1. What is the validity of the following statements? (i) Surrender value is applicable to general insurance policies.(ii) Annuity is the profit share distributed to the policyholders a. Statement (i) is false (ii) is true b. Statement (i) is true (ii) is false c. Both (i) and (ii) is true d. Both (i) and (ii) is false

2. Contribution principle is only applicable if: a. 2 or more policies are purchased b. All policies cover same peril c. All policies cover same subject matter d. All the given options

3. Mr. Khalid wants to purchase a fire insurance policy for his cousins house. Insurance company rejected his proposal. Which principle explains insurance company decision? a. Principles of Insurable interest. b. Principles of Indemnity c. Principles of Utmost good faith d. None of the given options