IC66 MARINE INSURANCE CLAIMS - 08
| Q1.If the vessel has sailed but the premium was not paid in advance, then the Insurance Company |
| a) Can give the coverage by accepting the premium |
| b) Can refuse the coverage |
| c) Can provide coverage on Ex Gratia basis |
| d) All of the above |
| 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. |
| a) Physical |
| b) External |
| c) Fortuitous |
| d) None of these |
| Q3.What refers to the free space left in the tanks after loading liquids in bulk? |
| a) Handling |
| b) Ullage |
| c) Draft survey |
| d) Documentation |
| Q4.If a ship is 'missing', section 58 of the Act provides that if no news has been received after the lapse of a reasonable period, then: |
| a) The ship is presumed to be an actual total loss |
| b) The cargo on board is deemed to be an actual total loss |
| c) Both the above are presumed to be an actual total loss |
| d) Neither ship nor cargo is presumed to be an actual total loss |
| 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? |
| a) Extraordinary |
| b) Port of Refuge expenses |
| c) Common Maritime Adventure |
| d) Salvage paid for services |
| Q6.Marine Policy offers |
| a) Pure indemnity |
| b) Strict Indemnity |
| c) Adequate indemnity |
| d) Modified form of Indemnity |
| Q7.Under a Multimodal Transportation of Goods Act, 1993, the movement of goods should be from_____ to be called a multimodal transport. |
| a) One city to another |
| b) One state to another |
| c) One country to another |
| d) One continent to another |
| Q8._____is also referred to as general cargo. |
| a) Bulk Cargo |
| b) Break Bulk Cargo |
| c) Liquid Cargo |
| d) Solid Cargo |
| Q9.Which of the following statement is correct |
| Q10.Which of the following are essentials Features of General Average? |
| a) Extraordinary |
| b) Reasonable |
| c) Common Maritime Adventure |
| d) All of the above |