IC74-LIABILITY INSURANCE MOCK
LIABILITY INSURANCE IC74 MOCK-CLICK HERE
| Q1.What means the territory specified in the schedule? |
| a) Coverage territory |
| b) Hostile fire |
| c) Damage |
| d) Bodily injury |
| Q2.Which of the following is correct about Crime? |
| a) Grounds-Civil wrongdoing |
| b) Law-Common law |
| c) Initiating party-victim |
| d) Action taken-Prosecution by state |
| Q3.In India, CGL products are known by which of the following names? |
| a) Combined General liability and common General liability policy |
| b) Combined General Liability only |
| c) Common General Liability only |
| d) None of the above |
| Q4.What refers to if the test of Reasonable Foreseeability in Wagon Mound Case? |
| a) Duty of care |
| b) Causation between breach and injury |
| c) Breach of duty |
| d) Injury or damage |
| Q5._____ is the maximum payable for the sum of damages covered under coverage A and medical expenses under Coverage C because of bodily injury and property damage arising out of one occurrence. |
| a) Each Occurrence Limit |
| b) Personal and Advertising injury limit |
| c) Premises rented to Insured limit |
| d) Medical Expenses limit |
| Q6.Which policies are akin to DIC/DIL Policies with the difference that it covers more than one class of business and it has its origin in the USA and was designed to provide a uniform standard of cover amongst various states having different regulations? |
| a) Liability policies |
| b) Admitted policies |
| c) Speculative policies |
| d) Umbrella policies |
| Q7.Which of the following are important factors for determining the combined operating ratios? |
| a) Expense ratio |
| b) Commission ratio |
| c) Incurred claims ratio |
| d) All of the above |
| Q8.Carriers Legal Liability Insurance Policy cover is during transit, incidental storage, transshipment, and upto ___ after reaching the final place. |
| a) 7 days |
| b) 15 days |
| c) 30 days |
| d) 45 days |
| Q9.Which method is the oldest and it involves submission of the details of each proposal to the re-insurers who have the option or faculty of accepting or rejecting the proposal? |
| a) Treaty method |
| b) Facultative method |
| Q10.Which condition provides for settlement of difference under the policy regarding the amount of claim through arbitration? |
| a) Condition 5 |
| b) Condition 8 |
| c) Condition 10 |
| d) Condition 15 |