IC11 PRACTICE OF GENERAL INSURANCE EXAM - 10
| Q1.Just because an insurer places facultative reinsurance on a policy will not make it ___. |
| Risk-free |
| Riskier |
| Sudden risk |
| Constant risk |
| Regular risk |
| Q2.An exporter regularly insures the export consignments. In case the deposit with the insurance company falls short for one of the consignments, the risk is ____. |
| equal to the policy amount |
| equal to the amount paid/deposited |
| equal to the commission |
| terminated |
| None of the above |
| Q3.In which category of insurance the insured is not paid the loss? |
| Motor Vehicle insurance |
| Fire insurance |
| PA policy |
| Liability insurance |
| Marine hull policy |
| Q4.Which natural peril is covered under a standard fire policy? |
| Ship damage |
| Aircraft damage |
| Riot and Strike |
| Explosion |
| Storm |
| Q5.Select the appropriate insurance product for the following : (i) Electro Medical Equipment (ii) Navigational equipment (iii) Signal and transmitting equipment (iv) Telecommunication. |
| Advance Loss of Profits policy |
| Machinery Breakdown Policy |
| Standard fire and Machinery breakdown Policy |
| Contractors Plant and machinery policy |
| Electronic Equipment Insurance Policy |
| Q6.Whose task is to meet people, explain and persuade them to buy the correct insurance? |
| Brokers |
| Banks |
| Individuals |
| Agents |
| Insurers |
| Q7.A person, whose home was destroyed in a fire, has replaced the tile flooring with marble and advised the supplier to mention in the bill the material as tile. This is an example of claim __ |
| Overvaluation |
| Indemnity |
| Betterment |
| Underinsurance |
| Reinstatement |
| Q8.Where are the rights of subrogation commonly enforced? |
| Motor Third Party (TP) insurance |
| Burglary insurance |
| Marine insurance |
| Fire insurance |
| Erection all-risk insurance |
| Q9.The public disclosure of the unaudited balance sheet has to be made __ by the insurance firm. |
| Half monthly |
| Monthly |
| Quarterly |
| Half-yearly |
| Annually |
| Q10.What pattern does the procedure in respect of claims under various classes of insurance follow? |
| Common Pattern |
| Special Pattern |
| Modular Pattern |
| Fixed Pattern |
| Analytical Pattern |