IC74 LIABILITY INSURANCE - 01

Que. 1 : Q1) What refers to, if the plaintiff suffers injury or damages partly due to his own fault and party due to the fault of the defendant, the damages will be reduced according to the blame attaching to the plaintiff?

   1.  a) Act of God or Vis Major

   2.  b) Inevitable accident

   3.  c) Contributory negligence

   4.  d) Emergency

Que. 2 : Q2) Which clause is known as interpretation condition?

   1.  a) Clause 9.6

   2.  b) Clause 9.7

   3.  c) Clause 9.8

   4.  d) None of the above

Que. 3 : Q3) Under which clause, an accident may result in one claim from one injured person or several claims from than one person injured and again a single accident may result in a series of claims one after another?

   1.  a) Claim series excess (clause 7.1)

   2.  b) Compulsory excess (clause 7.2)

   3.  c) Voluntary excess (clause 7.3)

   4.  d) Exclusions (clause 8)

Que. 4 : Q4) Which of the following business is not covered under industrial risk?

   1.  a) A steel mill

   2.  b) A cement industry

   3.  c) A Warehouse

   4.  d) A textile unit

Que. 5 : Q5) An underwriter, while developing the pricing for the company, has to ensure that the___________is within 100% of profitability of each and every protfolio?

   1.  a) Net incurred claims ratio

   2.  b) Net operating income ratio

   3.  c) Net combined operating ratio

   4.  d) Net operating expenses ratio