IC56 FIRE INSURANCE CLAIMS - 01

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Que. 1 : Q1) Which of the following are methods of sale of salvage?

   1.  a) Through the insured

   2.  b) Private sale

   3.  c) By Tender

   4.  d) All of the above

Que. 2 : Q2) Which policies are those which cover only the same classes of property in the same situations and which do not include property which others do not cover?

   1.  a) Concurrent policies

   2.  b) Escalation policy

   3.  c) Partial policy

   4.  d) Non-current policies

Que. 3 : Q3) Who needs to submit an interim report, if the entire investigation will take time. Basis interim report,on-account payment can be recommended, if requested by the insured?

   1.  a) Agent

   2.  b) Surveyor

   3.  c) Principal

   4.  d) Commissioner

Que. 4 : Q4) Declaration for January = Rs.3,00,000 Declaration for February = Rs.3,50,000 The actual declaration for February should have been = Rs.4,00,000 Fire on 12th March causing loss of = Rs.1,00,0000. Calculate the loss payable?

   1.  a) Rs.45,600

   2.  b) Rs.56,550

   3.  c) Rs.65,250

Que. 5 : Q5) Which condition says the policy shall be voidable in the event of misrepresentation, misdescription or non-disclosure in any material particular?

   4.  d) Rs.87,500

   1.  a) Condition 1

   2.  b) Condition 2

   3.  c) Condition 3

   4.  d) Condition 4

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