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

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