IC74 LIABILITY INSURANCE - 13
| Q1.Who in relation to any goods means a person who sells or distributes any goods for sale and includes the manufacture thereof, and when such goods are sold or distributed in package form, includes the packer thereof? |
| a) Manufacturer |
| b) Wholesaler |
| c) Retailer |
| d) Trader |
| Q2.Which of the following conditions must be met in order to prove professional negligence? |
| a) The service provided were of poor standard |
| b) The service provided where overcharged |
| c) There was a breach of duty of care |
| d) There was a breach of duty of care resulting in loss or damage |
| Q3.National Commission has jurisdiction to entertain complaints where the value of the goods or services and the compensation claimed should be ____. |
| a) Above Rs.50 lakhs |
| b) Above Rs.75 lakhs |
| c) Above Rs.90 lakhs |
| d) Above Rs.100 lakhs |
| Q4.Which of the following condition provides that there shall be no liability under the policy for a claim made after 5 years from the date of accident and this is as per provisions of the Act? |
| a) Consent of the insurance company |
| b) Turnover of the insured |
| c) Contribution |
| d) Time barred liability |
| Q5.The legal risk is assessed on the basis of factors such as jurisdiction, litigious societies, and class actions. Say whether True or False. |
| a) True |
| b) False |
| Q6.What refers to a standard of care Expected from a Reasonable Man? |
| a) Duty of care |
| b) Injury or damage |
| c) Breach of duty |
| d) Causation between breach and injury |
| Q7.Which clause provides that the indemnity applies to claims arising out of accidents occurring in the insured premises, during the period of insurance: first made in writing against the insured during the policy period? |
| a) Notification extension Clause (Clause 3(a) ) |
| b) Indemnity to other (Clause 4) |
| c) Indemnity(Clause 2) |
| d) Operative Clause (Clause 1) |
| Q8.Civil liability may arise under |
| a) Common law |
| b) Statutory law |
| c) Either a or b |
| d) None of these |
| Q9.Liability for claims for costs arising out of the recall of any product or part thereof is an explanation of: |
| a) Exclusion common to both product and public liability policies |
| b) Exclusion specific to product liability |
| c) Exclusion specific to public liability |
| d) None of the above |
| Q10.Under which condition the insured shall take reasonable precautions to prevent accidents and diseases and shall comply with all statutory obligations? |
| a) Condition 3 |
| b) Condition 5 |
| c) Condition 7 |
| d) Condition 9 |