IC11 PRACTICE OF GENERAL INSURANCE EXAM - 06

Que. 1 : Q1) Which of the following risk is automatically covered under institute cargo clauses (A) without extra premium?

   1.  a) Inherent vice

   2.  b) Country damage

   3.  c) War and kindred risk

   4.  d) Strikes, riots and civil commotion

Que. 2 : Q2) The amount of relief payable under public liability Insurance Act, 1991 for Accident is

   1.  a) Rs. 10,000

   2.  b) Rs. 12,500

   3.  c) Rs. 25,000/-

   4.  d) Rs.50,000

Que. 3 : Q3) A verylongstanding personal customer with no previous claims is Underinsured due to Inflationary factors which he is unaware of. Unfortunately his property was damaged in a Fire accident. In this case the Insurer may admit full claim eventhough he is underinsured since

   1.  a) the claim applies to compulsory insurance

   2.  b) the insurer makes an ex-gratia settlement

   3.  c) an insurer exercises subrogation rights against a negligent third party

   4.  d) Settlement is made through the IRDA Claim Scheme

Que. 4 : Q4) It is possible to provide the reserve for each policy separately by calculating ____________.

   1.  a) Number of period

   2.  b) Number of days

   3.  c) Number of year

   4.  d) Number of weeks

Que. 5 : Q5) The provision of percentage in investment in a approved investments like infrastructure and social sector should not be less than __________.

   1.  a) 5

   2.  b) 10

   3.  c) 15

   4.  d) 20