IC70 MARINE HULL INSURANCE UNDERWRITING AND CLAIMS - 05
| Q1.Generally, the structure/body of a ship is referred to as ____. |
| a) Machinery |
| b) Hull |
| c) Ship Structure |
| d) None of these |
| Q2.The International Association of Classification Societies(IACS) is a technical NGO consisting of Thirteen marine classification societies, headquartered in __. |
| a) Germany |
| b) London |
| c) USA |
| d) China |
| Q3.Indian Register of Shipping(IRS) is a ship classification society established in India in __. |
| a) April,1925 |
| b) April,1945 |
| c) April,1965 |
| d) April,1975 |
| Q4.The term ____ implies some voluntary sacrifice of property made or expenditure incurred in a time of peril threatening all property involved in the common maritime adventure, with a view of preserving it from that peril. |
| a) General Average |
| b) Actual Loss |
| c) Labour charges |
| d) Particular Average |
| Q5.Clause 9 of Group C of Institute Time Clauses deals with |
| a) Sistership |
| b) 3/4th Collision Liability |
| c) Deductible |
| d) None of these |
| Q6.What is not a Marine Insurance Clause? |
| a) Inchmaree Clause |
| b) Sue and Labour Clause |
| c) Continuation Clause |
| d) Cross Liability Clause |
| Q7.Which means that freight is payable irrespective of the fact whether the goods are delivered or not and such freight, for insurance purposes, is treated as prepaid freight and is merged with the value of the goods and it is therefore at the risk of the owner of the goods? |
| a) Time charter hire |
| b) Freight payable and ship or cargo lost or not lost |
| c) Lump sum freight |
| d) Freight payable on delivery |
| Q8.Normally, only _____ of the collision liability is covered under the H and M policy and the remaining _____ may be covered with the protection and Indemnity(P and i) Clubs. |
| a) 2/4th, 1/4th |
| b) 3/4th, 1/4th |
| c) 1/4th, 3/4th |
| d) None of these |
| Q9.In 2002, the International Hull Clauses were introduced which were amended in ___. |
| a) 2003 |
| b) 2004 |
| c) 2005 |
| d) 2006 |
| Q10.Which of the following is not a step in drilling a well? |
| a) Drilling up a hole-section |
| b) Lowering casings into the hole |
| c) Filling water between the outer side of the casing |
| d) Repeat the process 3 or 4 times with gradually decreasing drill bit diameters and casings till the desire target depth is reached; depending upon the drilling program decided for the particular well |