IC67 MARINE INSURANCE EXAM - 17
| Q1.Sellers Contingency Policy cover can be issued in case of |
| a) CIF contract |
| b) FOB contract |
| c) Either of the above (a) and (b) |
| d) None of the above (a) and (b) |
| Q2.Find the odd one out |
| a) Flag of convenience |
| b) Policy Register of Shipping |
| c) Lloyds Register |
| d) Bureau veritas |
| Q3.Which of the following exclusions does not appear under ICC (a) clause? |
| a) Inadequate packing |
| b) Inherent vice |
| c) Malicious damage |
| d) Loss by delay |
| Q4.A Marine Cargo policy is subject to an Excess of 1% per consignment. A loss to the tune of Rs 1 lakh happened in a consignment value of Rs 5 Lakh. Then the loss payable to the Insured will be |
| a) Rs 1 Lakh |
| b) Rs 95,000 |
| c) Rs 99,000 |
| d) Rs 50,000 |
| Q5.Who devises the Institute Time Clauses? |
| a) IRDA |
| b) General Insurance Corporation |
| c) Insurers |
| d) Institute of London Underwriters |
| Q6.Lloyds has how many distinct parts? |
| a) One |
| b) Two |
| c) Three |
| d) Four |
| Q7.The marine policies can be transferred by assignment unless expressly it is prohibited |
| a) they may be assigned either before or after the loss |
| b) they may be assigned only before the loss |
| c) they cannot be assigned at all |
| d) none of the above |
| Q8.For which of the following extra premium is charged? |
| a) Vessels Overage |
| b) Vessels under the tonnage |
| c) Nonclassification |
| d) All the above |
| Q9.In the Marine Insurance claim which of the following is correct. |
| a) If the claim is admissible the insurer will reimburse the Survey Fees. |
| b) If the claim is not admissible even then the insurer will bear the survey Fees. |
| c) The insured will not bear the survey expenses if the claim is not admissible. |
| d) Insured will bear the Expenses if the claim is admissible. |
| Q10.Which may be defined as an agreement whereby an insurer agrees to indemnify the insured, in the manner and to the extent agreed, for physical loss or damage to his cargo during marine transit? |
| a) Fire Insurance Policy |
| b) Life Insurance Policy |
| c) Marine Insurance policy |
| d) Agriculture Insurance Policy |