IC60 MARINE CARGO INSURANCE UNDERWRITING - 07
| Q1.Institute War insurance attaches only as the subject-matter insured and as to any part as that part is loaded on to the aircraft for the commencement of the air transit insured and terminates, subject to 4.2 and 4.3 below, either as the subject-matter incurred on expiry of ___ counting from midnight of the day of arrival of the aircraft at the final place of discharge, whichever shall first out. |
| a) 15 days |
| b) 30 days |
| c) 45 days |
| d) 60 days |
| Q2. If the Marine Casualty Form is not issued due to non-recording of a statement from the survivor(s) : |
| a) The Mercantile Marine Department may be requested to issue a Certified |
| b) An Investigator may be appointed |
| c) A certified copy of the Meteorological Department's Report can be obtained |
| d) All of the above |
| Q3.The____was set up in 1981 to protect the integrity of international trade. |
| a) International Marine Bureau (IMB) |
| b) International Maritime Bureau (IMB) |
| c) International Maritime Board (IMB) |
| d) International Marine Board (IMB) |
| Q4.A statutory body called ____ which was formed under the provisions of the Insurance Act, 1938 came out with tariff rates for different classes of business to prevent unhealthy competition and to ensure that policyholder's interests were fully protected. |
| a) Insurance Regulatory and Development Authority of India(IRDA) |
| b) Tariff Advisory Committee(TAC) |
| c) Securities and Exchange Board of India(SEBI) |
| d) Reserve Bank of India(RBI) |
| Q5.What represents the maximum liability of the insurer for any claim arising out of one accident/incident or a series of accidents/incidents arising out of the same event towards unintentional accumulations beyond the control of the insured? |
| a) Limit per location |
| b) Limit per sending |
| c) Declarations |
| d) Inspection of records |
| Q6.Which of the following is the international convention for the prevention of pollution from ships? |
| a) International Maritime Bureau (IMB) |
| b) International Ship and Port Facility Security Code (ISPS) |
| c) MARPOL |
| d) ISM code |
| Q7.An underwriter can underwrite which of the following? |
| a) High severity low-frequency type of proposal with right terms and conditions |
| b) High frequency and low severity type of proposal with an adequate deductible |
| c) But the underwriter might be wary to underwrite a high severity and high-frequency type of proposal because of the non-insurable nature of the risk |
| d) All of the above |
| Q8.If General Average is declared for the amount of ransom, same will be payable under___only and NOT under____. |
| a) ICC-A, ICC-B and C |
| b) ICC-A and C, ICC-C |
| c) ICC-B and C, ICC-A |
| d) ICC-A and C, ICC-B |
| Q9.Which cargo refers to cargo in huge quantities carried in 'Unpackaged form' in the holds/ tanks of the vessels? |
| a) Bulk Cargo |
| b) Light Cargo |
| c) Break-Bulk Cargo |
| d) Light-Bulk Cargo |
| Q10.____ is issued by the shipping line. |
| a) Master Bill of Lading |
| b) House Bill of Lading |
| c) Clean Bill of Lading |
| d) Claused Bill of Lading |