ICS03 - Marine Cargo (Surveyor) Mock Test 08

Q1. What is a slip?

a) A mistake in the policy
b) A kind of dress
c) A correction in the policy
d) Evidence of contract of marine insurance

Q2. Every person has an insurable interest who is interested in a marine adventure. Say whether True or False.

a) TRUE
b) FALSE

Q3. What is partial loss or partial damage caused fortuitously by a peril insured against and thus does not include damage voluntarily incurred, such as General Average damage?

a) Particular Average
b) General Average
c) Partial Average
d) None of these

Q4. The maximum percentage of loss payable under Increased Value Insurance Clause is:

a) 100% of Sum Insured
b) 110% of Sum Insured
c) 75% of the Sum Insured
d) 50% of the Sum Insured

Q5. Railways Act ______ has replaced the old Railways Act of 1890.

a) 1949
b) 1969
c) 1989
d) 1999

Q6. PPI in marine signifies:

a) Policy Proof of Interest
b) Port Package Inundation
c) Package Port Indemnity
d) None of the above

Q7. Usually commodities are transported as __________.

a) Light Cargo
b) Light-Bulk Cargo
c) Break-Bulk Cargo
d) Bulk Cargo

Q8. In marine insurance, the insurable interest should be there:

a) At the time of issuance of policy
b) At the time of payment of claim
c) At the time of occurrence of loss
d) None of the above

Q9. Who deals with maritime law, and this could involve collisions at sea, maritime torts, industrial torts, transactional law and environmental law?

a) Tracer
b) Average Adjustors
c) Maritime Lawyer
d) Salvors

Q10. Which among the following is not a policy in the strictest sense?

a) Specific Policy
b) DSU Policy
c) STOP Policy
d) Open Cover