IC11 PRACTICE OF GENERAL INSURANCE EXAM - 08
| Q1.On what does the Carriage of goods by sea act determine the liability? |
| Marine port warehouse receipt |
| Transporters challan |
| Airways bill |
| Bill of Lading |
| Railway receipt |
| Q2.____ can intervene in the affairs of an insurer. |
| RBI |
| Finance Ministry |
| State Government |
| Policy holder |
| IRDAI |
| Q3.From the given options, the renewal notice is effected by ___. |
| payment of penalty |
| payment of renewal charges |
| payment of premium |
| payment of bonus |
| payment of insurance charges |
| Q4.The special declaration deposit premium of 100% of the premium on the sum insured is based on the _____ (marine insurance). |
| Estimated next year's turnover |
| Current year's turnover |
| Previous year's turnover |
| Last two year's turnover |
| First year's turnover |
| Q5.What is the final process know as to where the selected techniques have to be implemented by the firm through the different functional managers? |
| Management of Risks |
| Voluntary deductibles |
| Risk-retention |
| Implementation |
| Risk evaluation |
| Q6.Which social peril is included in Standard fire insurance? |
| Explosion |
| Lightning |
| Landslide |
| Floods |
| Riot |
| Q7.Which is the treaty in which the arrangement can be per risk or per event/accident? |
| Excess of loss treaty |
| Excess of profit treaty |
| Proportional treaty |
| Reinsurance treaty |
| Facultative treaty |
| Q8.Mr. X has a factory and he fears that excess rains will cause flooding, so he plans to shift the factory's location to a safer place. This is called ____. |
| Risk avoidance |
| Risk evaluation |
| Risk identification |
| Risk detection |
| Risk control |
| Q9.Who is exempt from the IRDA prescribed compulsory training for various intermediaries? |
| Surveyors |
| TPAs |
| Brokers |
| Corporate agents |
| Risk engineers |
| Q10.Employment Practices fall under what type of risk? |
| Strategic risk |
| Operational risk |
| Knowledge management risk |
| Compliance risk |
| Financial risk |