IC11 - LICENTIATE - Practice Of General Insurance 13

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Q 1. A person has the following material in his factory: Raw materials - Rs 10,000,00; Finished Goods - Rs. 16,000,00; Semi-Finished Goods - Rs 4,00,000. There is a bank mortgage of Rs 10,000,00 on these stocks. What is the value of goods he has to ins?

Rs 16,000,00

Rs 30,000,00

Rs 20,000,00

Rs 10,000,00

Rs 40,000,00
 
Q 2. Individual fidelity guarantee policies are usually issued for temporary contracted ______ employees

Private

NGOs

Public Sector Bank

Government

Non-Government
 
Q 3. The Premium Register copy is a must for _____.

Underwriting bank statements

Underwriting loans

Underwriting returns

Underwriting balance sheet

Underwriting services
 
Q 4. To what extent is the reimbursement expense for a damaged private car's protection limited?

Rs 1000

Rs 1500

Rs 2000

Rs 2200

Rs 2500
 
Q 5. What will be an appropriate sum insured for death cover under the PA policy?

3 years income

5-year income

7.5 years income

Annual income

No limit
 
Q 6. __________ tends to be a package of covers picking up more traditional covers of Employee thefts, Premises coverage, Depositors forgery, Computer fraud, etc.

Bankers blanket insurance

Crime insurance

Cyber insurance

Office package insurance

SME package insurance
 
Q 7. Which of the following cannot be insured under Cyber Liabilities?

Losses because Third Parties could not access the system

Losses arising from hacking into the insured's server

Liability for the insured spreading the virus to the third party

Deliberate malicious lies from the insured to Third Parties

All of the above
 
Q 8. The renewal receipt can also be issued by ______.

Specifying the discount on premium

Acknowledging receipt of renewal premium

Specifying the term of the further period of insurance

Analysis of the clause of insurance

Specifying the terms of the agreement
 
Q 9.
The Janta Personal Accident (JPA) policy is specifically designed for________.

Higher sections of the society

Weaker sections of society

All sections of the society

Common sections of the society

Public sections of the society

 
Q 10. If the insurer is not interested in the policy renewal, it has to give _______.

Actual notice

Meeting notice

Prior notice

Public notice

Expired notice
 
Q 11. When the Money transit insurance is renewed, the premium is calculated based on ______.

Only money

Money in transit

Actual money in transit

Insurance policy

Contract basis
 
Q 12. The cargo clause comes under the category of _______.

Sec A B C

Sec 1

Sec 3

Sec B D S

Sec B C D
 
Q 13. The insurance companies should make concentrated efforts to review and reduce the _______.

Normal expenses ratio

Fluctuating expenses ratio

Management expenses ratio

General expenses ratio

Expenses ratio
 
Q 14. The full form of ALOP is ______.

Advance loss of property

Advance loss of penalty

Advance loss of policy

Advance loss of profits

Advance loss of pension
 
Q 15. A Certificate of Insurance is issued in addition to the policy in motor insurance. This is required by ______.

General Insurance act

Consumer act

Property Insurance act

LIC act

Motor Vehicles act

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