IC66 MARINE INSURANCE CLAIMS - 02
| Q1.For the purpose of recovery from carrier or ship under COGSA 1925, carrier or ship is not liable for which of the following? |
| a) Act of God |
| b) Fire, unless caused by the actual fault or privity of the carrier |
| c) arrest or restraint of princes, rulers of people or seizure under legal process |
| d) All of the above |
| Q2.In 1993, the Government of India set up a Committee under the Chairmanship of former RBI Governor, _____ to propose recommendations for insurance sector reforms. |
| a) Janaki Ram |
| b) Jyoti Basu |
| c) Srikrishna |
| d) R.N. Malhotra |
| Q3.Any risk management program, in order to be successful, should have how many C's? |
| a) Two |
| b) Four |
| c) Five |
| d) Eight |
| Q4.One of the following documents is not necessary for export claims |
| a) Original policy |
| b) Bill of lading |
| c) Bill of entry |
| d) Invoice |
| Q5.What is not a shipping document |
| a) Bill of Lading |
| b) Bill of Entry |
| c) Mate Receipt |
| d) Invoice |
| Q6.The marine policies can be transferred by assignment unless expressly it is prohibited |
| a) they may be assigned either before or after the loss |
| b) they may be assigned only before the loss |
| c) they cannot be assigned at all |
| d) none of the above |
| Q7. Which of the following does not form a part of a successful risk management program? |
| a) Commitment |
| b) Communication |
| c) Co-operation |
| d) Conservation |
| Q8.Average Adjusters, however, are not permitted to waive the deductions where a ship is older than ____. |
| a) 15 years of age |
| b) 20 years of age |
| c) 25 years of age |
| d) 30 years of age |
| Q9.The maximum percentage of loss payable under the Increased value insurance clause: |
| a) 100% of Sum Insured |
| b) 110% of sum Insured |
| c) 75% of the sum insured |
| d) 50% of the sum insured. |
| Q10.Which of the following is known as a 'Floating policy'? |
| a) Specific policy |
| b) Open policy |
| c) Annual policy |
| d) Package Policy under Duty Exemption Scheme |
Click Here for Answer Key |