IC29 Mock Test Sample 11

Q1. Aviation liability includes:
a) Passenger and third-party liability
b) Only hull
c) Only crew
d) Only PA cover

Q2. Claims governance includes:
a) Policies, procedures, controls and monitoring
b) Only premium pricing
c) Only marketing
d) Only audit

Q3. Specific disease waiting period is commonly:
a) 1–2 years
b) Day 1 coverage
c) 5 years
d) 10 years

Q4. Essential marine cargo claim documents include:
a) Claim form, invoice, B/L and survey report
b) Only invoice
c) Only B/L
d) Only survey report

Q5. A valid claim should be:
a) Within policy period for covered peril
b) Outside policy period
c) Intentionally caused
d) Excluded under policy

Q6. Half month wages × age factor formula applies for:
a) Death and PTD compensation under EC Act
b) Only TTD
c) Only burglary
d) Only motor claims

Q7. Insurer’s salvage policy refers to:
a) Internal guidelines for salvage handling
b) Premium pricing
c) Bonus rules
d) Audit policy

Q8. PI premium depends on:
a) Profession, qualifications and claims history
b) Only commission
c) Only DL
d) Only premium amount

Q9. Constructive total loss means:
a) Repair cost exceeds insured value
b) Partial loss only
c) Complete destruction only
d) Minor damage

Q10. GA contribution in marine is:
a) Shared by all interests in venture
b) Paid only by insured
c) Paid only by insurer
d) Premium adjustment

Q11. Photographs in survey serve to:
a) Provide visual evidence of loss
b) Decorate report
c) Increase survey fee
d) Bonus calculation

Q12. Partially damaged buildings are settled on:
a) Repair cost to pre-loss condition
b) Full SI always
c) Unlimited rebuilding cost
d) Salvage value only

Q13. Salvage and subrogation are:
a) Different concepts
b) Same thing
c) Premium based
d) Bonus based

Q14. Event Insurance covers:
a) Event cancellation or abandonment
b) Stocks
c) Vehicles
d) Fire only

Q15. Pet insurance covers:
a) Veterinary expenses and pet liability
b) Stocks
c) Buildings
d) Vehicles

Q16. War perils in cargo cover include:
a) War, rebellion and hostilities
b) Theft only
c) Delay only
d) Wear and tear

Q17. Moral hazard refers to:
a) Behaviour of insured increasing risk
b) Physical condition of property
c) Weather conditions
d) Age of insured

Q18. Recovery and customer relations should:
a) Preserve customer relationships
b) Damage customer trust
c) Increase premium
d) Focus only on bonus

Q19. Common law employee claim involves:
a) Proof of negligence
b) No-fault basis
c) Only insurance proof
d) Salvage process

Q20. Reasonable steps to minimise loss include:
a) Calling fire brigade and securing premises
b) Ignoring the loss
c) Increasing damage
d) Hiding evidence