IC74 LIABILITY INSURANCE - 16
| Q 1. A liquor liability policy is designed for manufacturers distributors etc. of alcoholic beverages. the policy coverage: |
| a) Liability excluded under CGL policy |
| b) Liability included under CGl policy |
| c) Liability excluded in a public liability policy |
| d) Liability included in a public liability policy |
| Q2.Which has been defined as an event due to natural causes directly and exclusively without human intervention? |
| a) Act of God or Vis Major |
| b) Inevitable accident |
| c) Volenti No fit injuria |
| d) Contracting out |
| Q3.As per Provisions of Section 3 of the Public Liability, Insurance Act, 1991, if a person suffers a permanent Partial Disability, then how much is the maximum amount of relief payable? |
| a) Rs.25,000 |
| b) Rs.50,000 |
| c) Rs.75,000 |
| d) Rs.1,00,000 |
| Q4.How is the law of contract different from the law of tort? |
| a) It is actionable in both the civil and criminal courts |
| b) It usually involves a connection between two parties only. |
| c) Contractors are always written |
| d) The action is brought by the injured party in the tort |
| Q5.Which treat is a variation of the excess of loss treaty and this treat operates in respect of the annual loss ratio incurred and not in respect of any fixed amount of the underlying retention? |
| a) Surplus treaty |
| b) Stop loss treaty |
| c) Excess of loss treaty |
| d) Quota share treaty |
| Q6.Which Act was passed to i) Provide for better protection of the interests of consumers ii) Make provision for the establishment of consumer council and other authorities for the settlement of consumer's disputes? |
| a) The Consumer Protection Act,1986 |
| b) The Law of Strict Liability |
| c) Fatal accidents act,1855 |
| d) None of these |
| Q7.____ is equal sharing if permitted under other policies and this means that each insurer contributes an equal amount until its applicable limit is paid or no loss remains, whichever first occurs. |
| a) Excess insurance |
| b) Primary insurance |
| c) Secondary insurance |
| d) Method of sharing |
| Q8.Under all Redressal agencies, the order of the agencies shall be final unless an appeal is filed therefrom within ____ from the date of the award. |
| a) 30 days |
| b) 45 days |
| c) 60 days |
| d) 75 days |
| Q9.Which of the following statement about the claims series clause in a professional liability policy is incorrect? |
| a) It is a series of claims of losses and/or bodily injuries and/or deaths arising from the same cause or error of omission |
| b) All claims in the claims series are added together and treated as one claim |
| c) The claim is deemed to have been made on the data when the first claim was made in writing |
| d) No coverage is available for the claims which are made more than two years after the first claim of the series. |
| Q10.Contributory negligence occurs if the _____ has been a cause of the damages. |
| a) Claimant |
| b) Appellant |
| c) Civil action |
| d) Breach of contract |