IC67 MARINE INSURANCE EXAM - 01
| Q1.What is the maximum period for filing suits for claims against the Indian post office in case of short delivery, delay, or damage to the parcel? |
| Three months |
| Six months |
| One year |
| Two years |
| Three years |
| Q2.Which of the following is the world's largest representative organization for international and wholesale insurance and reinsurance companies? |
| YUMI |
| GIC Re |
| IUA |
| IMDB |
| Lloyd's Registry |
| Q3.For which of the following, insurance cover for 'Transit Policies of Centrifuged Latex' to be issued to traders/buyers is offered? |
| Jute |
| Rubber estates |
| Tea crop |
| Coffee |
| cardamom |
| Q4.The Government War Risks Insurance Scheme under which Indian flag vessels can be insured is administrated by ___. |
| The Commerce Ministry |
| The Central Government |
| The State Governments for their respective states |
| The General Insurance Council |
| The General Insurance Corporation of India (GIC) |
| Q5.What is the basic principle of UCP? |
| Banks deal with money; other parties deal with money and /or goods |
| Banks deal with parties; other parties deal with documents and /or goods |
| Banks deal with documents; other parties deal with documents and /or goods |
| Banks deal with documents; other parties deal with parties and /or goods |
| Banks deal with money; other parties deal with documents and /or goods |
| Q6.___ establish standards, guidelines, and rules for the design, construction, and survey of ships and of other marine structures. |
| Ship classification societies |
| Port classification societies |
| Marine classification societies |
| Vessel classification societies |
| Craft classification societies |
| Q7.A ___ is one that can be brought to an end during the currency of the insurance by the occurrence of some event other than maritime perils. |
| Warranty |
| Valued Policy |
| Unvalued Policy |
| Defeasible interest |
| Contingent interest |
| Q8.SSS Insurance Company has got into an Aggregate Excess of Loss Treaty with MMM Reinsurance Company. The treaty covers annual losses in excess of Rs. 5 crores upto a further Rs. 4 crores. Which of the following statements is INCORRECT? |
| SSS Insurance Company will cover all losses upto first Rs. 5 crores |
| MMM Reinsurance Company will cover all losses above first Rs. 5 crores upto a further Rs. 4 crores |
| Any amount in excess of Rs. 9 crores will be shared equally among SSS Insurance Company and MMM Reinsurance Company |
| Any amount in excess of Rs. 9 crores will revert to SSS Insurance Company |
| None of the above |
| Q9.What is the maximum period of storage for Type I policy under the package policy of coffee? |
| 15 days |
| 30 days |
| 60 days |
| 90 days |
| 120 days |
| Q10.In case of goods arrived by sea, the insured should give written notice to the carrier within ____ of the landing of the goods, if loss or damage thereto was not apparent at the time of taking delivery. |
| one day |
| two days |
| three days |
| five days |
| seven days |