IC57 FIRE AND CONSEQUENTIAL LOSS INSURANCE - 15

Que. 1 : Q1) Which of the following is true as per fire policy

   1.  a) Architects Fee upto 3% is inbuilt in the fire policy

   2.  b) Clearance & removal of debris in excess of 1% is covered at additional premium

    3.  c) Both are true

   4.  d) Both are false

Que. 2 : Q2) Issue of Fire declaration policy is not possible for

   1.  a) Raw material

   2.  b) Finished goods

   3.  c) Process stock

   4.  d) None of the above

Que. 3 : Q3) Forest fire is covered

   1.  a) As an Insured peril under fire policy

   2.  b) as an add-on cover under fire policy

   3.  c) cannot be covered

   4.  d) it can be covered after getting approval from the TAC

Que. 4 : Q4) Which of the following policies shall be issued for stocks which are subject to frequent fluctuations in value, or in quantity?

   1.  a) Family floater policy

   2.  b) Declaration policy

   3.  c) Local Authority policy

   4.  d) Agreed bank policy

Que. 5 : Q5) Which of the following is not a standing charge under Consequential loss (fire) policy?

   1.  a) Salaries

   2.  b) Office expenses

   3.  c) Cost of stationery

   4.  d) Cost of raw materials