ICS03 - Marine Cargo (Surveyor) Mock Test 18
These questions cover important concepts in Marine Cargo Insurance, Classification Societies, Underwriting, Incoterms, Actuarial Studies, Timber Insurance, IIRM, Seaworthiness and the Marine Insurance Act. Key topics include National Flag Societies, application of knowledge and skill in underwriting, the meaning of DES and CIF, the correct sequence of actuarial risk assessment, timber cover based on stowage, and classification-related responsibilities. The questions also examine IIRM development, the person responsible for ensuring vessel seaworthiness, and principles of insurance dealt with under Sections 1 and 16 of the Marine Insurance Act. These topics are useful for ICS03 Marine Cargo (Surveyor) examination preparation.
Q1. A classification society which is domiciled in the same country as the owner of the vessel in question, which must also operate under the flag of that country, is mentioned as which classification society?
a) Craft Society
b) Vessel Society
c) Lloyd's Society
d) Shipping Classification Society
e) National Flag Society
Q2. Underwriting involves application of which among the following to assess a risk?
a) Experience and Skill
b) Knowledge and Skill
c) Education and Skill
d) Designation and Skill
e) None of the above
Q3. The term DES (Delivery Ex-Ship) is best explained in which of the following options?
a) The seller delivers when the goods are placed at the disposal of the buyer on board the ship, not cleared for import, at the named port of destination. The seller has to bear all the costs and risks involved in bringing the goods to the named port of destination before discharging.
b) The seller delivers when the goods are placed at the disposal of the buyer on the arriving means of transport, not unloaded, cleared for export but not cleared for import at the named point and place at the frontier, but before the customs border of the adjoining country.
c) The seller delivers the goods to the first carrier nominated by him and the buyer pays the cost of carriage necessary to bring the goods to the named destination.
d) The seller delivers when the goods are placed at the disposal of the buyer on the arriving means of transport unloaded, not cleared for export but cleared for import at the named point and place at the frontier, but before the customs border of the adjoining country.
Q4. Which is the correct sequence in which the actuarial study is carried out?
a) d, a, c, b
b) a, b, c, d
c) d, c, b, a
d) b, c, d, a
e) d, c, b, a
Q5. The term CIF is explained in which of the following sentences?
a) The seller delivers when the goods cross the rail.
b) The seller delivers when the goods reach the destination port as mentioned in the term of sale.
c) The seller delivers when the goods are delivered on a door delivery basis.
d) The seller delivers when the goods are placed in the quay.
e) The seller delivers when the goods are placed alongside the vessel.
Q6. As per the Institute Timber Federation Clause, there are two types of cover available based on:
a) Kept in pallet and not kept in pallet
b) Stowed on deck and not stowed on deck
c) Stored in container and not stored in container
d) Stored in packs and not stored in packs
e) Quality of the timber
Q7. Find the odd one out:
a) Appointment of Surveyor
b) Technical and Other Reserves
c) Cost of Procurement of Business
d) The Expense of Management
Q8. IIRM was jointly developed by:
a) IRDA and Insurance Institute of India
b) IRDA and IIISLA
c) IRDA and IIRM
d) IISLA and Insurance Institute of India
e) IRDA and State Government of Andhra Pradesh
Q9. Who among the following ensures the seaworthiness of the vessel?
a) Ship Owner
b) Master of the Vessel
c) Classification Society
d) Chief Engineer of the Vessel
e) Surveyor
Q10. In Sections 1 and 16 of the Marine Insurance Act, which Principle of Insurance is dealt with?
a) Subrogation and Contribution
b) Utmost Good Faith
c) Insurable Interest
d) Principle of Indemnity
e) Proximate Cause
