IC74 LIABILITY INSURANCE - 01
| Q1.What refers to, if the plaintiff suffers injury or damages partly due to his own fault and partly due to the fault of the defendant, the damages will be reduced according to the blame attaching to the plaintiff? |
| a) Act of God or Vis Major |
| b) Inevitable accident |
| c) Contributory negligence |
| d) Emergency |
| Q2.Which clause is known as interpretation condition? |
| a) Clause 9.6 |
| b) Clause 9.7 |
| c) Clause 9.8 |
| d) None of the above |
| 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? |
| a) Claim series excess (clause 7.1) |
| b) Compulsory excess (clause 7.2) |
| c) Voluntary excess (clause 7.3) |
| d) Exclusions (clause 8) |
| Q4.Which of the following business is not covered under industrial risk? |
| a) A steel mill |
| b) A cement industry |
| c) A Warehouse |
| d) A textile unit |
| Q5.An underwriter, while developing the pricing for the company, has to ensure that the_____is within 100% of profitability of each and every portfolio? |
| a) Net incurred claims ratio |
| b) Net operating income ratio |
| c) Net combined operating ratio |
| d) Net operating expenses ratio |
| Q6.Directors and officer may be liable to Government regulatory bodies for which of the following? |
| a) For unfair dismissal |
| b) For breach of legislation |
| c) For misrepresentation of financial conditions |
| Q7.The questions in the proposal relate to which of the following? |
| a) The name and address of the companies |
| b) The nature of business and year of establishment |
| c) Previous claims |
| d) All of the above |
| Q8.The excess clause is applicable only for medical establishments where the insured has to bear a compulsory excess for each and some exclusions. Say whether True or False. |
| a) True |
| b) False |
| Q9.Which of the operative clause refers to the business of the Insured, the proposal and declaration, and payment of premium? |
| a) First part |
| b) Second part |
| c) Third part |
| d) Fourth part |
| Q10.That means moving into or onto an aircraft, watercraft, or auto, whilst in such craft or whilst being moved from such craft? |
| a) Loading or unloading |
| b) Employee |
| c) Executive officer |
| d) Leased worker |