IC60 MARINE CARGO INSURANCE UNDERWRITING - 15
| Q1.Which Credit cannot be canceled by the buyer? |
| a) Revocable Credit |
| b) Confirmed Credits |
| c) Unconfirmed Credits |
| d) Irrevocable Credit |
| Q2.Marine Policy offers |
| a) Pure indemnity |
| b) Strict Indemnity |
| c) Adequate indemnity |
| d) Modified form of Indemnity |
| Q3.Which among the following containers is the best suited for transporting flammable chemical production? |
| a) Reefer containers |
| b) Tank containers |
| c) Ventilated containers |
| d) Flat track containers |
| Q4.Which policy covers loss of or damage to the property insured hereunder directly caused by Governmental or civil Authorities for the public welfare or to mitigate a pollution hazard or other civil disaster or threat thereof, provided that the accident or occurrence creating the situation which required such Governmental action would have resulted in a recoverable claim under the policy if the property assured would have sustained physical loss or damage as a direct result of such accident? |
| a) Concealed Damage Clause |
| b) Deliberate Damage - Pollution Hazard Clause |
| c) Airfreight Replacement Clause |
| d) Brands Clause |
| Q5.Which exclusion states that in no case shall this insurance cover loss, damage, or expense caused by strikers, locked-out workmen, or persons taking part in labor disturbances, riots, or civil commotions? |
| a) Exclusion 5 |
| b) Exclusion 6 |
| c) Exclusion 7 |
| d) Exclusion 8 |
| Q6.Expend the term SOLAS |
| a) Security of Lost Articles at Sea |
| b) Security of Life at Sea |
| c) Safety of Cargo at Sea |
| d) Safety of Life at Sea |
| Q7.Identify incorrect statement |
| a) All marine policies are not freely assignable |
| b) Special declaration policy (SDP) is not assignable |
| c) Marine policy is not assignable when goods are on high seas |
| d) Marine policy is not assignable when goods are in the bonded warehouse |
| Q8.Running down clause in a marine policy relates to |
| a) Age of the vessel |
| b) Collision |
| c) Termination of an insurance |
| d) Age of the consignment |
| Q9.Which one of the following cannot be termed as the valued policy |
| a) Fire Standard policy |
| b) Marine cargo policy |
| c) Marine hull policy |
| d) Jeweler section under householders policy |
| Q10.A Certificate of Insurance will carry which of the following details? |
| a) Name of the Insurer |
| b) Reference to the open policy number |
| c) Points of origin and destination |
| d) All of the above |