IC72 MOTOR INSURANCE EXAM - 08
| Q1.In respect to the right to claim compensation under sections 140 and 163-A in case of a deceased victim, explain this provision under the MV Act 1988. |
| Section 140 is in addition to any other right to claim compensation on the principle of fault liability and specifically excludes the right to claim compensation under the scheme referred to in Section 163A |
| Right to claim compensation u/s 140 is in addition to the right to claim compensation under the scheme referred to in the Section 163A |
| These sections 140 and 163-A can be applied only when the claimant can prove the fault |
| Compensation can be claimed u/s 140 and 163-A in addition to any other right to claim compensation on the principle of fault. |
| The right to claim compensation u/s 140 should be calculated along with the right to claim compensation under the scheme referred to in Section 163A |
| Q2.Which category of the motor vehicle is constructed or adapted to carry more than six passengers, but not more than 12 passengers, excluding the driver, for hire or reward. |
| Trailer |
| Private Service Vehicle |
| Maxi cab |
| Motor cab |
| Motor car |
| Q3.The basic elements of customer service are ___. 1. Problem Solving 2. Assurance 3. Reliability |
| Only 1 and 2 |
| Only 2 and 3 |
| Only 1 and 3 |
| All 1,2 and 3 |
| None of the above |
| Q4.In India, the benefits of nationalization of the insurance sector are - 1. The insurance market is more stable 2. Increase in prices of insurance policies 3. Increase in the reach |
| Only 3 |
| Only 1 and 2 |
| Only 2 and 3 |
| Only 1 and 3 |
| All 1, 2 and 3 |
| Q5.Mr. Mahesh has a motor insurance policy that has an additional cover for ‘No Claim Bonus protection’. Unfortunately, his car got stolen. He then purchasing a new car. Mr. Mahesh wishes to apply to the insurance company to continue the NCB protection already availed earlier for his new car. Which document(s) have to be submitted by him? 1. Copy of previous policy 2. Proposal form 3. Declaration of NCB |
| Only 3 |
| 1 and 2 only |
| 2 and 3 only |
| 1 and 3 only |
| All 1, 2 and 3 |
| Q6.Under the settlement phase of the motor insurance claims procedure, the repairers are instructed to keep aside the ___ of damaged parts, if there are any, for being collected by the buyer nominated by the insurers. |
| discards |
| salvage |
| junk |
| residue |
| scrap |
| Q7.The insurance company must collect all relevant documents through the investigator for an accident case. Which of these documents does not form a part of 'Police Papers'? |
| Charge Sheet |
| Form 54 |
| F.I.R |
| Load Challan |
| Panchnama |
| Q8.A person holding a driving license can get his license revoked by the licensing authority if ____. 1. He is under the age of 18 years 2. He is a regular/habitual offender 3. He has used a motor vehicle in a cognizable offense |
| Only 1 and 2 |
| Only 2 and 3 |
| Only 1 and 3 |
| Only 3 |
| All 1, 2 and 3 |
| Q9.Damage to third-party property can also be insured under motor insurance. What can such property comprise of? 1. Livestock 2. Vehicle 3. Building |
| Only 2 |
| Only 1 and 2 |
| Only 2 and 3 |
| Only 1 and 3 |
| All 1, 2 and 3 |
| Q10.As per the IRDAI (Protection of Policy Holders Interest), claims settlement is required within __ of the date of receipt of all papers from the policyholders. |
| 10 days |
| 21 days |
| 30 days |
| 41 days |
| 60 days |