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

LIABILITY INSURANCE IC74 MOCK- CLICK HERE


Click Here for Answer Key