IC70 MARINE HULL INSURANCE UNDERWRITING AND CLAIMS - 09
| Q1.Normally, only three-fourths of the collision liability is covered under the _____ and the remaining one-fourth may be covered with the Protection and Indemnity (P and I) Clubs. |
| a) The Personal Insurance Clubs |
| b) The Personal Indemnity Clubs |
| c) Hull and Machinery policy |
| d) None of these |
| Q2.Section 64(2) of the Marine Insurance Act, 1963 defines ____ as expenses incurred by or on behalf of the assured for the safety or preservation of the subject-matter insured. |
| a) Particular Charges |
| b) Particular Average |
| c) Constructive total loss |
| d) General Average Loss |
| Q3.Which of the following is generally referred to as Risers? |
| a) Flexible Subsea Hoses |
| b) Floating Hose String |
| c) Product Swivel, Valves, and Piping |
| d) None of these |
| Q4.Identify incorrect statement |
| a) All marine policies are not freely assignable |
| b) Special declaration policy (SDP) is not assignable |
| c) Marine policy is not assignable when goods are on high seas |
| d) Marine policy is not assignable when goods are in a bonded warehouse |
| Q5.Which comprises underwriting representatives from both the Lloyd's and IUA company markets, representing the interests of those who write marine hull war business in the London Market? |
| a) The International Union of Marine Insurance |
| b) Joint War Committee |
| c) The Institute of London Underwriters |
| d) International Maritime Bureau |
| Q6.This hire is normally payable monthly in advance and this freight is at the risk of the shipowner, because damage to the ship due to insurable risks may result in total or partial loss of the ___. |
| a) Time charter hire |
| b) Freight payable and ship or cargo lost or not lost |
| c) Lump sum freight |
| d) Freight payable on delivery |
| Q7.The _____ is for an agreed amount in respect of the aggregate of all claims arising out of each separate accident or occurrence, including claims under Collision liability, protection and Indemnity, General Average and salvage, and Sue and Labor clauses. |
| a) Cancellation |
| b) Deductible |
| c) Exclusions |
| d) None of these |
| Q8.When did IRS attain full membership of IACS? |
| a) June 2010 |
| b) June 2011 |
| c) June 2012 |
| d) June 2013 |
| Q9.Part 2(Clauses 34 to 44) of International Hull Clauses comprises which of the following? |
| a) Principal Insuring Conditions |
| b) Claims Provisions |
| c) Additional Clauses |
| d) None of these |
| Q10.Which form of GA expenditure provided ship has entered the port or place or has returned to her place or port of loading in consequence of accident, sacrifice, or other extraordinary circumstances, which render that necessary for common safety or for carrying out repairs to damages caused by accident? |
| a) Extraordinary |
| b) Port of Refuge expenses |
| c) Salvage paid for services |
| d) Common Maritime Adventure |