IC77 ENGINEERING INSURANCE EXAM - 09
| Q1.A special Contractors All Risk Insurance policy was created in ___ in 1934. |
| a) London |
| b) the U.S.A |
| c) Germany |
| d) Britain |
| Q2.The turnover which would have been achieved, had the accident not occurred, during the ____ after the planned date of completion of the insured works. |
| a) 3 months |
| b) 6 months |
| c) 12 months |
| d) 18 months |
| Q3.____is an arrangement where the liability of the reinsurer is limited up to a certain pre-determined amount of loss, in excess of the amount of loss borne by the ceding company which is shown as the Underlying Limit. |
| a) Facultative reinsurance |
| b) Quota share treaty |
| c) Surplus treaty |
| d) Excess of Loss treaty |
| Q4.Which testing is also known as operational and commissioning tests? |
| a) Hot testing |
| b) Cold testing |
| Q5.Failure of mechanical components can occur due to which of the following? |
| a) Lack of lubrication |
| b) Vibration |
| c) Open circuiting/ short-circuiting |
| d) All of the above |
| Q6.Which of the following risks is a pressure plant exposed to? |
| a) Distortion or breakage of the crankshaft |
| b) Explosion due to internal pressure and collapse |
| c) Mechanical and electrical breakdown |
| d) Cracking of cylinder heads due to overheating |
| Q7.Which is also known as Limited Maintenance cover? |
| a) Maintenance visits cover |
| b) Extended maintenance cover |
| Q8.Endorsements are issued on standard forms and must be carefully drafted to make the intention quite clear. Say whether True or False. |
| a) True |
| b) False |
| Q9.The New India Assurance Co.Ltd. started transacting engineering Insurance on a modest scale in ____ with the technical assistance of Munich Reinsurance Co. |
| a) 1923 |
| b) 1933 |
| c) 1943 |
| d) 1953 |
| Q10.A client approaches you and asks for coverage of External Data Media (without any backup) along with his electronic equipment, you will: |
| a) Accept the proposal by charging a normal premium. |
| b) Accept the proposal by charging an additional premium. |
| c) It is not permitted to issue EEI policy in this case. |
| d) None of the above. |