IC70 MARINE HULL INSURANCE UNDERWRITING AND CLAIMS - 02
| Q1.Every person has an insurable interest who is interested in a marine adventure. Say whether True or False. |
| a) True |
| b) False |
| Q2.Which of the following are relatively small flat-bottomed vessels, generally used in port waters to carry cargo and passengers? |
| a) Dredgers |
| favour b) Barges |
| c) Lunches |
| d) Boats |
| Q3.In the event of failure to comply with the conditions of this notice of claim and tenders, the penalty of __ is to be deducted from the total of the ultimately ascertained claim. |
| a) 15% |
| b) 25% |
| c) 45% |
| d) 55% |
| Q 4. Under Ship Repairers Liability Insurance, Coverage includes |
| a) Any loss in respect of life and bodily injury |
| b) Any property owned by / leased ti / used by the assured |
| c) Loss or damage caused to the vessel under care custody and control of the repairer while being worked upon |
| d) Loss connected to vessels stored in the yard. |
| Q5.What is not a shipping document |
| a) Bill of Lading |
| b) Bill of Entry |
| c) Mate Receipt |
| d) Invoice |
| Q6.Builders Risk Insurance is the only clause in Hull Insurance, which offers an 'All Risks' Cover. Say whether True or False. |
| a) True |
| b) False |
| Q7.___ is the transfer of rights, titles, interests, and property, including liabilities in favor of the insurers. |
| a) Subrogation |
| b) Ab and onment |
| c) Contribution |
| d) Proximate cause |
| Q8.Which rules set out the general principles of general average, like 1) A definition of general average 2) The effect of fault 3) The Onus of Proof? |
| a) The Rule of Interpretation |
| b) The Lettered Rules |
| c) The Rule Paramount |
| d) Numbered Rules |
| Q9.Which of the following is the amount recoverable for Total loss? |
| a) The amount payable under the policy, subject to Deductible provided |
| b) The amount as computed in the same way as for GA expenditure |
| c) The full sum expended, subject to the ship being fully insured |
| d) None of these |
| Q10. Barges, Pontoons and Floating Cranes, Flats are examples of which Vessels? |
| a) Sailing Vessels |
| b) Inland Vessels |
| c) Open Vessels |
| d) None of these |