Question
Verbal Reasoning Question on Statements and Inferences
Given below are two statements :
Statement I: The 'doctrine of contribution' is not applicable to Marine Insurance.
Statement II: The fire Insurance policy carries surrender value or paid up value.
In the light of the above statements, choose the most appropriate answer from the options given below :
A
Both Statement I and Statement II are correct
B
Both Statement I and Statement II incorrect
C
Statement I is correct but Statement II is incorrect
D
Statement I is incorrect but Statement II is correct
Answer
Both Statement I and Statement II incorrect
Explanation
Solution
The correct answer is (B) : Both Statement I and Statement II incorrect.