IC67 MARINE INSURANCE EXAM - 19
| Q1.Sentimental damage is covered under. |
| a) ICC (C) |
| b) ICC (B) |
| c) ICC (A) |
| d) None of the above |
| Q2.Held covered means : |
| a) All events are automatically covered |
| b) All events as stipulated in the policy are covered. |
| c) All Events as agreed by the insurer subject to the condition of prompt notice and additional premium, if any, are covered |
| d) None of the above |
| Q3.Which of the following is true? |
| a) Open policies are issued to cover the export shipments |
| b) Duty policies are valued policies |
| c) Both valued and unvalued policies are permitted by Marine Insurance Act |
| d) None of the above. |
| Q4.Cargo ISM Endorsement relates to |
| a) Salvage Charges |
| b) Forwarding Charges |
| c) General Average charges |
| d) None of the above |
| Q5.Proximate Cause is |
| a) Remote cause |
| b) Indirect cause |
| c) Active and Efficient cause |
| d) Other |
| Q6.Under Institute Cargo Clauses (Air), insurance terminates on the expiry of and mdash; and mdash; and mdash; days after unloading of cargo from aircraft at the final place of discharge. |
| a) 30 days |
| b) 60 days |
| c) 7 days |
| d) 14 days |
| Q7.Which of the following is incorrect? |
| a) Bill of lading ocean transit |
| b) Consignment Note and amp;ndash; Road Transit |
| c) A WB : Air |
| d) Bill of Entry - Multi-Modal Transit |
| Q8.Under inland transit (rail/road) clause B on payment of extra premium (1), war risks can be covered (2) Strike riots and civil commotion risks can be covered |
| a) Statement 1 is True |
| b) Statement 2 is True |
| c) Both are true |
| d) Both are false |
| Q9.In the case of Marine Insurance, vessel approval is done by |
| a) GIC |
| b) GIPSA |
| c) Individual Companies |
| d) IRDA |
| Q10.Which of the following values is taken to work out the liability of the carrier, Port Trust, or other bailees? |
| a) Current value as of the date of establishing liability |
| b) Future value as on the date the goods are to be delivered |
| c) Net value as on the date of the loss at the place |
| d) Market value as on the date of the loss at the place where the goods are to be delivered |