IC56 FIRE INSURANCE CLAIMS - 07

Que. 1 : Q1) According to Condition 8 all benefits under the policy shall be forfeited in which of the following circumstances?

   1.  a) The claim is fraudulent

   2.  b) The claim is supported by a false declaration

   3.  c) Fraudulent means are used by the insured or any one acting on his behalf

   4.  d) All of the above

Que. 2 : Q2) Which of the following are salient features of the condition 9?

   1.  a) Reinstatement is at the option of the insurer and the insured has no right to claim reinstatement

   2.  b) Reinstatement shall not be exact or complete but shall be in reasonably sufficient manner

   3.  c) It is the duty of the insured to furnish, at his expense,the insurer with all plans and such other particulars as may be required

   4.  d) All of the above

Que. 3 : Q3) Which of the following are role of insurer?

   1.  a) Insurer should take timely action in respect of claims

   2.  b) Insurer should take timely action in respect of Surveyor's appointment and submission of report

   3.  c) Repudiation letter from the insurer should be clear, reasoned and transparent

   4.  d) All of the above

Que. 4 : Q4) If Total Sum insured is more than the value at the time of loss. Then calculate Total Loss. [Mark: 1]

   1.  a) X Pays =RS.3,70,000 , Y Pays = Rs.80,000

   2.  b) X Pays =RS.2,70,000 , Y Pays = Rs.1,80,000

   3.  c) X Pays =RS.3,00,000 , Y Pays = Rs.2,50,000

   4.  d) X Pays =RS.2,50,000 , Y Pays = Rs.2,00,000

Que. 5 : Q5) Express condition 9 in a fire insurance policy provides?

   1.  a) Forfeiture of policy benefits

   2.  b) Pro-rata Average

   3.  c) Re-instatement of replacement of property

   4.  d) Contribution