IC74 LIABILITY INSURANCE MOCK SERIES
| Q1.The first part of the operative clause refers to which of the following? |
| a) Business of the insured |
| b) Indemnity |
| c) Risk measures |
| d) Indemnity limits |
| Q2.What means the period commencing from the retroactive date and terminating on the expiry date as shown in the Policy Schedule and the retroactive date is separately mentioned in the Schedule? |
| a) Policy period |
| b) Commencing period |
| c) Period of insurance |
| d) Renewal period |
| Q3.In the Extended claim reporting clause(clause 3(b) ), the time limit is generally for a maximum of _ from the date of expiry or cancellation of the policy, as the case may be. |
| a) 30 days |
| b) 90 days |
| c) 180 days |
| d) 250 days |
| Q4.__ to tangible property including consequential loss. Al such loss is deemed to occur at the time of physical injury. |
| a) Personal and advertising injury |
| b) Damage |
| c) Property damage |
| d) Injury |
| Q5.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 |
| Q6.Which of the following statement is correct with regards to the coverage provided under the compulsory public liability insurance policy? |
| a) Risk related to war and nuclear risk are covered at standard rates. |
| b) Risk related to war and nuclear risk are covered with extra premium. |
| c) Risk related to war and nuclear risk are covered at under riders. |
| d) Risk related to war and nuclear risk are excluded. |
| Q7.Which liability is that common law judgment? E.g.Public liability, professional liability, product liability, etc? |
| a) Insurance covering tort liability |
| b) Insurance covering civil liability |
| c) Insurance covering Statutory liability |
| d) Insurance covering criminal liability |
| Q8.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 |
| Q9.Notification has to be followed by completion of the claim form the reason for this is: |
| a) It is a legal requirement |
| b) It enables quick/smooth processing of claims |
| c) Both of the above |
| d) None of the above |
| Q10.What refers to, if a person in a moment of imminent danger acts in a way which causes injury to another, he will not be held liable in negligence if his act was not unreasonable in the difficult situation in which he was placed? |
| a) Contributory negligence |
| b) Act of God or Vis Major |
| c) Inevitable accident |
| d) Emergency |