IC74 LIABILITY INSURANCE - 17

Q1.The amount of compensation payable for permanent total disablement is ___ of monthly wages multiplied by the relevant factor.
   a) 25%
   b) 50%
   c) 60%
   d) 75%
 
Q2.Which section confers on the buyer the right among other things, to claim damages for breach of contract?
   a) Section 16
   b) Section 19
   c) Section 59
   d) Section 65
 
Q3.Which clause is about the loss of purely financial nature such as goodwill and to understand this exclusion, the definition of 'damage' explained earlier must be referred to?
   a) Clause 8.1
   b) Clause 8.2
   c) Clause 8.3
   d) Clause 8.4
 
Q4.The extension of coverage for sports facilities under a public liability policy is subject to all of the following conditions, except:
   a) The equipment and premise used for sports are kept property maintained
   b) Adequate guards and experienced trainers are on duty, where necessary
  c) Coverage is subject to specified limits (AOA/AOY) which form part of the overall limits
  d) There is a compulsory excess of 1/4% of the limit of indemnity for any one accident.
 
Q5.Storage risks such as depots, warehouses, godowns, tanks, and farms are examples of which risks?
   a) Industrial risks
   b) Non-industrial risks
   c) Machinery risks
   d) None of these
 
Q6.Which clause are acts of God such as flood, storm, hurricane, cyclone, etc. which may cause catastrophic losses? However, earthquake risk may be covered on payment of extra premium?
   a) Clause 8
   b) Clause 8.1
   c) Clause 8.2
   d) Clause 8.3
 
Q7.Does that mean a dispute where the person against whom a complaint has been made denies or disputes the allegations contained in the complaint?
   a) Report
   b) Consumer dispute
   c) Complaint
   d) Remarks
 
Q8.Which ratio will include the brokerage/commission paid to the intermediaries for procuring the business less commission earned from reinsurance?
   a) Commission ratio
   b) Expense ratio
   c) Incurred claims ratio
   d) None of the above
 
Q9.Does Phase III deal with which of the following?
   a) Workability
   b) Body of knowledge established
   c) Safety of the treatment
   d) Comparison with existing treatment
 
Q10.Which of the following is not covered under the scope of liability insurance?
   a) Director's and officers' liability
   b) Contractual liability
   c) Employer's liability
   d) Professional indemnity

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