IC74 LIABILITY INSURANCE - 15
Q1.Under which method, firstly the loss of annual dependency amount from the deceased's income is ascertained, out of which the amount the victim would have spent on him is deducted? |
a) Nance's method |
b) Punitive damages |
c) Structured settlements |
d) Multiplier method |
Q2.According to the premium rules, in case of cancellation, Which of the following is the period in case of non-payment of premium? |
a) 60 days |
b) 6 days |
c) 10 days |
d) 16 days |
Q3.What means any allegation in writing made by a complaint that the i) Goods bought by him suffer from one or more defects ii) Services hired or availed of by him suffer from a deficiency in any respect? |
a) Report |
b) Consumer dispute |
c) Complaint |
d) Remarks |
Q4._____ and group means the items listed out and grouped under public liability Insurance Act, 1991 and the Rules framed thereunder. |
a) Accident |
b) Hazardous substance |
c) Act |
d) Handling |
Q5.Which of the following is correct about Breach of contract? |
a) Duty-Arises from law |
b) Application of duty - All members of the society |
c) Connection between parties required- Yes |
d) Law for determination of damages - Reasonable foreseeability |
Q6.Cancellation of policy by insured condition provides for cancellation of the policy by the insured owner by __ written notice. |
a) 15 days |
b) 30 days |
c) 45 days |
d) 60 days |
Q7.The third pre-requisite to take civil action negligence is that the plaintiff proves that he has suffered ___ as a consequence of the breach of duty of care. |
a) Contribution |
b) Injury or damage |
c) Subrogation |
d) None of these |
Q8.Phase I deals with which of the following? |
a) Workability |
b) Body of knowledge established |
c) Safety of the treatment |
d) Comparison with existing treatment |
Q9.Clause 4 in a public liability policy provides for the extension to cover: |
a) Liability of the official of the insured |
b) Liability arising after the expiry date |
c) Claims made after the policy period |
d) Claims made before the policy period |
Q10.Which of the following activities is not part of an underwriting process? |
a) Identification and critical evaluations of risks |
b) Deciding the cover to be offered |
c) Financial the terms and conditions to be imposed |
d) Collecting the premium from the proposer |