IC77 ENGINEERING INSURANCE EXAM - 24
| Q1.Does the Time Excess period depend on which of the following? |
| a) The type of plant/ equipment |
| b) The replacement time for critical items |
| c) The location of the site |
| d) All of the above |
| Q2.Hot Testing under EAR policy means |
| a) Plant is situated at a hot place |
| b) Checking of parts under hot condition |
| c) Testing of parts under full or partial load |
| d) Testing of parts under full load conditions |
| Q3.The main objective of ____ is to protect the leasing company's interests as the owner of installations and machinery leased for a certain number of years under various leasing contracts. |
| a) Contract Works Insurance |
| b) Machinery Insurance |
| c) Contractor's plant and Machinery Insurance |
| d) Machinery leasing insurance |
| Q4.Contract works policy generally given to Hydro-electric Project denotes for |
| a) CAR Policy |
| b) CPM Policy |
| c) Combination of CAR and EAR policy |
| d) Combination of CAR and CPM Policy |
| Q5.In cases, where the damage can be repaired, the basis of indemnification is the cost of restoration to working order based on the customary daily rates together with normal freight, erection cost, and other duties and taxes? |
| a) Machinery Insurance |
| b) Boiler and Pressure Plant Insurance |
| c) Contractor's plant and machinery insurance |
| d) Boiler and Pressure Plant Insurance |
| Q6.The ____ is the legal instrument that divides the financial risk and responsibilities between the principal and the contractor. |
| a) Project contract |
| b) Works contract |
| c) Assessment contract |
| d) None of the above |
| Q7.In a Construction project, who is responsible to their respective contractor for the quality of materials only? |
| a) Suppliers |
| b) The Employer |
| c) The Contractor |
| d) Sub-Contractors |
| Q8.In which section of the insurance policy is the policy number mentioned? |
| a) Heading |
| b) Preamble |
| c) Schedule |
| d) Conditions |
| Q9.Which of the following is not true in EAR policy: |
| a) Fire policy cannot be issued during the testing period. |
| b) Duration of the testing period cannot be more than 12 months. |
| c) Testing period ceases with the commencement of the commercial production |
| d) All are true. |
| Q10.In insurance parlance, DSU stands for |
| a) Delay in start-up (insurance) |
| b) Derivatives stock units |
| c) Deadstock under insurance |
| d) Diluted stock undertaking. |