IC66 MARINE INSURANCE CLAIMS -10
| Q1.No suit or another legal proceeding shall be instituted against a common carrier for any loss of, or damage to, or damage to the consignment has been served on the common carrier before the institution of the suit or other legal proceeding and within _____ from the date of booking of the consignment by the consignor. |
| a) 150 days |
| b) 180 days |
| c) 220 days |
| d) 250 days |
| Q2.With reference to usage surveys, the reverse of ullage is referred to as : |
| a) Grounding |
| b) Hatching |
| c) Stacking |
| d) Carting |
| Q3.What were the Statutory Time Limitations on the Recovery of Railways for filing claims? |
| a) 30 days from date of booking |
| b) 3 months from date of booking |
| c) 6 months from date of booking |
| d) 9 months from date of booking |
| Q4.In marine insurance, even a voluntary and deliberate loss can be paid under |
| a) Total loss |
| b) Particular Average |
| c) No policy can cover voluntary and deliberate loss |
| d) General Average |
| Q5.Who advises the assured on documentation to be completed and procedures to be complied with and also coordinates with the insurer to ensure speedy and just settlement of a claim? |
| a) Loss assessors / Surveyors |
| b) Salvors |
| c) Tracers |
| d) Insurance brokers |
| Q6.The oldest international convention pertaining to sea carriage is the : |
| a) Brussels Protocol |
| b) Hague Visby Rules |
| c) Hamburg Rules |
| d) Rotterdam Rules |
| Q 7. Under Article IV of the COGSA Act 1925, the maximum liability of the carrier or the ship would be : |
| a) 666.67 SDR per packet or unit OR 2 SDR per kilogram of the gross weight of the goods lost or damaged whichever is higher |
| b) 666.67 SDR per packet or unit OR 2 SDR per kilogram of the gross weight of the goods lost or damaged whichever is lower |
| c) 867 SDR per packet or unit OR 3 SDR per kilogram of the gross weight of the goods lost or damaged whichever is higher |
| d) 867 SDR per packet or unit OR 3 SDR per kilogram of the gross weight of the goods lost or damaged whichever is lower |
| Q8.An effective step to avoid the situation of shortage claim is to arrange __ of the cargo and this means checking or keeping a record of the cargo loaded into or discharged from a vessel. |
| a) Bunker surveys |
| b) Draft surveys |
| c) Ullage surveys |
| d) Tally surveys |
| Q9.In Letter of Credit transactions, what is taken as collateral security by banks? |
| a) Letter of Credit |
| b) Insurance Policy |
| c) Goods |
| d) Vessels used for transportation |
| Q10.Which Loss occurs when the subject matter is destroyed and where the subject matter is so damaged as to cease to be a thing of the kind insured? |
| a) Constructive Total Loss |
| b) Actual Total Loss |
| c) Partial Loss |
| d) Marine Loss |