IC11 PRACTICE OF GENERAL INSURANCE EXAM - 02

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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

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