Q 1. An insurer uses the rate of gross profit earned on the output during the period between the date of commencement of the business and the date of damage. When is this approach used by insurers?
Q 3. The words used in the policy are to be given their ______ meaning.
Q 4. An reinsurer wants to terminate the Surplus Treaty with the ceding insurer. Accordingly it issues a notice to the effect to the ceding insurer. However the ceding insurer claims that this is an invalid move by the reinsurer. Discuss this issue-
Q 5. Which problem can an assessor come across when the loss assessment of household goods and personal effects is being carried out?
Q 6. What is the fundamental thing which an insurer should take care of if it wants to ensure a reasonable profit on operations of the business?
Q 8. Which of these is the odd man out?
Q 9. What will give a fairly clear guide to the real rate of gross profit ?
Q 10. The risks emerging from which of these suppliers cannot be covered?
Q 11. Which of the following option is a crucial difference between a Normal policy and Output policy?
Q 12. An insurance company claims that the concept of VALUE has been defined under the insurance policy law as - 'Value of a property may be defined as the worth of anything in terms of something else for which it can be exchanged either with other goods o
Q 13. In the Risk Inspection Report, what should be mentioned in respect of the machinery used in the process of manufacture?
Q 14. The surveyor himself may prepare the estimate if ________ .
Q 15. What is the specific term used if the sum insured under each item of property is adequate?
Q 16. In the procedural aspects of claims, which of these section is not present?
Q 17. An insurer QQQ Ltd., is searching for the rates of tariff for restaurants and believes that the rates are mentioned in the Section IV of the tariff. Is QQQ Ltd. correct?
Q 18. 'Labour charges are required to be determined in case of loss assessment of a machine' - Which of the below statement is true in this respect.
Q 19. Which of the below statement is true with respect to accidental leakage from a sprinkler system which was installed to automatically discharge water when their is fire ?
Q 20. What is the possibility when it comes to variation in the degree of interruption hazard?
Q 22. As per which condition can an insurer ensure that the insured finalises the sum insured in an adequate manner ?
Q 23. Under a fire policy, where a breach of condition of the policy is alleged, _________ .
Q 24. Under the Process of Surveying and Loss Assessment, the surveyor follows a logical and orderly process and in this process the first step is _______ .
Q 25. Which of the following actions are required for the accurate assessment of a machine's loss?
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