IC77 ENGINEERING INSURANCE EXAM - 05
| Q1.Which is not an exclusion in the CAR policy? |
| a) Loss discovered at the time of inventory |
| b) Loss or damage due to faulty design |
| c) theft and burglary |
| d) packing materials |
| Q2.While machinery insurance covers accidental damage to machinery then MLOP indemnifies |
| a) Capital loss |
| b) Loss of Gross Profit |
| c) Only standing charges loss |
| d) Only material damage loss |
| Q3. Which of the following is not covered by Industrial All Risk Policy |
| a) Fire and Specified Perils |
| b) Machinery Break down or Boiler explosion |
| c) Business Interruption following Machinery Break Down or Boiler Explosion |
| d) Business interruption following fire or burglary |
| Q 4. Which of the following rules are not included under Safety Rules of Plant and Machinery? |
| a) Rules of Hoists or Lifts |
| b) Rules for examining the premises |
| c) Rules for Revolving Machinery |
| Q5.Risk financing comes under which stage of Risk management? |
| a) First stage |
| b) the Second stage |
| c) the Third stage |
| d) the Fourth stage |
| Q6.___ which relate to political, social, or economic reasons or shortcomings in the management and errors in judgment such risks are not insurable and do not worry the underwriters. |
| a) Speculative risks |
| b) Advanced loss of profits |
| c) Direct risks |
| d) Operational risks |
| Q7.Which of the following is not an add on the cover under a project policy |
| a) Surrounding property |
| b) Third-party liability |
| c) Off-site storage and fabrication |
| d) Debris of uninsured property |
| Q8.The Construction of ___ may be by the closing of a natural valley with a dam, or formation of an artificial lake, construction of concrete container above or below ground. |
| a) Bridge construction |
| b) Reservoirs |
| c) Tunneling |
| d) Trenching |
| Q9.Which of the following is false regarding Boiler explosion policy: |
| a) Boilers outside India can be insured. |
| b) Escalation benefit is allowed by charging 50% of the premium rate. |
| c) This policy cannot be issued on an agreed value basis. |
| d) None of the above. |
| Q10.Risk inspections can be considered an important tool in the identification and measurement of risks. Say whether True or False. |
| a) True |
| b) False |