IC77 ENGINEERING INSURANCE EXAM - 04
| Q1.What is covered under the construction phase of the offshore operations of Oil and Gas? |
| a) Vessels |
| b) Driving Steel Piles |
| c) Drilling Units and Equipment |
| d) Off-Shore Platform |
| Q2.Which of the following is not true for MBD policy |
| a) It cannot be issued on a first loss basis. |
| b) It cannot be issued with a bonus clause. |
| c) It can be issued on an agreed value basis |
| d) All are true. |
| Q3.Under CPM Policy, the rates and terms will depend on which of the following factors? |
| a) Type of machinery/Equipment and its Conditions |
| b) Working Environment on the Site |
| c) Maintenance and Upkeep System |
| d) All of the above |
| Q4.What is the main objective of CPM insurance? |
| a) To protect the construction tools and equipment against all construction damage. |
| b) To protect the plant and machinery against all wear and tear. |
| c) To protect the construction tools and equipment against all external damage. |
| d) To protect the under-construction structure against all natural perils. |
| Q5.Which policy is not issued for a period of more than 12 months |
| a) CAR |
| b) MCE |
| c) SCE |
| d) CPM |
| Q6.____ is normally used when the terms of an insurance contract are to be varied, and is attached to the policy document - the two together constitute evidence of the insurance contract. |
| a) Proposal form |
| b) Cover note |
| c) Policy |
| d) Endorsement |
| Q7.IAR Policy is subject to maximum deductible of: |
| a) Rs. 50,00,000 |
| b) Rs. 25,00,000 |
| c) No upper limit |
| d) None of above |
| Q8._____ where the policy is signed by an authorized official of the insurer giving the company's seal and date of issue of the policy. |
| a) The Preamble or recital clause |
| b) Conditions |
| c) Attestation or signature Clause |
| d) Schedule |
| Q9._____ is a sudden and violent rendering or tearing apart of the permanent structure of a boiler or pressure plant or any part or parts thereof by the force of internal steam, gas, or fluid pressure causing bodily displacement of the said structure and accompanied by the forcible ejectment of its contents. |
| a) Explosion |
| b) Collapse |
| c) Eruption |
| d) Inundation |
| Q10.CPM is |
| a) Coverage all-risk policy with inclusion of break down |
| b) All risk policy with the exclusion of breakdown |
| c) Self-propelled machinery on public/Private Road |
| d) None of the above |