IC60 MARINE CARGO INSURANCE UNDERWRITING - 08

 32
Q1.To whom marine policy cannot be issued
   a) Purchaser of goods
   b) Seller of the goods
   c) Transporter of goods
  d) Bankers having a financial interest
 
Q2.Shut out Cargo means a cargo that is
   a) Not loaded onto the ship due to late arrival
   b) Thrown out of the ship
   c) Shut in the bonded warehouse
   d) Rejected by the buyer
 
Q3.Which of the following are general exclusions under ICC-A, B, and C Clauses?
  a) Loss, damage, or expense attributable to willful misconduct of the Assured
  b) Ordinary leakage, ordinary loss in weight or volume, or ordinary wear and tear of the subject-matter insured
   c) Loss, damage or expense proximately caused by delay even though the delay is caused by a risk insured against
   d) All of the above
 
Q4.___ is a cause that triggers a chain of events that resulted in a loss or damage to the subject matter or any other monetary loss to assured like loss or freight; salvage or general average contribution, liabilities to third parties or sure and labor charges.
   a) Goods cause
   b) Proximate cause
   c) Unvalued cause
   d) None of these
 
Q5.PPI in marine cargo policy means
   a) Pre and; Post Inspections
   b) Policy Proof of Interest
   c) Post parcel Identification
   d) None of the above
 
Q6.For Inland Transit, the Duration Clause limits the coverage to
  a) 7 days of the arrival of consignment at destination town
  b) 7 days of the arrival of the consignment to the warehouse of consignee
  c) 60 days of the arrival of consignment at destination town
  d) 60 days of the arrival of the consignment to the warehouse of the consignee
 
Q7.The following charges are recoverable only in case of success of the efforts;
   a) Sue and; Labour charges
   b) Salvage charges
   c) Particular charges
   d) None of the above
 
Q8.Till the vessel is built and delivered, the interest in the subject matter is that of the_____.
   a) Ship Owner
   b) Ship Builder
  c) Yard where the ship is being built and the shipowner jointly
  d) Shipowner and shipbuilder jointly
 
Q9.Which is issued in the name of a customer, where the items being shipped are already paid for?
   a) To order Bill of Lading
   b) Ocean Bill of Lading
   c) Multimodal Bills of Lading
   d) Straight Bill of Lading
 
Q10.Fruit juices, alcohol, edible oils, and certain additives are carried in which containers?
   a) Tank Containers
   b) Flat Rack Containers
   c) Ventilated Containers
   d) Refrigerated Containers

Click Here for Answer Key