IC11 - LICENTIATE - Practice Of General Insurance 15

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Q 1. Under which clause is the cover for costs related to i) Cost of controlling the blow ii) Cost of Cleaning Up iii) Pollution Liability etc. provided?

Blow out clause

All risk clause

Energy explosion and development clause

Launch clause

Pre-operation clause

Q 2. How is the premium to be paid calculated under the Declaration policy?

Based on the sum insured

Based on the damage caused

Based on the risk involved

Based on property

Based on the cost of replacement

Q 3. Services of _________ are used to assess property losses.

Investigator

Underwriter

TPA

Claim technician

Surveyor and loss assessor

Q 4. The full form of MACT is _______.

Major Accident Claim Tribunal

Motor and amp; Aviation Claim Tribunal

Maximum Action Core Team

Motor Accident Claim Tribunal

Motor accident Cause tribunal

Q 5. What is the maximum weekly amount that can be claimed under the temporary total disablement benefit of a PA policy?

Rs 3000

Rs 4000

Rs 5000

Rs 8000

Rs 10000

Q 6. The fourth phase of customer service comprises __________.

Actual preparation of the policy and other documents

Customer satisfaction

Dealing with customers' demand

Dealing with the problems of customers

Pre-sales service

Q 7. The Janta Personal Accident (JPA) policy contracts are for _______.

Annual basis

Long term basis

Annual or long-term basis

Agreement basis

Schedule basis

Q 8. The companies should review the rates frequently in light of changing claims experience in _______.

Classes of risks

Continuous classes of risk

Sudden classes of risks

General classes of risks

Various classes of risks

Q 9. On what is the cover of stop loss treaty based?

Claims ratio

Sum insured

Premium

Loss amount

Size of loss

Q 10. What is the maximum amount of sum insured under the Janta Personal Accident policy?

Rs. 25000

Rs. 50000

Rs. 75000

Rs. 100000

Rs. 150000

Q 11. The Insurance Policy is a formal document that provides ______ of the contract of insurance.

Intimation

Facts

Information

Details

Evidence

Q 12. What are the broad functions of the Tariff Advisory Committee?

Regulate share values

Regulate market rates

Regulate policy rates

Regulate claim value

Regulate the premium rates

Q 13. Settlement of claims is one of the important functions in an ________.

Service organization

Insurance organization

NGO

Industrial organization

Government organization

Q 14. Insurers are in the business of taking risks at a cost. Cost is the premium to be paid by the insured and the risk is paying the claims for the subject matter when the same is damaged/ destroyed by the insured peril. None of the other stated options f

Storm

Riot and amp; strike

Malicious damage

Aircraft damage

Explosion

Q 15. What is the primary source of income for an insurer?

Bonus

Remuneration

Commission

Premium

Discount in premium


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