IC70 MARINE HULL INSURANCE UNDERWRITING AND CLAIMS - 10
| Q1.Under the Premium Installment Clause, Facility for payment of premiums by how many equal installments is allowed? |
| a) One |
| b) Two |
| c) Three |
| d) Four |
| Q2.What occupies a more important place in marine insurance than in other classes of insurance? |
| a) Premium |
| b) Reinsurance |
| c) Individuality |
| d) Elimination of loss |
| Q3.What may be broadly defined as the remuneration payable to the shipowner for the use of his ship for the carriage of goods? |
| a) Salvage |
| b) Freight |
| c) Refuge |
| d) General Average |
| Q4.Bucket type, Grab type, Hopper, cutter suction, etc. are types of: |
| a) Tugs |
| b) Liners |
| c) Tramps |
| d) Dredgers |
| Q5.Deliberate sinking of vessels to claim under Hull Insurance is known as |
| a) Scuttling |
| b) Ab and onment |
| c) Barratry |
| d) General Average loss |
| Q6.Which of the following documents are required for GA Claim? |
| a) A copy of Hull and Machinery Policy covering the accident period |
| b) Deck and Engine Log Books for the period covering casualty and repairs |
| c) A copy of the Underwriter's Surveyors' report of the survey |
| d) All of the above |
| Q7.In marine insurance, if either of the party does not follow utmost good faith |
| a) the contract is void. |
| b) The contract is valid |
| c) The contract becomes voidable |
| d) None of the above |
| Q8.In calculating the rate of premium to be changed, the H and M risk is divided into two parts. One is the rate for risk of total loss. The other is the rate for risk of : |
| a) Average Loss |
| b) Ex Total Loss |
| c) Other than Total Loss |
| d) All of the above |
| Q9.What was defined as doing something which ought either to be done in a different way or not at all or omitting to do something which ought to be done? |
| a) Negligence |
| b) Collision |
| c) Liabilities |
| d) None of these |
| Q10.In which type, if the goods are not delivered, the carrier is not entitled to freight but if the goods are delivered in a damaged condition, the carrier is not deprived of the right to receive the freight? |
| a) Time charter hire |
| b) Freight payable and ship or cargo lost or not lost |
| c) Freight payable on delivery |
| d) Lump sum freight |