IC72 MOTOR INSURANCE EXAM - 11
| Q 1. Which of these statement(s) is/are true with regards to the display of premium? 1. Own Damage and liability components of premium are required to be rounded off to the nearest rupee. 2. All permissible loadings on / discounts are required to be displayed separately 3. The own damage and liability component may be clubbed together in the package policy schedule |
| Only 3 |
| Both 1 and 2 |
| Both 2 and 3 |
| Both 1 and 3 |
| All 1, 2 and 3 |
| Q2.Principle of Insured Declared Value is applied to which of the following - 1. Theft claims 2. Total loss 3. Constructive total loss |
| Only 2 |
| Only 1 and 2 |
| Only 2 and 3 |
| Only 1 and 3 |
| All 1, 2 and 3 |
| Q3.A person wants to take a license to drive a transport vehicle carrying goods of a dangerous / hazardous nature. Such a license will be valid for a period of ___ as per the Motor Vehicles Act 1988. |
| 6 months |
| 1 year |
| 1.5 year |
| 2 years |
| 3 years |
| Q4.A vehicle has been classified as class ‘G’ as per the categorization of vehicles into classes. Which of the below vehicle is this class 'G' vehicle? |
| Goods Carrying Vehicles |
| Trailers |
| Road transit risks only vehicle |
| Internal risk only vehicle |
| MISC and SP type vehicle |
| Q5.Mr. X's car was badly damaged in an accident. The insurance company compensated him accordingly buy he argued that he was entitled to keep the damaged car also. What principle of insurance will be breached if Mr. X is allowed to keep the damaged car? |
| Principle of Insurable interest |
| Principle of Proximate cause |
| Principle of Utmost good faith |
| Principle of Indemnity |
| Principle of Subrogation |
| Q6.The factors to be considered while deriving own damage premium for passenger-carrying cars other than taxis are - 1. Passenger carrying capacity 2. The age of the vehicle 3. Cubic Capacity (cc) of the car 4. Zone for plying vehicles |
| Only 1 and 4 |
| Only 3 and 4 |
| Only 1, 2 and 3 |
| Only 2, 3 and 4 |
| All 1, 2, 3 and 4 |
| Q7.Section 147 of the Motor Vehicles Act 1988 mentions which of the following insurance covers? 1. Contractual liability 2. Liability can be incurred by the insured with respect to the death of or bodily injury of the owner 3. Damage to any property of a third party |
| Only 1 |
| Only 3 |
| Only 1 and 2 |
| Only 2 and 3 |
| All 1, 2 and 3 |
| 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 2 |
| Only 1 and 2 |
| Only 2 and 3 |
| Only 1 and 3 |
| All 1, 2 and 3 |
| Q9.What is the 'roadside assistance service' provided under a motor insurance policy? |
| Roadside assistance service is a service that provides snacks and beverages to insured at different points of their journey |
| Roadside assistance service is a service that provides help in case an insured is stranded on the road when his car breaks down |
| Roadside assistance service is a service that provides necessary resting points for the insured drivers and passengers |
| Roadside assistance service is a service that provides necessary tracking and GPS services to the insured |
| Roadside assistance service is a service that provides necessary help in case when the insured is met with an accident |
| Q10.Suresh had bought a new car 3 months back and it met with an accident. What depreciation will be deducted for parts replaced due to an accident in case the age of a vehicle is not exceeding 6 months? |
| 0.025 |
| 0.05 |
| 0.1 |
| 0.2 |
| NIL |