IC66 MARINE INSURANCE CLAIMS -12

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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

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