IC77 ENGINEERING INSURANCE EXAM - 08
| Q1.An insured desire to have a maintenance period of 8 months, for which the annual rate is Rs0.50 per mille and half year rate is Rs0.25 per mille. You will charge from the insured a premium rate of |
| a) Rs0.25 per mille. |
| b) Rs0.33 per mille. |
| c) Rs0.40 per mille. |
| d) Nil |
| Q2.___ is the period within the period of delay for which loss is borne by the insured. |
| a) Period of indemnity |
| b) Commercial operation period |
| c) Testing period |
| d) Time Excess |
| Q3. Maximum permissible escalation under an EAR policy is |
| a) 25% |
| b) 50% |
| c) 75% |
| d) None |
| Q4.Silent Risks means more than 30 days under |
| a) No Risk |
| b) No manufacturing activity including storage |
| c) No manufacturing activity excluding storage |
| d) Annual overhandling of machines/plants |
| Q5._____ containing information applicable to the particular contract e.g. Policy number, name of the insured, address and business, period of insurance, sum insured for each item if separately insured against the description of such item, amount of excess. |
| a) Attestation or signature Clause |
| b) Schedule |
| c) Conditions |
| d) The Preamble or recital clause |
| Q6.Which of the following is not included in substations? |
| a) Transformers |
| b) Boilers |
| c) Circuit breakers |
| d) Isolating switches of varying capacities |
| Q7.Select the expanded form of ALOP used in insurance |
| a) Advance Loss of Profits insurance |
| b) Agreed Loss of Profits insurance |
| c) Additional Loss of Profits insurance |
| d) Associated Loss of Profits insurance |
| Q8.Rusting damage is covered under |
| a) Marketing Insurance |
| b) Erection Insurance |
| c) Boiler and Pressure Plant Insurance |
| d) None of above |
| Q9.Risk inspections can be considered an important tool in _____. |
| a) Identification and measurement of risks |
| b) Identification and elimination of risks |
| c) Transfer and elimination of risks |
| d) Measurement and transfer of risks |
| Q10.This __ must be carried out before coming on the cover during the loading period which in any event should be before the 15th of April each year. |
| a) Concurrent machinery breakdown insurance policy |
| b) Pre-Insurance inspection |
| c) Maintenance of logbook |
| d) Moral hazard |