IC70 MARINE HULL INSURANCE UNDERWRITING AND CLAIMS - 04

Que. 1 : Q1) Based on the given table, Find H&M rate?

   1.  a) 0.5%

   2.  b) 1%

   3.  c) 1.5%

   4.  d) 2%

Que. 2 : Q2) Where the freight is pre-paid it does not contribute in GA as a separate interest, but is treated as :

   1.  a) Pre-paid freight only

   2.  b) Contingent expenses

   3.  c) Part of the value of goods

   4.  d) Passage money

Que. 3 : Q3) In case additional expenses are incurred to complete the voyage the charges incurred would be recovered under

   1.  a) General average clause

   2.  b) Sue and labor clause

   3.  c) Increased value clause

   4.  d) Limitation Clause

Que. 4 : Q4) According to the Marine Insurance Act 1963, a contract of marine insurance is valid

   1.  a) Only when it is in writing

   2.  b) Only when it is verbal

   3.  c) Only if it fulfils the essentials of a valid contract

   4.  d) It can be an oral agreement or a written contract

Que. 5 : Q5) Given below are some of the purpose of the ISM code. Select the odd one out.

   1.  a) To ensure safety at sea

   2.  b) To prevent human injury or loss of life

   3.  c) To stop piracy

   4.  d) To avoid damage to environment and ship