IC57 FIRE AND CONSEQUENTIAL LOSS INSURANCE - 06

Que. 1 : Q1) Rating under Petrochemical tariff is based on

   1.  a) Material factor of the raw materials and hold up capacity

   2.  b) Pressure and temperature

   3.  c) None of the above

   4.  d) Both 1 & 2 above

Que. 2 : Q2) In consequential Loss(Fire) Insurance policy, the sum insured is arrived at by

   1.  a) All standing charges plus net profit

   2.  b) Specified standing charges plus net profit

   3.  c) Only net profit

   4.  d) None of the above

Que. 3 Q3) __________ is defined as "the money paid or payable to the insured for services rendered in the course of the business at the premises".

   1.  a) Gross profit

   2.  b) Net profit

   3.  c) Gross revenue

   4.  d) Net revenue

Que. 4 : Q4) Experts have recognised three main classes of occupancies, on the basis of fire load. Which of the following will be classified under "High Fire load"?

   1.  a) Residential premises

   2.  b) Retail shops

   3.  c) Factory buildings

   4.  d) Warehouses

Que. 5 : Q5) The FLOP policy covers

   1.  a) Loss of profit due to reduction in turnover during indemnity period

   2.  b) Loss of profit during the financial year

   3.  c) Loss of turnover due to fire

   4.  d) None of the above