IC11 - LICENTIATE - Practice Of General Insurance 43

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Q 1. Who among the following does not come under the category of claims adjusting personnel?

a) assessor

b) examiner

c) claims supervisor

d) adjuster
 
Q 2. The Solatium Scheme was initiated by the Central Government in 1989 for the payment of compensation to the victims of

a) Fire Accident

b) Earth Quake

c) Hit and Run Accidents

d) Accident due to excluded peril
 
Q 3. What is issued by the insurers a month in advance before the date of expiry?

a) Warning

b) Declaration

c) Renewal notice

d) Notice
 
Q 4. Which insurance relates to the installation of plant or machinery?

a) Computer Insurance

b) Erection All Risks Policy

c) Machinery Breakdown

d) Electronic Equipment Insurance
 
Q 5. Regulatory Issues is an example of _________ risk.

a) Operational

b) Strategic

c) Compliance

d) Financial
 
Q 6. In which of the following claims the report of Average Adjusters is necessary?

a) Actual total loss of ship

b) Constructive total loss of ship

c) Particular Average

d) General average
 
Q 7. Which of the following exclusions does not apply product liability policy?

a) Pollution

b) Costs of a defective product

c) Costs of recall of any product

d) Product Guarantee
 
Q 8. Which of the following statements is True? 1. The sum insured under the consequential loss (fire) policy should be equal to the gross profits of the Indemnity Period selected. 2. The sum insured should be equal to the net profits of the Indemnity period sel

a) 1 is true

b) 2 is true

c) Both are true

d) Both are false
 
Q 9. For what is Open Cover generally issued?

a) Export Import

b) Consignments

c) Trade

d) Stocks
 
Q 10. Which of the following is NOT payable under the Burglary(Business Premises) policy?

a) Theft by employees

b) Theft by customers

c) Theft by visitors

d) All of the above
 
Q 11. What is the validity period of a cover note in Motor Insurance?

a) 20 days

b) 40 days

c) 60 days

d) 80 days
 
Q 12. Which of the following are allowed, under the regulation, to distribute micro-insurance products?

a) Individual agents

b) Corporate agents

c) Brokers

d) All of the above
 
Q 13. Q13) The most common method of? xing premium rates is by classic?cation of_______________.

a) Damages

b) Risks

c) Policy

d) Loss
 
Q 14. In which year was the Employee's State Insurance Act enacted?

a) 1944

b) 1945

c) 1946

d) 1948
 
Q 15. Under what are dumpers and tippers insured?

a) Heavy Vehicle

b) Marine Cargo

c) Motor

d) Marine hull


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