IC57 FIRE AND CONSEQUENTIAL LOSS INSURANCE - 09

Que. 1 : Q1) What is meant by drafting of policies?

   1.  a) It means completion of the schedule which forms part of the fire policy

   2.  b) It means providing an evidence of insurance, before the policy document is issued

   3.  c) It means filling up all the relevant information in proposal form by agent

   4.  d) It means signing a declaration from the proposer, that all the information provided by him is correct.

Que. 2 : Q2) _________ provides that the policy and the schedule shall be read together as one contract.

   1.  a) Condition 4

   2.  b) Condition 5

   3.  c) Condition 6

   4.  d) Condition 7

Que. 3 : Q3) Burning cost is calculated to

   1.  a) Assess the amount of loss

   2.  b) determine premium rating

   3.  c) determine any insurance

   4.  d) calculate Cost of burning the property

Que. 4 : Q4) Which of the following is correct?

   1.  a) Fire is an add-on cover

   2.  b) EQ is an add-on cover

   3.  c) STFI is an add-on cover

   4.  d) None of the above

Que. 5 : Q5) What is the objective of risk inspection report?

   1.  a) To act as an evidence of insurance protection

   2.  b) To authenticate all the additions or alterations made after the submission of the proposal form

   3.  c) To provide the underwriter with a complete picture of the risk so that he is enabled to determine the rates of premium and the terms of insurance

   4.  d) To provide for all individual details of the insurance contract.