IC66 MARINE INSURANCE CLAIMS - 08

Que. 1 : Q1) If the vessel has sailed but premium was not paid in advance, then the Insurance Company

   1.  a) Can give the coverage by accepting the premium

   2.  b) Can refuse the coverage

   3.  c) Can provide coverage on Ex Gratia basis

   4.  d) All of the above

Que. 2 : Q2) The word ___________ means the loss must be caused by some event occurring outside of the property insured and Natural deterioration of the property itself or a loss caused by something inherent to the product is usually not covered unless specifically insured.

   1.  a) Physical

   2.  b) External

   3.  c) Fortuitous

   4.  d) None of these

Que. 3 : Q3) What refers to the free space left in the tanks after loading liquids in bulk?

   1.  a) Handling

   2.  b) Ullage

   3.  c) Draft survey

   4.  d) Documentation

Que. 4 : Q4) If a ship 'missing' , section 58 of the Act provides that if no news has been received after the lapse of a reasonable period, than :

   1.  a) The ship is presumed to be an actual total loss

   2.  b) The cargo on board is deemed to be an actual total loss

   3.  c) Both the above are presumed to be an actual total loss

   4.  d) Neither ship, nor cargo are presumed to be an actual total loss

Que. 5 : Q5) Which from of GA expenditure that is commonly encountered is 'salvage' paid to their party for services rendered to a vessel and her cargo in time of distress?

   1.  a) Extraordinary

   2.  b) Port of Refuge expenses

   3.  c) Common Maritime Adventure

   4.  d) Salvage paid for services