IC66 MARINE INSURANCE CLAIMS - 07

Que. 1 : Q1) Identify the wrong statement

   1.  a) Constructive total loss is a total loss claim

   2.  b) Constructive total loss is a loss occurred during the course of construction

   3.  c) Notice of abandonment is necessary for a constructive total loss claim

   4.  d) Constructive total loss is affected midway between actual total loss & partial loss

Que. 2 : Q2) Which of the following is correct?

   1.  a) Indemnity = Loss of GP during delay * Delay + Time Excess / Delay

   2.  b) Indemnity = Loss of GP during delay / Delay - Time Excess * Delay

   3.  c) Indemnity = Loss of GP during delay * Delay - Time Excess / Delay

   4.  d) Indemnity = Loss of GP during delay / Delay +Time Excess * Delay

Que. 3 : Q3) Which Act states that no legal suit or proceedings against the common carrier can start if a written notice about the loss or damage to the consignment is given to the common carrier is not given within 180 days from the date of booking of the Consignment?

   1.  a) Section 16

   2.  b) Section 18

   3.  c) Section 20

   4.  d) Section 22

Que. 4 : Q4) As per Section 64UM (2) of the Insurance ACT 1938, no claim for a loss which has occurred in India exceeding __________ can be settled by an insurer unless he has obtained a report of the loss from a licensed surveyor or loss assessor.

   1.  a) Rs.5,000

   2.  b) Rs.10,000

   3.  c) Rs.15,000

   4.  d) Rs.20,000

Que. 5 : Q5) Which Act allows common carrier to charge higher freight as compared to his normal rate of freight for shipment of any high vale cargo?

   1.  a) Section 11

   2.  b) Section 15

   3.  c) Section 19

   4.  d) Section 24