IC77 ENGINEERING INSURANCE EXAM - 06
| Q1.In which of the following countries does the term 'Contract Work' refer to open Annual Floater policies for contractors who normally undertake construction work of similar nature in sufficiently large numbers? |
| a) The US |
| b) Britain |
| c) India |
| d) Europe |
| Q2.The aim of an insurer should be to devise an optimal ___ so as to achieve a balance between the risk of incurring a retained loss or an accumulation of losses and the cost of the required reinsurance. |
| a) Retention |
| b) Reinsurance program |
| c) Automatic reinsurance capacity |
| d) None of the above |
| Q3.Which of the following statements is true? (1) Machinery Loss of profits policy is granted only if there is Machinery Breakdown policy covering the machinery. (2) Loss under machinery Loss of profits is payable if the material damage under Machinery Breakdown policy is payable |
| a) Statement 1 is True |
| b) Statement 2 is True |
| c) Both are true |
| d) Both are false |
| Q4.The Engineers make inspections for different purposes including |
| a) Risk improvements |
| b) Loss Prevention Programmes |
| c) pre-acceptance inspections |
| d) All of the above |
| Q5.Marine and transit risks can be extended under which of the two engineering policies? |
| a) CAR and CPM |
| b) EAR and CECR |
| c) CAR and EAR |
| d) CAR and MB |
| Q6.Mobile construction equipment can be covered under |
| a) Motor Policy |
| b) CAR Policy |
| c) CPM Policy |
| d) Both a and c |
| Q7.CPM is |
| a) Coverage all-risk policy with inclusion of Breakdown |
| b) All risk policy with the exclusion of breakdown |
| c) Self-propelled machinery on Public / Private Road |
| d) None of the above |
| Q8.Project Policies are |
| a) All risk policy |
| b) Named Perils |
| c) Consequential Loss |
| d) Agreed Value |
| Q9.Under which Act, the government has provided for Inspectors who have the power to Enter any factory, Make examination of plants and machinery? |
| a) Indian Factories Act, 1948 |
| b) Safety Rules of Plant and Machinery |
| c) The Indian Mines Act 1923 |
| d) The Indian Boiler Act 1923 |
| Q10.Which section(s) of the EEI policy indemnifies the additional costs which the insured shall incur to ensure continued data processing on substitute equipment? |
| a) Section 1: Material damage |
| b) Section 2: External data media |
| c) Section 3: Increased cost of working (ICOW) |
| d) All sections |