Money Insurance
Resumen
Every trader who banks a day's takings, every school that pays its staff in cash, and every filling station that empties its tills at night faces the same quiet danger: the moment cash leaves the drawer it can be snatched, and once it is gone it is gone. Money insurance is the cover built for exactly that danger. It protects cash and cash-like documents against robbery, theft and loss, whether the money is moving to the bank, sitting on the counter, or locked in the safe overnight.
In this lesson you will learn what the policy actually treats as ‘money’ (it is far wider than notes and coins), the separate sections of cover that follow the cash from place to place, the limits and conditions that decide how much the insurer really pays, and who in the Nigerian market cannot trade safely without this policy. You will settle the calculations examiners set on carrying limits and safe limits, and learn the one distinction, money insurance against fidelity guarantee, that catches candidates every year.
Objetivos
- Explain what constitutes money for the purpose of a money insurance policy
- Describe the types of cover available, including money in transit and money in a safe
- Explain the limits and conditions commonly applied to money insurance
- Identify the typical buyers of money insurance and explain their exposure
Nota de la lección
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Evaluación de la lección
Felicitaciones por completar la lección del Money Insurance. Ahora que has explorado el conceptos e ideas clave, es hora de poner a prueba tus conocimientos. Esta sección ofrece una variedad de prácticas Preguntas diseñadas para reforzar su comprensión y ayudarle a evaluar su comprensión del material.
Te encontrarás con una variedad de tipos de preguntas, incluyendo preguntas de opción múltiple, preguntas de respuesta corta y preguntas de ensayo. Cada pregunta está cuidadosamente diseñada para evaluar diferentes aspectos de tu conocimiento y habilidades de pensamiento crítico.
Utiliza esta sección de evaluación como una oportunidad para reforzar tu comprensión del tema e identificar cualquier área en la que puedas necesitar un estudio adicional. No te desanimes por los desafíos que encuentres; en su lugar, míralos como oportunidades para el crecimiento y la mejora.
- Under a money insurance policy, which of the following would NOT be treated as money? A. Currency notes and coins B. An uncrossed cheque C. Current postage stamps D. A carton of trade goods Answer: D
- A cashier is robbed while carrying the day's takings from the shop to the bank. Which section of the money policy responds? A. Money on the premises during business hours B. Money in transit C. Money in a locked safe out of business hours D. Personal accident Answer: B
- A money policy has a single carrying limit of 1,500,000 naira. An employee carrying 1,900,000 naira on one trip is robbed of the whole amount. How much will the insurer pay? A. 1,900,000 naira B. 1,500,000 naira C. 400,000 naira D. 950,000 naira Answer: B
- Loss of money caused by the dishonesty of a firm's own trusted employee is covered by: A. Money insurance B. Burglary insurance C. Fidelity guarantee D. Public liability insurance Answer: C
- Cash left overnight in business premises is usually covered by the money policy only while it is: A. On the open counter B. In a locked safe or strongroom C. In the manager's pocket D. Anywhere in the building Answer: B
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Crea una cuenta gratuita para acceder a todos los recursos de aprendizaje, preguntas de práctica y seguir tu progreso.
Regístrate para continuar
Crea una cuenta gratuita para acceder a todos los recursos de aprendizaje, preguntas de práctica y seguir tu progreso.
