Are you looking for the correct answer to the question “Which of the following is a cancellation procedure in which the premium returned to the insured is NOT in direct proportion to the number of days remaining in the policy period?”? If that’s the case, you don’t have to worry anymore. Azanswer team is here with the right answer to your question. Please check below to know the answer.
Which of the following is a cancellation procedure in which the premium returned to the insured is NOT in direct proportion to the number of days remaining in the policy period?
1. Flat rate
2. Proportional
3. Short rate
4. Pro rata
1. Flat rate
Answer: 3. Short rate
The above question Which of the following is a cancellation procedure in which the premium returned to the insured is NOT in direct proportion to the number of days remaining in the policy period?, Was part of Insurance MCQs & Answers. I hope you got the correct answer to your question. Have a great time ahead.
