IC77 ENGINEERING INSURANCE EXAM - 22
| Q1.The cold store owner is also under an obligation to _____ in which recordings of temperature humidity, section discharge, and oil pressure of the various compressors should be recorded at the four hourly intervals. |
| a) Maintenance of logbook |
| b) Maintenance of stock register |
| c) Underwriting considerations |
| d) Pre-Insurance Inspection |
| Q2.Which of the following is the Second stage in Risk identification? |
| a) Risk identification |
| b) Risk evaluation |
| c) Risk control |
| d) Risk financing |
| Q3.A key element in formulating an optimal reinsurance program is for the insurer to decide how much it wished to retain for its own account of risk it has written. Say whether True or False. |
| a) True |
| b) False |
| Q4.What should also be carried out prior to each renewal mainly with a view to checking the standard of refrigeration plant and additions and alterations in the storage arrangement, if any? |
| a) Concurrent machinery insurance policy |
| b) Technical inspection report |
| c) Underwriting considerations |
| d) None of these |
| Q5.ALOP policy is issued only in conjuction with a Material Damage-CAR / EAR policy. Say whether True or False? |
| a) True |
| b) False |
| Q6.The ___ was formed for this purpose and its first policy was written in 1867. |
| a) Boiler Explosion Act |
| b) Manchester Steam Users Association Act |
| c) Hartford Steam Boiler Inspection and Insurance |
| d) Coal Mines Act |
| Q7.What includes transformers, circuit breakers and isolating switches of varying capacities and these are as mentioned for transformers, switchgear, circuit breakers? |
| a) Transformers |
| b) Electric motors and generators |
| c) Substations |
| d) None of the above |
| Q8.Selected percentage increase under ESCALATION CLAUSE for Machinery or Building shall not exceed |
| a) 15% of the Sum insured |
| b) 50% of the sum insured |
| c) 10% of the Sum Insured |
| d) 25% of the Sum insured |
| Q9.Under which endorsement, each of the insured party is considered as if separately insured |
| a) Civil Works |
| b) Airfreight |
| c) Cross liability |
| d) Escalation |
| Q10.ALOP can be issued in the name of |
| a) Principal, contractors, subcontractors, and third parties |
| b) Principal, contractors, and subcontractors |
| c) Principal and contractors |
| d) Principal |