IC77 ENGINEERING INSURANCE EXAM - 05
Q1.Which is not an exclusion in the CAR policy? |
a) Loss discovered at the time of inventory |
b) Loss or damage due to faulty design |
c) theft and burglary |
d) packing materials |
Q2.While machinery insurance covers accidental damage to machinery then MLOP indemnifies |
a) Capital loss |
b) Loss of Gross Profit |
c) Only standing charges loss |
d) Only material damage loss |
Q3. Which of the following is not covered by Industrial All Risk Policy |
a) Fire and Specified Perils |
b) Machinery Break down or Boiler explosion |
c) Business Interruption following Machinery Break Down or Boiler Explosion |
d) Business interruption following fire or burglary |
Q 4. Which of the following rules are not included under Safety Rules of Plant and Machinery? |
a) Rules of Hoists or Lifts |
b) Rules for examining the premises |
c) Rules for Revolving Machinery |
Q5.Risk financing comes under which stage of Risk management? |
a) First stage |
b) the Second stage |
c) the Third stage |
d) the Fourth stage |
Q6.___ which relate to political, social, or economic reasons or shortcomings in the management and errors in judgment such risks are not insurable and do not worry the underwriters. |
a) Speculative risks |
b) Advanced loss of profits |
c) Direct risks |
d) Operational risks |
Q7.Which of the following is not an add on the cover under a project policy |
a) Surrounding property |
b) Third-party liability |
c) Off-site storage and fabrication |
d) Debris of uninsured property |
Q8.The Construction of ___ may be by the closing of a natural valley with a dam, or formation of an artificial lake, construction of concrete container above or below ground. |
a) Bridge construction |
b) Reservoirs |
c) Tunneling |
d) Trenching |
Q9.Which of the following is false regarding Boiler explosion policy: |
a) Boilers outside India can be insured. |
b) Escalation benefit is allowed by charging 50% of the premium rate. |
c) This policy cannot be issued on an agreed value basis. |
d) None of the above. |
Q10.Risk inspections can be considered an important tool in the identification and measurement of risks. Say whether True or False. |
a) True |
b) False |