IC72 Mock Test Sample 12
These questions focus on advanced IC72 Motor Insurance topics such as consignor liability, add-on covers like Return to Invoice, and principles like contribution and utmost good faith. It includes claim assessment concepts like Total Loss (TL) and Constructive Total Loss (CTL), underwriting factors, and third-party liability damages. Important areas include vehicle classification, zoning for premium rating, grievous hurt definitions, IDV calculation, and Own Damage premium factors. Legal aspects like cheque dishonor liability, advocate misconduct, and hit-and-run compensation are also covered. Additionally, it highlights No Claim Bonus (NCB) rules, automobile association discounts, and policy coverage under comprehensive insurance.
1. Proposed bill change on consignor liability:
a) Additional liability on consignor
b) Removes consignor liability
c) Increases weight limits
d) Shifts liability to owner
2. Add-on cover for invoice value difference:
a) Depreciation reimbursement
b) Return to invoice
c) NCB protection
d) Glass/plastic repair
3. Contribution principle not applicable in:
a) Death/bodily injury
b) Property damage
c) Employee liability
d) Passenger injury
4. Lord Wright’s Formula refers to:
a) Multiplier method
b) Structured method
c) Actuarial method
d) Just compensation
5. Total loss / CTL statements:
a) RC cancellation required
b) Repairs not economical
c) Cost > 75% IDV
d) All statements
6. Comprehensive policy covers:
a) Passenger death
b) Own damage
c) Third party liability
d) All of the above
7. Underwriting information includes:
a) Refurbished vehicle details
b) Vehicle age
c) Proposal form data
d) All of the above
8. Third party liability damages include:
a) Legal cost
b) Incurred damages
c) Interest
d) All of the above
9. Class C-3 vehicle refers to:
a) Goods vehicle
b) Private carrier
c) 3/4 wheeler <6 passengers
d) Public service vehicle
10. Zone A cities include:
a) Ahmedabad
b) Pune
c) Chennai
d) All of the above
11. Grievous hurt includes:
a) Bone fracture
b) Disfigurement
c) Loss of sight
d) All of the above
12. IDV of 2012 car in 2016:
a) 2,50,000
b) 3,75,000
c) 5,50,000
d) 6,25,000
13. OD premium depends on:
a) Cubic capacity
b) Zone
c) Vehicle age
d) All except driver age
14. Cheque dishonor liability:
a) Insurer not liable
b) Insurer fully liable
c) 50% liability
d) Pay then recover
15. Private car definition (IMT):
a) Below 1000 cc
b) 1000–1500 cc
c) Above 1500 cc
d) All of the above
16. Advocate misconduct governed by:
a) IPC
b) MV Act
c) Advocate Act
d) CrPC
17. NCB correct statement:
a) Max 50%
b) Not transferable
c) Applies to OD & TP
d) Only max 50%
18. Hit and run statements:
a) Identity unknown
b) Injury compensation
c) Death compensation
d) All correct
19. Non-disclosure violates:
a) Subrogation
b) Indemnity
c) Proximate cause
d) Utmost good faith
20. Automobile association discount:
a) 5% TP
b) 5% OD max 100
c) 5% OD max 200
d) 5% OD max 500
