IC70 MARINE HULL INSURANCE UNDERWRITING AND CLAIMS - 04
| Q1.Which is the mutual Insurance association of ship owners which insure the liabilities of the ship-owners which are not covered by the Hull and Machinery Underwriters? |
| a) Protection and Indemnity Clubs |
| b) Marine Hull Reinsurance |
| c) The Institute of London Underwriters |
| d) None of these |
| Q2.Group D of Institute Time Clauses deals with |
| a) Warranties |
| b) Claims procedure |
| c) Miscellaneous |
| d) Amount payable |
| Q3.Which of the following is not an exclusion to the Third Party Liability Policy? |
| a) Road Vehicle Liabilities |
| b) Employers liabilities |
| c) Liquidated damages |
| d) Physical loss/damage of Third Party property |
| Q4.The Rules of Practice presently are divided into how many sections? |
| a) Two |
| b) Four |
| c) Six |
| d) Eight |
| Q5.The difference between the value and the sum realized by the sale of the vessel is : |
| a) The sound value of the vessel |
| b) The amount to be made good in general average |
| c) The commercial invoice rendered to the receiver |
| d) The book value of the vessel |
| Q6.Calculate the premium? |
| a) Rs.10,00,000 |
| b) Rs.15,00,000 |
| c) Rs.17,00,000 |
| d) Rs.20,00,000 |
| Q7.If temporary repairs are incurred at a port of refuge, for common safety or of damage caused by general average sacrifice or in order to enable the adventure to be complete, the cost of such repairs may well be allowed in general average: |
| a) Under Rule XVI of York - Antwerp Rules, 1976 |
| b) Under Rule XVI of York - Antwerp Rules, 1974 |
| c) Under Rule XIV of York - Antwerp Rules, 1976 |
| d) Under Rule XIV of York - Antwerp Rules, 1974 |
| Q8.Joint War Committee(JWC) usually meets____. |
| a) Quarterly |
| b) Half-yearly |
| c) Annually |
| d) Once in Two years |
| Q9.Which is the process of reaching these reservoirs by drilling well-bores through the earth's surface? |
| a) Wellbore |
| b) Drilling |
| c) Onshore and Offshore well |
| d) Exploration |
| Q10.What is the remuneration or reward payable according to maritime law to salvors who voluntarily and independently of contract render services to rescue or save property at sea, such as a ship, her cargo, and freight at risk? |
| a) Unrepaired Damage |
| b) Extra charge |
| c) Maritime Charge |
| d) None of these |