IC11 PRACTICE OF GENERAL INSURANCE EXAM - 02
Q1.When looking for reinsurance, the underwriter works at two levels - one is at risk level and the other is __. |
Macro |
Micro |
Primary |
Retention |
Portfolio |
Q2.If Mr. Abhay's car collides with another car and the other car's driver gets injured, who will pay for the claims of the other driver? |
Mr. Abhay will have to pay |
The other driver if in uninsured |
Third-party insurance pool |
Mr. Abhay's insurance company |
The other drivers' insurance company |
Q3.Which policy covers damage to the actual structure of the vessel? |
Marine Hull insurance |
Marine Cargo insurance |
Marine Fire insurance |
All of the above |
None of the above |
Q4.In the case of Motor Insurance which document is considered as the only evidence of the existence of valid insurance by police authorities and RTO? |
Insurance Notice Document |
Cover Notice |
Policy Document |
Certificate of Insurance |
Any of the above |
Q 5.Pure Premium is defined as __. |
Total premium divided by the number of exposure units |
Total premium divided by the total claims |
The total amount of claims divided by premium |
The total amount of claims incurred per year divided by the number of exposure units |
None of the above |
Q6.In Motor Insurance, 'Form A' covers __. |
Act Liability only |
Act Liability and Own Damage Losses |
Own damage losses only |
Third-party losses only |
Own damage losses and Third-party losses |
Q7.What is the claim loading applied to a policy known as? |
Claim Minus |
Claim Load |
Claim Malus |
Claim Fides |
Claim Bonus |
Q8.____ cannot be an intermediary. |
Bank |
Insurer |
Agent |
Insurance Broker |
All of the above |
Q9.Which type of fire policy covers stocks at various locations under one sum assured? |
Common Policy |
Declaration Policy |
Long term policy |
Floating policy |
Consequential loss policy |
Q10.In private motor insurance, separate rates apply for vehicles below and above ___. |
800 cc |
1000 cc |
1500 cc |
1800 cc |
2000 cc |