IC74 LIABILITY INSURANCE - 20
| Q1.All of the following claims for doctors and medical establishments are specially excluded under professional liability policy coverage, except: |
| a) Professional service rendered the retroactive data |
| b) Third-party public liability |
| c) Acts committed in violation of law |
| d) Service rendered under the influence of intoxicants |
| Q2.That means that a loss incurred during the policy period is covered by the insurance contract, no matter when the claim is actually reported and it is commonly used in public and product liability insurance? |
| a) Occurrence trigger |
| b) Causation trigger |
| c) Losses discover the trigger |
| d) Manifestation trigger |
| Q3.Under Operative Clause, what is based on the Limit of Indemnity 'anyone accident' (AOA) and the turnover and these rates were based on a market agreement entered into by the four public sector insurers when the law came into place? |
| a) Interest |
| b) Disputes resolution |
| c) Premium |
| d) Interest |
| Q4.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 |
| Q5.The maximum monthly wages for calculation of compensation is enhanced to ____ with effect from 31st May 2010. |
| a) Rs.8,000 |
| b) Rs.12,000 |
| c) Rs.15,000 |
| d) Rs.20,000 |
| Q6.Which of the following activities is not part of an underwriting process? |
| a) Identification and critical evaluations of risks |
| b) Deciding the cover be offered |
| c) Financial the terms and conditions to be imposed |
| d) Collecting the premium from the proposer |
| Q7.Under clause 8.12, which of the following are exceptions to this exclusion where liability is covered? |
| a) Damage to property temporarily occupied or worked upon by the Insured, but liability for any defective workmanship is excluded |
| b) Damage to employees'/visitors' personal effects |
| c) Premises tenanted by the Insured |
| d) All of the above |
| Q8.The maximum time limit allowed for the notification of claims under the extended claim reporting clause is ___ from the date of expiry or cancellation of the policy? |
| a) 30 days |
| b) 60 days |
| c) 90 days |
| d) 120 days |
| Q9.Public liability insurance first originated in the UK in ____, when the first policy was issued to cover liability to third parties arising out of the use of horse-driven vehicles. |
| a) 1855 |
| b) 1865 |
| c) 1875 |
| d) 1885 |
| Q10.What is the maximum payable under coverage B? |
| a) Products-completed operations aggregate limit |
| b) General aggregate limit |
| c) Personal and Advertising Injury Limit |
| d) Master Control Program aggregate |