IC74 LIABILITY INSURANCE - 12

Que. 1 : Q1) Phase II deals with which of the following?

   1.  a) Workability

   2.  b) Body of knowledge established

   3.  c) Safety of the treatment

   4.  d) Comparison with existing treatment

Que. 2 : Q2) The principle of indemnity provides that an insured can recover hiss financial loss only to the extent of ____________.

   1.  a) The specified indemnity limit

   2.  b) The actual loss

   3.  c) The insurable interest

   4.  d) The sum insured

Que. 3 : Q3) Clinical trials follows how many phases?

   1.  a) One

   2.  b) Two

   3.  c) Three

   4.  d) Four

Que. 4 : Q4) What shall mean any actual or alleged breach of duty, breach of trust, neglect, misleading statement, omission, breach of warranty of authority or other act done or wrongly attempted by any Director or Officer?

   1.  a) Claim

   2.  b) A Wrongful Act

   3.  c) Director or Officer

   4.  d) Discovery period

Que. 5 : Q5) 'Stop Loss' treaty operators in respect of which of the following?

   1.  a) Fixed amount of underlying retention

   2.  b) Proportionate amount of underlying retention

   3.  c) Annual loss ratio incurred

   4.  d) Annual loss ratio expected