IC70 MARINE HULL INSURANCE UNDERWRITING AND CLAIMS - 07

Que. 1 : Q1) A ________ lender is an investor that lends money secured by a Mortgage. E.g.,banks, financial institutions.

   1.  a) Mortgage

   2.  b) Mortgagor

   3.  c) Mortgagee

   4.  d) None of these

Que. 2 : Q2) Which of the following best describes a single Buoy Mooring (SBM) ?

   1.  a) A loading buoy anchored offshore that serves as a mooring point and interconnect for takers

   2.  b) Transfer system by means of which crude oil gas is transferred from the VLCC to the shore vice versa

   3.  c) Both of the above

   4.  d) None of the above

Que. 3 : Q3) For policies less than _______, the installment facility is not available.

   1.  a) 12 months

   2.  b) 18 months

   3.  c) 24 months

   4.  d) 36 months

Que. 4 : Q4) A detailed identification of the subject matter insured is provided by inserting which of the following details?

   1.  a) Description of the vessel

   2.  b) Contract or yard number

   3.  c) Names of the builder and builder yards

   4.  d) All of the above

Que. 5 : Q5) Which of the following is an impact of de-tariffing Marine Hull insurance from April 2005?

   1.  a) Insurers are allowed to increase the rates according to logical formula

   2.  b) TAC should be consulted in case of doubts related to renewal of insurance

   3.  c) TAC should be consulted if premium rates need to be increased

   4.  d) Insurers are allowed to decide methods rates to follow for renewal of insurance