ICS03 - Marine Cargo (Surveyor) Mock Test 15
These questions cover important concepts in Marine Cargo Insurance, Marine Delay in Start-Up (DSU), Air Waybills, Marine Clauses, Lloyd’s history, General Average, Indemnity and Insurable Interest. Key topics include DSU coverage associated with project cargo, the structure of Air Waybill numbers, Pair and Set Clauses, the historical development of Lloyd’s, Import Duty Insurance Clauses, essential features of General Average, and the nature of indemnity under marine policies. The questions also examine when insurable interest must exist, additional charges in cargo claims, and interpretation of ambiguous policy wording. These concepts are important for ICS03 Marine Cargo (Surveyor) examination preparation.
Q1. Which Marine insurance category covers are always given in conjunction with Marine Cargo Insurance where project materials are in transit and if there is a loss to the cargo during transit, which results in the project period getting extended beyond the scheduled completion date?
a) Marine Cargo Insurance
b) Marine Hull Insurance
c) Marine Liabilities
d) Marine DSU (Delayed Start-Up)
Q2. The first 3 digits represent the code of the airline and the next 7 digits are the __________.
a) Airline
b) Check-digit
c) Actual running number for the consignment
d) None of these
Q3. Which clause defines that where any insured consists of articles in a pair or set, the insurer is not to pay more than the value of any particular part or parts which may be lost without reference to any special value which such article or articles may have as part of the pair or set?
a) Institute Cargo Clause
b) Brands Clause
c) Airfreight Replacement Clause
d) Pair and Set Clause
Q4. In which year was the first Lloyd's Act passed in Parliament, which gave Lloyd's its legal status?
a) 1861
b) 1871
c) 1881
d) 1891
Q5. Which clause defines that this insurance is on increased value of cargo by reason of payment of Customs Duty at the port or place of destination and is subject to the same clauses and conditions as the primary insurance of the cargo?
a) Airfreight Replacement Clause
b) Import Duty Insurance Clause
c) Pair and Set Clause
d) Institute Cargo Clause
Q6. Which of the following are essential features of General Average?
a) Extraordinary
b) Reasonable
c) Common Maritime Adventure
d) All of the above
Q7. Marine Policy offers:
a) Pure Indemnity
b) Strict Indemnity
c) Adequate Indemnity
d) Modified Form of Indemnity
Q8. Which of the following statements is correct?
a) Insurable interest should exist at the time of effecting marine insurance.
b) Insurable interest needs to exist only at the time of loss.
c) Insurable interest should be present throughout the currency of the policy.
d) None of the above
Q9. Extra charges in cargo claims refer to:
a) Landing Charges
b) Reconditioning Charges
c) Warehousing Charges
d) Survey Fees
Q10. If there is any doubt as to the meaning and effect of the words used, or if there is any ambiguity in the policy, the benefit of doubt is given to:
a) The aggrieved party
b) The insured
c) The insurer
d) All of the above
