IC66 MARINE INSURANCE CLAIMS -16
| Q1.What were the Statutory Time Limitations on Recovery of Postal authorities for Filing Suit? |
| a) 1 year from date of booking |
| b) 2 years from the date of booking |
| c) 3 years from the date of booking |
| d) 4 years from the date of booking |
| Q2.Breakbulk cargo is also referred to as ____. |
| a) Liquid cargo |
| b) Heavy Cargo |
| c) General cargo |
| d) None of these |
| Q3.Which among the following document is issued by the insurer to indicate alterations to the policy? |
| a) Policy |
| b) Cover note |
| c) Binder letter |
| d) Endorsement |
| Q 4. Charters' liabilities are the___and liabilities of the charterer of a ship. |
| a) Marine and Hull |
| b) Ship and Voyage |
| c) Contractual and legal |
| d) Professional and Indemnity |
| Q 5. The term __ is defined as a person whose business or work is the tracing or missing property, parcels, or persons. |
| a) Investigators |
| b) Surveyors |
| c) Tracers |
| d) Insurance brokers |
| Q6.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 |
| Q7.What means any person or authority who is empowered to examine or scrutinize goods by or under any law for the time being in force to secure compliance of provisions of that law? |
| a) Material damage |
| b) Common Carrier |
| c) Competent authority |
| d) Pure salvage |
| Q8.insurance is purchased to __. |
| a) Obtain financial security |
| b) Invest money |
| c) Place a bet |
| d) Lower tax liability |
| Q9.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 |
| Q10.A ____ to define the purpose of the risk management exercise and the expected outcomes. |
| a) history of losses is thoroughly analyzed |
| b) preliminary meeting of all stakeholders |
| c) review the logistics chain and the cargo risk |
| d) solution should be defined and recommendations made |