IC11 - LICENTIATE - Practice Of General Insurance 40
IC11 - LICENTIATE - Practice Of General Insurance 40
Q 1. The maximum limit of cover under Architect fees add-on cover is ____ % of the adjusted loss.
a) 2.50%
b) 5%
c) 7.50%
d) 10%
Q 2. Which of the following covers in shopkeepers' package insurance is not included in Householders' package insurance?
a) Fixed plate glass
b) Neon sign
c) Pedal cycles
d) Legal liability to employees
Q 3. Which of the following diseases is excluded under domiciliary Hospitalization benefit?
a) Cough
b) Dysentery
c) Flu
d) All of the above
Q 4. Which of the following extensions is not granted under the workmen's compensation policy?
a) Specified diseases in the W.C Act
b) Medical expenses
c) Technical collaboration
d) Contractors' workmen
Q 5. The insurance principle which imposes a duty on the parties to a contract not to misrepresent any matter relating to the insurance, is known as
a) assignment
b) consideration
c) insurable interest
d) utmost good faith
Q 6. In the insurance context risk retention indicates a situation where__________.
a) The possibility of loss or damage is not there
b) loss-producing event has no value
c) property is covered by insurance
d) one decides to bear the risk and its effects
Q 7. A person, whose home was destroyed in a fire, has replaced the tile flooring with marble and advised the supplier to mention in the bill the material as tile. This is an example of a claim
a) Overvaluation
b) Indemnity
c) Betterment
d) Under insurance
Q 8. For whom is the Railway Claim Tribunal Act relevant?
a) Train Accident insurance
b) Personal accident insurance
c) Cargo insurance
d) Medical insurance
Q 9. If the insurer is not interested in the renewal of the policy, it has to give _________.
a) Actual notice
b) Meeting notice
c) Prior notice
d) Public notice
Q 10. Which of the following is the most effective form of reinsurance for handling loss frequency variations?
a) aggregate excess treaty
b) facultative treaty
c) catastrophe treaty
d) pro rata treaty
Q 11. What does leakage relate to?
a) A drop in claims reserves
b) Claim losses that can be recovered through subrogation, excess, etc.
c) Cash losses from employee embezzlement
d) Losses due to online fraud
Q 12. An open cover is not a policy but is more like a __________.
a) Document note
b) Debit note
c) Banknote
d) Agreement
Q 13. Q13) Which of the following risks falls under group IV for rating purposes under industrial risks public liability policy?
a) Distilleries
b) Match factories
c) Breweries
d) Biscuit factories
Q 14. Motor insurance policy for private or commercial vehicles is also known as __________.
a) Vehicle Damage policy
b) Liability-only policy
c) Declaration policy
d) Floating policy
Q 15. Which of the following is not considered permanent total disablement?
a) Loss of both eyes
b) Loss of hearing in both ears
c) Paralysis
d) Loss of one limb and one eye
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