IC29 Mock Test Sample 9
General insurance claims involve documentation, policy conditions, liability handling, and settlement procedures across marine, motor, aviation, and liability insurance. The claim process usually begins with a claim form or intimation letter, followed by survey and investigation. Specialized clauses such as escalation clauses, retroactive dates, and package policies provide wider protection under specific conditions. Marine and aviation claims require technical records and reports, while liability claims emphasize ethical handling and proof of defects or negligence. Organizations like IIISLA support professional standards for surveyors. Proper underwriting, strong controls, and compliance with policy usage conditions help reduce claim leakage, fraud, and disputes during claim settlement.
Q1. The first claim document is usually:
a) Claim form / intimation letter
b) Survey report
c) FIR
d) Policy copy
Q2. The Institute Cargo Clauses are published by:
a) International Underwriting Association (LMA/IUA)
b) IRDAI
c) RBI
d) WHO
Q3. Bush fire and jungle fire are:
a) Excluded under standard fire policy
b) Always covered
c) Always ex-gratia
d) Covered for homes only
Q4. Under PLI Act, claim is decided by:
a) Collector on no-fault basis
b) MACT
c) Consumer Forum
d) Civil Court only
Q5. IIISLA’s role is:
a) Self-regulatory professional body
b) Insurer
c) Reinsurer
d) Customs authority
Q6. General Average declaration in hull is made by:
a) Shipowner or master
b) Cargo owner
c) Hull insurer
d) Customs authority
Q7. A package motor policy covers:
a) OD + TP liability + PA cover
b) Only TP
c) Only OD
d) Only theft
Q8. Under RDC, apportionment follows:
a) Admiralty rules / cross-liabilities principle
b) Equal share only
c) Larger ship pays only
d) Cargo owner pays only
Q9. Aviation hull claim requires:
a) Accident and technical investigation reports
b) Only premium receipt
c) Only RC
d) Only DL
Q10. Claim leakage occurs due to:
a) Overpayment, fraud and weak controls
b) Good controls
c) Low claims ratio
d) Strict procedure
Q11. Underwriting findings should be:
a) Reported in survey report
b) Hidden
c) Ignored
d) Reinsured
Q12. Manufacturing business UWE typically includes:
a) Raw materials, power and freight
b) Salaries and rent only
c) Loan interest only
d) Depreciation only
Q13. Product liability requires proof of:
a) Product defect and causal link
b) Only invoice
c) Only customer complaint
d) Only premium receipt
Q14. Retroactive date in claims-made policy is:
a) Earliest date from which losses are covered
b) Policy end date
c) Premium payment date
d) FIR date
Q15. PL excess applies:
a) Per claim or occurrence as scheduled
b) Always nil
c) Only on legal costs
d) Only at renewal
Q16. Liability claim ethics require:
a) Fair and transparent handling
b) Always denying claims
c) Always delaying claims
d) Inflating losses
Q17. Policy assignment in marine cargo is:
a) Freely assignable by endorsement
b) Not permitted
c) Only by insurer
d) Only by customs
Q18. Claim under Section 164 is:
a) Structured no-fault compensation
b) Only fault-based
c) Only PA cover
d) Only TP property damage
Q19. Use of vehicle otherwise than stated in policy is:
a) Excluded
b) Fully covered
c) Ex-gratia only
d) Paid double
Q20. Escalation clause provides for:
a) Automatic increase in sum insured
b) Decrease in SI
c) Reinsurance only
d) Refund only
