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
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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