IC11 - LICENTIATE - Practice Of General Insurance 14
IC11 - LICENTIATE - Practice Of General Insurance 14
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Q 1. Warehousing facilities and Loading/unloading conditions are things to be looked at in a ______.
Lift Insurance
Public liability insurance
Store insurance
Hull insurance
Cargo insurance
Q 2. Which policy is issued to business premises covering stock in trade, goods held in trust or on Commission, and cash in a locked safe?
Bhavishya Arogya policy
Mediclaim insurance policy
Liability only policy
Burglary insurance policy
Universal health insurance policy
Q 3. Who issues the Bill of Lading?
Road transporters
Shipping companies
Couriers
Railways
Airlines
Q 4. _______ policies provide cover against loss of profits (machinery) insurance / advance loss of Profits?
Marine insurance
Fire insurance
Engineering insurance
Burglary insurance
Floating insurance
Q 5. In the case of fire and marine cargo insurance, the percentage of premium that the insurer is required to provide for as reserves is _____.
25%
30%
50%
75%
100%
Q 6. What do 'Reserves' refer to in insurance accounting?
Estimate for future liabilities
Funds for future expansions
Funds available for investments
Invested funds
Funds for future dividends
Q 7. Which policy gives indemnity to the insured in respect of his/her legal liability to pay compensation to his/ her employees who sustain personal injury by accident?
Compulsory public liability policy
Legal liability policy
Workmen’s compensation policy
Professional indemnities policy
Public liability policy
Q 8. The risk premium is calculated based on ________.
Number of people insured
Average loss ratio
Profit ratios
Number of vehicles insured
The average life of the property
Q 9. ILU stands for _______.
Institute of London Universities
Institute of London underwriters
Institute of London undertakers
Institute of London UNICEF
Institute of London unified
Q 10. What does the insurer incorporate to reduce physical hazards?
Appropriate rules
Appropriate agreements
Appropriate contracts
Appropriate clauses
Appropriate certificate
Q 11. Policy under the Group Health insurance scheme can be accepted in _________.
Debentures
Loans
Mortgages
Installments
Q 12. What is the cause of hit-and-run accidents?
Marathon Runners
Pedestrians
Watercraft
Motor vehicles
Cycles
Q 13. In which of these insurance is a cashless facility available?
Motor insurance
Aviation insurance
Hull insurance
Cargo insurance
Fire insurance
Q 14. The Balance Sheet of companies represents ________.
Company Position
Legal status of the company
Company status
Debt position of the company
Financial position of the company
Q 15. A businessman has the following policies covering stocks: Policy A for 800000; Policy B for 1000000; Policy C for 200000. The stocks to the tune of 200000 are damaged due to rioters. What is the claim payable under policy A?
Rs 200000
Rs 100000
Rs 80000
Rs 65000