IC60 MARINE CARGO INSURANCE UNDERWRITING - 05
| Q (1): All Air waybills are of 11 digits of which the first 3 digits represent the _____, the next 7 digits are the _____ while the last is a ____. |
| a) actual running number for the consignment, check-digit, Airline code |
| b) Airline code, the actual running number for the consignment, check-digit |
| c) check-digit, Airline code, the actual running number for the consignment |
| d) None of the above |
| Q2.Which is also a single policy covering all the different transits of insured and Estimated values for each of the transits are obtained and a rate of premium worked out by the insurer for each transit? |
| a) Open policy |
| b) Closed policy |
| c) Multi-Transit policy |
| d) Sales Turnover Policy |
| Q3.The duration clauses is suitably modified to handle the delivery of marine cargo by post. For long is the cover valid after the notice of the arrival of the subject-matter insured was given to the addressee? |
| a) For a duration of 7 days |
| b) For a duration of 15 days |
| c) For a duration of 30 days |
| d) For a duration of 10 days |
| Q4.What means that the seller delivers when the goods are placed at the disposal of the buyer not cleared for import on the quay at the named port of destination? |
| a) Delivered At Frontier |
| b) Delivered Ex Ship |
| c) Delivered Duty Unpaid |
| d) Delivered Ex Quay |
| Q5.What is not a shipping document |
| a) Bill of Lading |
| b) Bill of Entry |
| c) Mate Receipt |
| d) Invoice |
| Q6.PPI in marine signifies: |
| a) Policy proof of interest |
| b) Port package inundation |
| c) Package port indemnity |
| d) None of the above |
| Q7.Which among the following INCOTERM was dropped in 2010? |
| a) Delivered Duty Paid (DDP) |
| b) Delivered at Terminal (DAT) |
| c) Delivered at Frontier (DAF) |
| d) Delivered at the place (DAP) |
| Q8.Which of the following documents provide evidence of loss of cargo during loading operations? |
| a) Bill of entry |
| b) L.O.B. Certificate |
| c) Copy of protest by the master of the vessel |
| d) Ship Survey Report |
| Q9.The commercial invoice is the key accounting document that describes the commercial transaction between the seller and the buyer. Say whether True or False. |
| a) True |
| b) False |
| Q10.Which of the following has associated risks of Fire, explosion, and spontaneous combustion? |
| a) Aluminium |
| b) Copper and Copper products |
| c) Asbestos |
| d) Coal, Coke, and Charcoal |