IC66 MARINE INSURANCE CLAIMS -12
| Q1.Which of the following step involve the study of the types of cargo transported by the insured and the risks associated with the nature of the cargo? |
| a) History of losses is thoroughly analyse |
| b) Preliminary meeting of all stakeholders |
| c) Solution should be defined and recommendations made |
| d) Review the logistics chain and the cargo risk |
| Q2.Which of the following Acts codifies the law relating to marine insurance? |
| a) Insurance Act, 1938 |
| b) IRDA Act, 1999 |
| c) Institute Cargo Clauses, 1982 |
| d) Marine Insurance Act, 1963 |
| Q3.Contract of affreightment issued during ocean transits is known as : |
| a) Lorry receipts |
| b) Bill of leading |
| c) Airway consignment note |
| Q4.Which are prone to thefts and hijacks during road transits in India. Loss Control measures could include movements only by GPS-fitted trucks, or accompanied by escort vehicles/ armed guards? |
| a) Coal |
| b) Copper and Copper products |
| c) Steel coils |
| d) Cargo requiring controlled temperature during transit |
| Q5.What is forcible robbery at sea, whether committed by marauders from outside the ship, or by mariner or passengers within it? |
| a) Piracy |
| b) Subrogation |
| c) Abandonment |
| d) Deductibles |
| Q6.For claims below ____, the same can be surveyed in the house or be waived as the need be. |
| a) Rs.5,000 |
| b) Rs.10,000 |
| c) Rs.15,000 |
| d) Rs.20,000 |
| Q7.At what point in time does an insurer receive the right of subrogation? |
| a) Before the claim is settled |
| b) During the claim settlement process |
| c) After the claim is settled |
| d) Does not receive the right |
| Q8.The assured may not be interested in the subject matter insured at the time of the loss. Say whether True or False. |
| a) True |
| b) False |
| Q9.A package Insurance Policy would cover : |
| a) Property damage |
| b) Port blockage |
| c) Liability for Errors and Omission |
| d) All of the above |
| Q10.Which Cargo is also called Over-dimensional Cargo or Critical cargo? |
| a) Bulk cargo |
| b) Liquid cargo |
| c) Heavy-lift Cargo |
| d) Solid Cargo |