IC60 MARINE CARGO INSURANCE UNDERWRITING - 06

Que. 1 : Q1) Where did Lloyds originate ?

   1.  a) London

   2.  b) Germany

   3.  c) China

   4.  d) Rhode lsland

Que. 2 : Q2) R.N.Malhotra committee submitted its report in __________ recommended that the private sector be allowed to enter the insurance sector.

   1.  a) 1925

   2.  b) 1963

   3.  c) 1994

   4.  d) 1999

Que. 3 : Q3) Which of the following is false in relation to marine cargo insurance

   1.  a) Claim survey fees are payable by insurers only if the claim is payable

   2.  b) Under every marine policy for export shipments, a certificate of insurance is issued

   3.  c) General average losses are covered only under Institute cargo clause (A) All risks

   4.  d) None of the above

Que. 4 : Q4) What could be the likely purpose behind purchasing stop-loss reinsurance ?

   1.  a) Reduce variance of the underwriting result

   2.  b) Improve underwriting process

   3.  c) Bring down insurance costs

   4.  d) Eliminate losses

Que. 5 : Q5) Which section of Marine Insurance Act, 1906 deals with the material disclosure made by agent by assured to conclude a marine insurance contract for assured?

   1.  a) Section 16

   2.  b) Section 17

   3.  c) Section 18

   4.  d) Section 19