IC66 MARINE INSURANCE CLAIMS -12
Q1.Which of the following step involve the study of the types of cargo transported by the insured and the risks associated with the nature of the cargo? |
a) History of losses is thoroughly analyse |
b) Preliminary meeting of all stakeholders |
c) Solution should be defined and recommendations made |
d) Review the logistics chain and the cargo risk |
Q2.Which of the following Acts codifies the law relating to marine insurance? |
a) Insurance Act, 1938 |
b) IRDA Act, 1999 |
c) Institute Cargo Clauses, 1982 |
d) Marine Insurance Act, 1963 |
Q3.Contract of affreightment issued during ocean transits is known as : |
a) Lorry receipts |
b) Bill of leading |
c) Airway consignment note |
Q4.Which are prone to thefts and hijacks during road transits in India. Loss Control measures could include movements only by GPS-fitted trucks, or accompanied by escort vehicles/ armed guards? |
a) Coal |
b) Copper and Copper products |
c) Steel coils |
d) Cargo requiring controlled temperature during transit |
Q5.What is forcible robbery at sea, whether committed by marauders from outside the ship, or by mariner or passengers within it? |
a) Piracy |
b) Subrogation |
c) Abandonment |
d) Deductibles |
Q6.For claims below ____, the same can be surveyed in the house or be waived as the need be. |
a) Rs.5,000 |
b) Rs.10,000 |
c) Rs.15,000 |
d) Rs.20,000 |
Q7.At what point in time does an insurer receive the right of subrogation? |
a) Before the claim is settled |
b) During the claim settlement process |
c) After the claim is settled |
d) Does not receive the right |
Q8.The assured may not be interested in the subject matter insured at the time of the loss. Say whether True or False. |
a) True |
b) False |
Q9.A package Insurance Policy would cover : |
a) Property damage |
b) Port blockage |
c) Liability for Errors and Omission |
d) All of the above |
Q10.Which Cargo is also called Over-dimensional Cargo or Critical cargo? |
a) Bulk cargo |
b) Liquid cargo |
c) Heavy-lift Cargo |
d) Solid Cargo |