IC11 - LICENTIATE - Practice Of General Insurance 47

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Q 1. What is covered under the construction phase of the offshore operations of Oil and Gas?

a) Vessels

b) Driving Steel Piles

c) Drilling Units and Equipment

d) Off-Shore Platform
 
Q 2. Employee theft cover is also known as

a) Robbery Insurance

b) Embezzlement Insurance

c) Fidelity Guarantee Insurance

d) Hold Up Insurance
 
Q 3. A business interruption insurance policy can be taken only in conjugation with ____________.

a) St. Andard fire and special perils policy

b) St and Ard fire and marine policy

c) Standard and special perils policy

d) Standard Engineering and marine policy
 
Q 4. In which insurance are the rights of subrogation commonly enforced?

a) Erection of all risk insurance

b) Burglary insurance

c) Marine cargo insurance

d) Motor TP insurance
 
Q 5. Which of the following diseases is excluded under domiciliary Hospitalization benefit?

a) Tonsillitis

b) Sinusitis

c) Cataract

d) Hernia
 
Q 6. Identify the scenario where a debate on the need for insurance is not required.

a) Property insurance

b) Business liability insurance

c) Motor insurance for third-party liability

d) Fire insurance
 
Q 7. The commission which is paid back to the insured as an incentive to buy insurance is known as_____________.

a) Kickback

b) Corruption

c) Premium

d) Rebate
 
Q 8. Lloyds Coffee House is regarded as the place where insurance started the way it is practised today. Lloyds is located in __________.

a) Bangalore

b) Singapore

c) London

d) Dubai
 
Q 9. If an agent is found guilty of criminal misappropriation, the designated person will _______________.

a) Cancel the licence

b) Issue a duplicate licence

c) Renew the existing licence

d) Take some fees from the agent
 
Q 10. _________ is not considered as a Consignment Note?

a) Airway bill

b) Goods receipt

c) Bill of exchange

d) Bill of lading
 
Q 11. What is meant by customer lifetime value?

a) Sum of costs incurred while servicing the customer over his lifetime

b) Rank given to customer based on business generated

c) Sum of economic benefits that can be achieved by building a long-term relationship with the customer

d) Maximum insurance that can be attributed to the customer
 
Q 12. Which policy covers stocks at various specials?c locations under one sum assured?

a) Floater policy

b) Declaration policy

c) Stock policy

d) Marine cargo policy
 
Q 13. Q13) What kind of Investment according to the IRDA Regulations for General Business should not be less than 5%?

a) Housing and Fire Fighting Equipment

b) State Government Securities

c) Central Government Securities

d) Approved Investments as Specified in Schedule 2
 
Q 14. What class of insurance would respond to claims made against an accountant in respect of incorrect advice given for a fee?

a) Financial loss insurance

b) Legal expenses insurance

c) Professional indemnity insurance

d) Public liability insurance
 
Q 15. The fire proposal seeks to know

a) Process of manufacture

b) Details of material stored

c) Construction of building

d) All the above


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