insurance contract under the law of indemnity.

Question

Insurance contract is a contract of indemnity.

Required:
State and explain briefly THREE essential elements of an insurance contract.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract Law, Essential Elements, Indemnity, Insurance Contracts
Level: Level 1

Topic: Law of Contract
Series: MAR/JULY 2020

Question Tag: Indemnity

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BL – Nov 2020 – L1 – SA – Q10 – Agency Law

Objective question on the right of an agent to be reimbursed for expenses incurred in duty.

You're reporting an error for "BL – Nov 2020 – L1 – SA – Q10 – Agency Law"

BL – Nov 2011 – L1 – SA – Q2 – Law of Contract

Identify the process where the insurer is substituted into the insured's rights after claim payment.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q2 – Law of Contract"

BL – Nov 2011 – L1 – SA – Q1 – Law of Contract

Identify the party in a contract of insurance that pays the premium for indemnity.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q1 – Law of Contract"

BL – Nov 2013 – L1 – SA – Q10 – Law Relating to Banking

Examines indemnity in an insurance contract.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q10 – Law Relating to Banking"

BL – Nov 2023 – L1 – SA – Q16 – Agency Law

This question asks about the general nature of insurance contracts.

You're reporting an error for "BL – Nov 2023 – L1 – SA – Q16 – Agency Law"

BL – May 2023 – L1 – SA – Q8 – Employment Law

Identify the employer's obligation when an employee incurs expenses on behalf of the organization.

You're reporting an error for "BL – May 2023 – L1 – SA – Q8 – Employment Law"

BL – May 2017 – L1 – SA – Q16 – Law of Contract

Identifies the type of contract that involves indemnity for an event bound to happen.

You're reporting an error for "BL – May 2017 – L1 – SA – Q16 – Law of Contract"

BL – March July 2020 – L1 – SB – Q6a – Law of Contract

Explains the three essential elements of an insurance contract under the law of indemnity.

You're reporting an error for "BL – March July 2020 – L1 – SB – Q6a – Law of Contract"

BL – Nov 2020 – L1 – SA – Q10 – Agency Law

Objective question on the right of an agent to be reimbursed for expenses incurred in duty.

You're reporting an error for "BL – Nov 2020 – L1 – SA – Q10 – Agency Law"

BL – Nov 2011 – L1 – SA – Q2 – Law of Contract

Identify the process where the insurer is substituted into the insured's rights after claim payment.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q2 – Law of Contract"

BL – Nov 2011 – L1 – SA – Q1 – Law of Contract

Identify the party in a contract of insurance that pays the premium for indemnity.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q1 – Law of Contract"

BL – Nov 2013 – L1 – SA – Q10 – Law Relating to Banking

Examines indemnity in an insurance contract.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q10 – Law Relating to Banking"

BL – Nov 2023 – L1 – SA – Q16 – Agency Law

This question asks about the general nature of insurance contracts.

You're reporting an error for "BL – Nov 2023 – L1 – SA – Q16 – Agency Law"

BL – May 2023 – L1 – SA – Q8 – Employment Law

Identify the employer's obligation when an employee incurs expenses on behalf of the organization.

You're reporting an error for "BL – May 2023 – L1 – SA – Q8 – Employment Law"

BL – May 2017 – L1 – SA – Q16 – Law of Contract

Identifies the type of contract that involves indemnity for an event bound to happen.

You're reporting an error for "BL – May 2017 – L1 – SA – Q16 – Law of Contract"

BL – March July 2020 – L1 – SB – Q6a – Law of Contract

Explains the three essential elements of an insurance contract under the law of indemnity.

You're reporting an error for "BL – March July 2020 – L1 – SB – Q6a – Law of Contract"

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