IC57 FIRE AND CONSEQUENTIAL LOSS INSURANCE - 03

Que. 1 : Q1) If computers are covered under a fire policy and in case of breakdown of the computers due to short circuiting:-

   1.  a) The claim is payable in full

   2.  b) The claim is payable as non standard

   3.  c) The claim is not payable

   4.  d) The claim is payable on the value of the computers @ 40% depreciation p.a.

Que. 2 : Q2) The turnover of a business consists of

   1.  a) Variable charges and standing charges

   2.  b) Standing charges and net profit

   3.  c) Variable charges and net profit

   4.  d) Variable charges, standing charges and net profit

Que. 3 : Q3) Indemnification for stocks in Fire policy is an

   1.  a) Invoice value

   2.  b) Market value or cost whichever is less

   3.  c) Reinstatement value

   4.  d) Book value

Que. 4 : Q4) Fire Insurance Policy does not cover damage to property even as add-on cover due to___________.

   1.  a) Floods

   2.  b) Earthquake

   3.  c) Fire

   4.  d) Bombing due to war

Que. 5 : Q5) For a single owner which is not true in respect of partial insurance under Fire policy?

   1.  a) Sum Insured of Plinth & foundation of a building can be excluded for Earthquake peril.

   2.  b) Sum Insured of Plinth & foundation of a building can be excluded for Fire perils

   3.  c) Sum Insured of Boilers can be excluded from the total Sum Insured.

   4.  d) Both a & c