IC74 LIABILITY INSURANCE - 15
| Q1.Under which method, firstly the loss of annual dependency amount from the deceased's income is ascertained, out of which the amount the victim would have spent on him is deducted? |
| a) Nance's method |
| b) Punitive damages |
| c) Structured settlements |
| d) Multiplier method |
| Q2.According to the premium rules, in case of cancellation, Which of the following is the period in case of non-payment of premium? |
| a) 60 days |
| b) 6 days |
| c) 10 days |
| d) 16 days |
| Q3.What means any allegation in writing made by a complaint that the i) Goods bought by him suffer from one or more defects ii) Services hired or availed of by him suffer from a deficiency in any respect? |
| a) Report |
| b) Consumer dispute |
| c) Complaint |
| d) Remarks |
| Q4._____ and group means the items listed out and grouped under public liability Insurance Act, 1991 and the Rules framed thereunder. |
| a) Accident |
| b) Hazardous substance |
| c) Act |
| d) Handling |
| Q5.Which of the following is correct about Breach of contract? |
| a) Duty-Arises from law |
| b) Application of duty - All members of the society |
| c) Connection between parties required- Yes |
| d) Law for determination of damages - Reasonable foreseeability |
| Q6.Cancellation of policy by insured condition provides for cancellation of the policy by the insured owner by __ written notice. |
| a) 15 days |
| b) 30 days |
| c) 45 days |
| d) 60 days |
| Q7.The third pre-requisite to take civil action negligence is that the plaintiff proves that he has suffered ___ as a consequence of the breach of duty of care. |
| a) Contribution |
| b) Injury or damage |
| c) Subrogation |
| d) None of these |
| Q8.Phase I deals with which of the following? |
| a) Workability |
| b) Body of knowledge established |
| c) Safety of the treatment |
| d) Comparison with existing treatment |
| Q9.Clause 4 in a public liability policy provides for the extension to cover: |
| a) Liability of the official of the insured |
| b) Liability arising after the expiry date |
| c) Claims made after the policy period |
| d) Claims made before the policy period |
| Q10.Which of the following activities is not part of an underwriting process? |
| a) Identification and critical evaluations of risks |
| b) Deciding the cover to be offered |
| c) Financial the terms and conditions to be imposed |
| d) Collecting the premium from the proposer |