The Duty to Disclose Facts Under the Insurance Contracts Act

question 11

Multiple Choice

The duty to disclose facts under the Insurance Contracts Act 1984 extends to facts that are:

• A)Material.
• B)Known.
• C)Novel.
• D)New.

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Definitions:

Big Data

Large volumes of data - both structured and unstructured - that inundate a business on a day-to-day basis.

Data-Processing Techniques

Methods and procedures used for transforming raw data into meaningful information through various manipulations such as coding, sorting, and summarizing.

Sampling Without Replacement

Once an element has been included in the sample, it is removed from the population and cannot be selected a second time.

Big Data

Extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.