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Which statement best explains Deductible?

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Question ID #27479 UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC 2026 Full-Length Mock Test 9 Medium

Which statement best explains Deductible?

Correct Answer: C. Amount of a covered loss borne by the insured before insurer payment
Deductible: Amount of a covered loss borne by the insured before insurer payment

Question: Which statement best explains Deductible?

A. Financial or legal relationship giving a person a legitimate interest in preservation of insured subject matter

B. Dominant effective cause used to determine whether a loss falls within policy coverage

C. Amount of a covered loss borne by the insured before insurer payment

D. Duty of parties to disclose material facts relevant to insurance contract

Correct Answer: C. Amount of a covered loss borne by the insured before insurer paymentDeductible: Amount of a covered loss borne by the insured before insurer payment

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Which statement best explains Deductible? - MCQ Explanation

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Correct answer: C. Amount of a covered loss borne by the insured before insurer payment