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Question: __________ Policy is granted only in respect of stocks of inventories of the insured under fire insurance business.

Options:

  1.  Declaration
  2.  Floating
  3.  Replacement
  4.  Valued

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1. Declaration

Declaration Policy is granted only in respect of stocks of inventories of the insured under fire insurance business.


Explanation:

Declaration Policy is granted only in respect of stocks of inventories of the insured under fire insurance business.

It is useful when there are frequent fluctuations in stocks prices and to avoid lower insured stock insurance.

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