IC11 PRACTICE OF GENERAL INSURANCE EXAM - 11

Que. 1 : Q1) Under which of the following circumstances reinstatement basis of settlement will not apply under Fire reinstatement value policy.

   1.  a) insured fails to intimate to the insurer within 6 months or any extended time to replace the damaged property

   2.  b) insured is unable to replace the damaged property

   3.  c) insured is unwilling to replace the damaged property

   4.  d) All the above three

Que. 2 : Q2) Which of the following losses are not deemed to be accidental losses?

   1.  a) Ordinary leakage

   2.  b) Ordinary wear and tear

   3.  c) Inherebt vice

   4.  d) All of the above

Que. 3 : Q3) The constitution of _________ was done as per the provisions of Motor Vehicle Act.

   1.  a) MACT - Motor Accidents Claim Tribunal

   2.  b) FACT - Fatal Accidents Claim Tribunal

   3.  c) Motor Damages Act

   4.  d) Motor Vehicles Accident Act

Que. 4 : Q4) Turnover is Rs.10 lacs. Cost of production Rs. 7 lacs. Fixed overheads Rs.2 lacs. Calculate the net profit for consequential loss (fire) policy.

   1.  a) 1 lacs

   2.  b) 3 lacs

   3.  c) 5 lacs

   4.  d) 8 lacs

Que. 5 : Q5) The full form of ALOP is _________.

   1.  a) Advance Loss of Price Policy

   2.  b) Advance Loss of Profit Policy

   3.  c) Advance Loss of Property Policy

   4.  d) Advance Loss of Pension Policy