IC72 MOTOR INSURANCE EXAM - 13
| Q1.In the courtroom, the arguments done by the lawyers are advanced on the basis of - 1. Pleadings 2. Admissions in cross-examinations 3. Exhibited documents |
| Only 3 |
| Only 1 and 2 |
| Only 2 and 3 |
| All 1, 2 and 3 |
| Only 1 and 3 |
| Q2.Under which circumstances does the contract of motor insurance permit the insurer to avoid its liability? 1. The Driving License is INVALID 2. The motor vehicle has remained unidentified 3. The Vehicle was used for a purpose other than the purpose for which it was insured |
| Only 1 |
| Only 2 |
| Only 3 |
| Both 1 and 2 |
| Both 1 and 3 |
| Q3.Before cancellation of the insurance policy by the insurer, which of the following conditions must be satisfied? 1. The original certificate of insurance is surrendered for cancellation 2. Minimum seven days’ notice is served before cancellation 3. The vehicle is insured elsewhere, at least for the liability cover |
| Only 2 |
| Only 1 and 2 |
| Only 2 and 3 |
| Only 1 and 3 |
| All 1, 2 and 3 |
| Q4.An insurance fraud happening due to the involvement of the insured person will be classified as a fraud due to ___ . |
| Internal Fraud |
| External Fraud |
| Natural Fraud |
| Minor Fraud |
| None of the above |
| Q5.Section 163A provides for a fixed amount of general damage in case of death such as __ for funeral expenses. |
| Rs 1000 |
| Rs 2000 |
| Rs 3000 |
| Rs 4000 |
| Rs 5000 |
| Q6.Who said - " Quality begins and ends with customers. The fundamental principle is that the quality is what the buyer defines it as not what the company defines it to be"? |
| Philip Kotler |
| Adam Smith |
| Peter Drucker |
| Philip Crosby |
| Jose Rose |
| Q7.A cover note which has to be issued in a prescribed form is initially valid for a period of _. |
| 3 days |
| 7 days |
| 15 days |
| 30 days |
| 60 days |
| Q8.Madhukar had a road accident and he suffered simple injuries. Which of these claims for damages will NOT be payable by the insurance company? 1. Fixed Global Compensation 2. Cost of X-ray taken 3. Loss of Dependency |
| Only 1 |
| Only 2 |
| Only 3 |
| Both 1 and 3 |
| All 1, 2 and 3 |
| Q9.What is the significance of IDV in motor insurance? |
| IDV is the replacement cost of the vehicle |
| IDV is the amount for which the vehicle is insured |
| IDV is the value which the insurer is ready to reimburse any time |
| IDV is the premium amount paid during the year |
| IDV is the recoverable value of the vehicle |
| Q10.Rajeev is 25 years old and wishes to apply for a driving license to drive his personal car. What is the maximum validity under the MV Act 1988 for such a licensing? |
| 10 years |
| 20 years |
| 22.5 years |
| 25 years |
| 30 years |