IC S01 - Exam Principles And Practice Of Insurance And Survey And Loss Assessment-13

IC S01 - Exam Principles And Practice Of Insurance And Survey And Loss Assessment-13

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Q 1. What is the 'Roadside Assistance Service' provided under a motor insurance policy?

Roadside assistance service is a service that provides necessary tracking and GPS services to the insured

Roadside assistance service is a service that provides necessary help in case when the insured is met with an accident

Roadside assistance service is a service that provides snacks and beverages to insured at different points of their journey

Roadside assistance service is a service that provides necessary resting points for the insured drivers and passengers

Roadside assistance service is a service that provides help in case an insured is stranded on the road when his car breaks down

Q 2. Which risks are not covered in Institute Cargo Clauses(C)?

Fire or Explosion

Overturning

derailment

Earthquake

None of the Above

Q 3. Which of the following is not a Construction phase Engineering Policy?

Contractors All Risk

Erection All Risk

Machinery Breakdown Policy

Marine Cum Erection Policy

None of the Above

Q 4. Which of the following is not an exclusion in All Risk Insurance?

Loss or damage to money

Loss or damage to securities

Loss arising from decay in customs

All of the Above

None of the Above

Q 5. Which of the following is not an exclusion in Plate Glass Insurance?

Fire or explosion

Earthquake

Plain glass of ordinary glazing quality

All of the Above

None of the Above

Q 6. Premium consists of the cost of taking the risk & amp; management expenses. The management expenses include all costs including __________________.

Premium

Cash

Commission

Claim

Bonus

Q 7. For a burglary claim of a business premises following losses were assessed. Stock - Rs. 70,000, Repair to door and window frame - Rs.5,000, Breakage of window glass - Rs. 5,000. What will be the payable amount to the Insured?

Rs.70,000

Rs.80,000

Rs.75,000

Rs. 5000

Rs. 10,000

Q 8. Which of the following sections is compulsory under Householders Insurance Policy & amp; Shopkeepers Insurance Policy?

Section 2

Section 3

Section 4

Section 1

None of the above

Q 9. By tossing a coin was for 20 times, it comes up with heads" for 10 times. What is the probability of coming up heads?"

20

0.2

0.5

0.4

40

Q 10. To save foreign currency, particularly in marine insurance, as per the directions of the Reserve Bank of India, which years Indian ships were insured in India?

1951

1952

1953

1954

1955

Q 11. Change of address or issuance of duplicate policy the insurer shall respond within ______________ of the receipt of such communication.

20 Days

10 Days

25 days

30 days

15 Days

Q 12. A trial balance can be defined as _____________.

A statement of Profit and Loss Account

A statement of debit and credit balances extracted from various ledger accounts

A statement of account usage

Trading Account used for various schemes

None of these

Q 13. _________________ refers to the pecuniary interest a person has in the asset he is going to insure.

Agreement

Underwriting

Insurable interest

Management

Analysis

Q 14. Banker’s indemnity insurance policy covers

All of the above

Only 1

Only 2

Only 3

Only 4

Q 15. Which of the following falls under strategic risk?

Changes in ecosystem

Changes in the physical environment

Changes in chemical constituents

Changes in surrounding

Both a & b


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