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28) Explain and provide ONE (1) example of each of the meanings of exposure as it relates to insurance. (5 marks) Answers. 29) Explain why Statutory Conditions are part of the insurance contract. Describe the effect of a breach of any of these conditions by either party to the contract. (5 marks) 30) Under what circumstances would an insurance policy be canceled short-rate and how would the return premium (refund) be calculated? (5 marks) 31) Distinguish between the roles of staff and independent adjusters. (10 marks) SECTION C > Application - Case Study Question (10 marks) LEARNER / Page 5 action to Insurance & Risk Management (2018 Text) and we've totall