IC70 MARINE HULL INSURANCE UNDERWRITING AND CLAIMS - 13
| Q1.The term __ includes the profit derivable by a ship-owner from the employment of his ship to carry his own goods or movable as well as freight payable by a third party but does not include passage money. |
| a) Indemnity |
| b) Freight |
| c) Subrogation |
| d) Contribution |
| Q2.Vessels under construction - these could fall under : |
| a) Builders' Risks policies |
| b) Ship Breaking policies and Beaching risks |
| c) All of the above |
| d) None of the above |
| Q3.Expend the term SOLAS |
| a) Security of Lost Articles at Sea |
| b) Security of Life at Sea |
| c) Safety of Cargo at Sea |
| d) Safety of Life at Sea |
| Q4.In-hull damage claims there may be three surveys - insurers' survey, owners' survey and : |
| a) Survey by the Salvage Association |
| b) Survey by the Marine Hull Society |
| c) Survey by the classification society |
| d) Survey by the registered marine surveyors |
| Q5.Clause 23 of Group A of Institute Time Clauses deals with |
| a) Pollution hazard |
| b) New for old |
| c) War Exclusion |
| d) Bottom treatment |
| Q6.In case of GA expenditure, assured can recover : |
| a) Ratable proportion of his expenses |
| b) 100% of the loss immediately from the insurer |
| c) The amount of underinsurance |
| d) 75% of the loss incurred |
| Q7.In Marine hull policy the subject matter for insurance shall be |
| a) Hull and; Machinery |
| b) Freight and Disbursement |
| c) Premium reducing |
| d) All the above |
| Q8.The subject matter of insurance of marine insurance is |
| a) ship and goods |
| b) freight and profits |
| c) disbursement and wages |
| d) all the above |
| Q9.Average Adjusters, however, are not permitted to waive the deductions where a ship is older than ____. |
| a) 15 years of age |
| b) 20 years of age |
| c) 25 years of age |
| d) 30 years of age |
| Q10.Which are looked upon as the maids of all work for the merchant fleets and are expected to render services which are many and varied and the basic requirements for these are stable under all conditions of operation, maneuverability, and adequate towing power? |
| a) Fishing Trawler with Net |
| b) Dredgers |
| c) Tugs |
| d) Fishing Boats |