IC72 Mock Test Sample 11
These questions focus on key IC72 Motor Insurance concepts such as No Claim Bonus (NCB) transfer, contributory negligence, compensation principles, and compulsory deductibles. It also covers international practices (France, Australia), underwriting steps, and structured compensation under Section 163A. Important areas include MACT functions, accident reporting timelines, income definitions, and types of vehicles. The role of Claims Score in underwriting and maximum multiplier limits are also tested. Additionally, topics like Knock for Knock agreements, International Driving Permit (IDP), and in-house grievance committees (DICC/RICC) are included. Overall, it blends legal provisions, underwriting practices, claims assessment, and global insurance perspectives.
1. Evidence for NCB transfer includes:
a) Renewal notice
b) NCB confirmation letter
c) Written declaration
d) All of the above
2. Contributory negligence in France applies to:
a) Driver claims
b) Property damage claims
c) Injury claims
d) Uninsured vehicle claims
3. Compensation for pain and suffering considers:
a) Age of claimant
b) Medical cost
c) Duration of accident
d) Effect on daily life
4. Compulsory deductible applicable to:
a) Private cars & two-wheelers
b) Commercial vehicles
c) Goods vehicles
d) All vehicles
5. Change in suspension of license (drunken driving):
a) Authority shifted to any authorized officer
b) Increased suspension period
c) Suspension removed
d) Fine introduced instead
6. Third-party injury fund in Australia maintained by:
a) Motor Insurance Bureau
b) State Governments
c) Queensland Govt
d) NSW Govt
7. Heads of compensation in death cases:
a) Dependency, expectancy, consortium, medical
b) Income, future earning, medical
c) Consortium, academic year, life span
d) Dependency, expectancy, consortium, funeral
8. IDP acts as:
a) Replacement license
b) Visa document
c) Translation of license
d) Insurance proof
9. First step in underwriting:
a) Vehicle model knowledge
b) Scrutiny of proposal form
c) Vehicle age
d) Driving record
10. Purpose of Section 163A structured formula:
a) Reduce compensation
b) Funeral expenses only
c) Speedy compensation
d) Limit liability
11. Vehicles excluded from Knock for Knock:
a) Motorcycles
b) Luxury cars
c) Commercial vehicles
d) Vintage cars
12. NOT a factor in premium calculation:
a) Make & model
b) Gender
c) Vehicle color
d) Area
13. Accident information to Tribunal within:
a) 10 days
b) 20 days
c) 30 days
d) 40 days
14. Definition of income includes:
a) Business receipts only
b) All benefits (monetary/non-monetary)
c) Periodical receipts only
d) Gross minus deductions
15. Purpose of MACT:
a) Criminal cases
b) Property claims only
c) Compensation adjudication
d) Civil suits
16. Compensation difficulty for children:
a) Age 5–10
b) Age 10–15
c) Both same
d) No difficulty
17. Private car category includes:
a) Personal & business use (no goods)
b) Only personal use
c) Commercial use
d) Goods transport
18. Claims Score helps in:
a) Color preference
b) Predicting future claims
c) Engine capacity
d) Distance driven
19. Maximum multiplier prescribed:
a) 15
b) 16
c) 17
d) 18
20. Purpose of DICC & RICC:
a) Motor claims only
b) Settlement through mediation
c) Fraud investigation
d) Jurisdiction fixing
