IC11 PRACTICE OF GENERAL INSURANCE EXAM - 03
| Q 1.A company insures its factory building for Rs 12 crore and the machinery for Rs 3 crore. The actual value for these was Rs 18 crore and Rs 4 crore respectively. In a fire, the building suffers damage to the tune of Rs 10 crore and machinery Rs 3.6 crore. What is the claim amount payable? |
| Rs. 6.85 crore |
| Rs. 7.83 crore |
| Rs. 9.37 crore |
| Rs. 10.5 crore |
| Rs. 13.6 crore |
| Q2.Which insurance is considered for the Indian Ports (Major Ports) Act? |
| Public liability insurance |
| Hull insurance |
| Workmen’s compensation insurance |
| Cargo insurance |
| Personal accident insurance |
| Q3.Employee State Insurance policy is applicable in the areas notified by the Government. The scheme is applicable to ___. |
| All Employees |
| Industrial Employees |
| Government Employees |
| Workmen |
| None of the above |
| Q4.Which policy covers Self Ignition damage? |
| Explosion policy |
| Loss of profit |
| Personal accident |
| Motor Insurance |
| Fire |
| Q5.____ allows Life insurance companies and General insurance companies to have a tie up to sell each other products. |
| Rural Insurance |
| Micro Insurance |
| Motor Insurance |
| Liability Insurance |
| Baggage Insurance |
| Q6.Analysis and Pricing of an insurance product is the job of ____. |
| Underwriter |
| Actuary |
| Surveyor |
| Risk Engineer |
| Insurer |
| Q7.All insurers in India will have to inform ___ every year while devising their reinsurance program. |
| IRDAI |
| RBI |
| LIC |
| Finance Ministry |
| Planning Commission |
| Q8.Third-Party Administrators (TPA) are separate organizations either owned by ___. |
| Hospitals |
| Pharmaceutical Firms |
| Insurance Brokers |
| Agents |
| Companies |
| Q9.Fitness and Permit certificate is required for claims processing in case of __. |
| Private Yacht |
| Two Wheelers |
| Private car policies |
| Goods carrying vehicles |
| Commercial vehicles |
| Q10.A furniture shop also has basement storage. Can the underwriters accept the risk? If yes, how? |
| No, furniture is supposed to be high risk |
| No, as a shop with basement storage cannot be insured |
| Yes, as per rules it can be insured and no inspection is required |
| Yes, but with proper inspection |
| Yes, as it will bring more business |