IC74 LIABILITY INSURANCE - 17
| Q1.The amount of compensation payable for permanent total disablement is ___ of monthly wages multiplied by the relevant factor. |
| a) 25% |
| b) 50% |
| c) 60% |
| d) 75% |
| Q2.Which section confers on the buyer the right among other things, to claim damages for breach of contract? |
| a) Section 16 |
| b) Section 19 |
| c) Section 59 |
| d) Section 65 |
| Q3.Which clause is about the loss of purely financial nature such as goodwill and to understand this exclusion, the definition of 'damage' explained earlier must be referred to? |
| a) Clause 8.1 |
| b) Clause 8.2 |
| c) Clause 8.3 |
| d) Clause 8.4 |
| Q4.The extension of coverage for sports facilities under a public liability policy is subject to all of the following conditions, except: |
| a) The equipment and premise used for sports are kept property maintained |
| b) Adequate guards and experienced trainers are on duty, where necessary |
| c) Coverage is subject to specified limits (AOA/AOY) which form part of the overall limits |
| d) There is a compulsory excess of 1/4% of the limit of indemnity for any one accident. |
| Q5.Storage risks such as depots, warehouses, godowns, tanks, and farms are examples of which risks? |
| a) Industrial risks |
| b) Non-industrial risks |
| c) Machinery risks |
| d) None of these |
| Q6.Which clause are acts of God such as flood, storm, hurricane, cyclone, etc. which may cause catastrophic losses? However, earthquake risk may be covered on payment of extra premium? |
| a) Clause 8 |
| b) Clause 8.1 |
| c) Clause 8.2 |
| d) Clause 8.3 |
| Q7.Does that mean a dispute where the person against whom a complaint has been made denies or disputes the allegations contained in the complaint? |
| a) Report |
| b) Consumer dispute |
| c) Complaint |
| d) Remarks |
| Q8.Which ratio will include the brokerage/commission paid to the intermediaries for procuring the business less commission earned from reinsurance? |
| a) Commission ratio |
| b) Expense ratio |
| c) Incurred claims ratio |
| d) None of the above |
| Q9.Does Phase III deal with which of the following? |
| a) Workability |
| b) Body of knowledge established |
| c) Safety of the treatment |
| d) Comparison with existing treatment |
| Q10.Which of the following is not covered under the scope of liability insurance? |
| a) Director's and officers' liability |
| b) Contractual liability |
| c) Employer's liability |
| d) Professional indemnity |