IC11 PRACTICE OF GENERAL INSURANCE EXAM - 10

Que. 1 : Q1) In which of the following clauses of the Scheduled form of policy reference is made to the sum insured or limit of liability.

   1.  a) Recital clause

   2.  b) Operative clause

   3.  c) Signature clause

   4.  d) Warranties clause

Que. 2 : Q2) A stevedoring company owns an ocean steamer valued at Rs. 32 crores. The steamer has been insured with three different insurance companies A, B and C.The amount underwritten by A is Rs. 6 crores, by B is Rs 10 crores and by C is Rs. 16 crores.The steamer meets with an accident and the loss is valued at Rs. 4 crores. The liability of Company A

   1.  a) Rs 75 Lakhs

   2.  b) Rs 1.2 Crore

   3.  c) Rs 2 Crore

   4.  d) Rs 5 Crore

Que. 3 : Q3) When will the underwriter use the buring cost method ?

   1.  a) The risk is huge and requires a cover for a diversified conglomerate

   2.  b) When the claims experience is not consistent

   3.  c) When technical guide rates are not available

   4.  d) All the above

Que. 4 : Q4) Following is required in insurance agency career for achieving success:

   1.  a) Will to excel

   2.  b) Empathy towards customer

   3.  c) Truthfulness

   4.  d) Will to excel, empathy towards customer and truthfulness

Que. 5 : Q5) Which of the following falls under Extraneous Risks?

   1.  a) Volcanic eruption

   2.  b) Lightning

   3.  c) Earthquake

   4.  d) Rain water damage