IC77 ENGINEERING INSURANCE EXAM - 05

 21
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

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