IC77 ENGINEERING INSURANCE EXAM - 14
| Q1.Which of the following will not be classified as 'Mine' as per the definition under the Mine Act 1952? |
| a) All boring, boreholes and oil wells |
| b) All open cast workings |
| c) Premises, where ten or more workers are working, in any part of which a manufacturing process is being carried on with or without the aid of power |
| d) Any excavation whereby operation for the purpose of searching for or obtaining minerals has been or is being carried on. |
| Q2.Does the Questionnaire deal with specific information about which of the following? |
| a) Name |
| b) Address |
| c) Machinery |
| d) Sum-insured |
| Q 3.ABC Ltd is an industrial unit that has purchased a closed vessel exceeding 22.75 liters of capacity used expressly for generating steam under pressure. Under which of the following Acts can ABC Ltd obtain registration of such vessel before it can be used for industrial purposes? |
| a) The Indian Factories Act 1948 |
| b) The Safety Rules of Plant and Machinery |
| c) The Indian Boiler Act 1923 |
| d) The Indian Mines Act 1923 |
| Q4.Which of the following is false regarding Third Party Liability cover under a CAR policy |
| a) Sum Insured for TPL cover is re-instated after the occurrence of a loss by paying reinstatement premium. |
| b) TPL cover cannot be given during extended maintenance. |
| c) Policy excess is applicable to TPL claims. |
| d) TPL S.I cannot be more than Rs10 crores. |
| Q5.Who among the following can be beneficiaries under ALOP policies? |
| a) The principal of the project |
| b) Contractor |
| c) Sub-contractors |
| d) Suppliers |
| Q6.Which is of prime importance to ensure that industrial plants are not merely constructed and operated but also protected against threats of destruction from accidents like fire, explosion, breakdown, and other causes? |
| a) Direct losses |
| b) Indirect losses |
| Q7.Sum Insured (Gross Profit) under MLOP is subject to adjustment in the policy in the following manner |
| a) no adjustment is allowed |
| b) Upward adjustment up to 20% at the end of the policy period |
| c) Downward adjustment of the sum insured up to 50% at the end of the policy period |
| d) None of the above |
| Q8.Section 3 of the Electronic Equipment Insurance policy covers which of the following? |
| a) Increased Cost of Working |
| b) External Data media |
| c) Material Damage |
| d) None of these |
| Q9.Which policy should, therefore, remain in force preferably with the same insurer along with the Deterioration policy, and in view of the high loss potential acceptance of this class of business should be done with utmost care? |
| a) Technical inspection report |
| b) Concurrent machinery insurance policy |
| c) Underwriting considerations |
| d) Rating structure |
| Q10.Which of the following is not an exclusion under Contractors All Risk Insurance Policy |
| a) The first amount of the loss arising out of each and every occurrence shown as Excess in the Schedule; |
| b) Loss/damage during the erection of plant and machinery; |
| c) Normal wear and tear, gradual deterioration due to atmospheric conditions or lack of use or obsolescence or otherwise, rust, scratching of painted or polished surfaces or breakage of glass; |
| d) Loss or damage due to faulty design; |