IC72 Mock Test Sample 8
IC72 Motor Insurance covers operational, legal, and service aspects of insurance including underwriting, claims, and compliance. Systems like Claim Search help insurers assess risk, detect fraud, and analyze claim history. Legal procedures such as written statements, claim timelines, and tribunal jurisdiction are crucial. Concepts like pecuniary loss, compensation calculation, and dependency assessment guide claims. Policies require proper documentation, inspection, and renewal procedures. Road risks include environmental factors like stray animals. Agreements like Knock for Knock reduce litigation. Permits, tariffs, and regulatory frameworks ensure smooth functioning. Efficient claim settlement remains the core service priority, ensuring customer satisfaction and trust in insurance operations.
1. Document required for demat units?
a) PAN card
b) Client Master / Demat statement
c) Bank statement
d) Passport
2. Loitering animals cause?
a) Environmental
b) Physical
c) Human
d) Wildlife
3. Claim Search System is used for?
a) Policy decision
b) Fraud detection
c) Claim history
d) All
4. Policy renewal after expiry?
a) Without formalities
b) With insurer approval
c) After inspection
d) Not possible
5. Written statement rules?
a) 30 days filing
b) Before hearing
c) Accept/deny liability
d) All
6. Pecuniary loss example?
a) Mental shock
b) Marriage loss
c) Conjugal loss
d) Business loss
7. Class A-1 vehicle?
a) Private carriers
b) Public carriers
c) Trailers
d) Passenger service
8. Claim filing time limit?
a) 60 days
b) 90 days
c) 180 days
d) 12 months
9. Tariffs reduce competition in?
a) Fire
b) Motor
c) Workmen
d) All
10. Untraceable certificate after?
a) 30 days
b) 60 days
c) 90 days
d) 120 days
11. Knock for Knock avoids?
a) Inspection
b) Premium
c) Litigation
d) Registration
12. Underwriting goods risk?
a) Fire
b) Theft
c) Breakdown
d) Visibility
13. Claimant can approach MACT when?
a) Employee accident
b) Dependent claim
c) Not at fault
d) Legal representative
14. Dependent compensation share?
a) Full income
b) Half
c) One-third
d) None
15. Permit for luxury buses?
a) Stage carriage
b) Tourist permit
c) Rent a cab
d) School bus
16. Policy cancellation notice?
a) 3 days
b) 5 days
c) 7 days
d) 10 days
17. Insurer can intervene?
a) Evidence stage
b) After award
c) Any stage
d) Before claim
18. Review order time limit?
a) 30 days
b) 60 days
c) 90 days
d) 120 days
19. Form 51 is used for?
a) Cover note
b) Proposal
c) Certificate of insurance
d) Policy
20. Primary service of insurer?
a) Issue cover note
b) Quick claim settlement
c) Investigation
d) Legal mediation
