IC70 MARINE HULL INSURANCE UNDERWRITING AND CLAIMS - 14
| Q1.Full Stamp Duty becomes payable with the _____. |
| a) First Installment |
| b) Second Installment |
| c) Third Installment |
| d) Fourth Installment |
| Q2.n the case of _____, the person advancing the freight has an insurable interest, in so far as such freight is not repayable in case of loss. |
| a) Contingent interest |
| b) Advance freight |
| c) Postpaid freight |
| d) None of these |
| Q3.Which vessels usually have more than 5000 MT Gross Tonnage and are mechanically self-propelled Vessels of Steel construction and these vessels may be Liners or Tramps carrying cargo and or passengers employed in-home or foreign trade? |
| a) Sea or Ocean-going vessels |
| b) Sundry Vessels |
| c) General Cargo Vessels |
| d) None of these |
| Q4.Which of the following are Risks in SBM Operation? |
| a) Leakage in Risers, Hoses, etc., |
| b) Submarine pipeline damage due to vessels |
| c) Collision of the vessel with the buoy |
| d) All of the above |
| Q5.Which of the following type of insurance is secondary to the vessel's actual primary insurance such as Hull and Machinery, Hull Interest, etc.? |
| a) Ship Repairer's Liability Insurance |
| b) Insurance of Port Liabilities |
| c) Charterer's Liability Insurance |
| d) Mortgagee's Liability Insurance |
| Q6.Vessels other than Ocean-going Vessels are generally referred to as ____and gt; |
| a) Roll on - Roll off Vessels |
| b) Lighter Abroad Ship |
| c) Sundry Hulls - Coastal Vessels |
| d) Combination Carrier |
| Q7.In case of General Average Loss, the losses would be borne by all interests i.e ship, cargo, and Freight |
| a) In equal proportion of loss at the time of loss |
| b) In ratable proportion of loss at the time of loss |
| c) In ratable proportion of loss when the interests finally reach destination |
| d) None of the above |
| Q8.The erstwhile Institute of London Underwriters(ILU) has introduced various Hull Clauses for____. |
| a) Time Insurance |
| b) Voyage Insurance |
| c) Both Time and Voyage Insurances |
| d) None of these |
| Q9.Survey fees reimbursable to the insured in a marine policy to the extent of |
| a) 25% |
| b) 50% |
| c) 75% |
| d) 100% |
| Q10.Which is a representative organization for international and wholesale insurance and reinsurance companies operating in the London market? |
| a) The Institute of London Underwriters |
| b) The International Union of Marine Insurance |
| c) Joint War Committee |
| d) The International Underwriting Association of London |