ICS04 - Marine Hull (Surveyor) Mock Test 03
These questions cover key concepts from ICS04 – Marine Hull (Surveyor), including Builders’ Risk Insurance, deductibles, scuttling, franchise clauses, War and Strikes Risk Insurance, marine open covers, marine certificates, vessel tonnage, Constructive Total Loss, concurrent causes, and the International Underwriting Association of London. The topics focus on marine hull policy structures, coverage, exclusions, claims, abandonment, vessel measurement, and insurance documentation. Candidates should understand the distinction between various types of marine insurance covers, policy clauses, causes of loss, and regulatory or market arrangements. These concepts are important for Marine Hull Surveyor examination preparation and practical understanding of marine insurance claims.
Q1. What is the nature of cover by the Builders' Risk Insurance clauses?
a) Named peril cover
b) All risk cover
c) Partial loss cover
d) Faulty welds cover
Q2. The __________ is for an agreed amount in respect of the aggregate of all claims arising out of each separate accident or occurrence, including claims under Collision Liability, Protection and Indemnity, General Average and Salvage and Sue and Labor.
a) Cancellation
b) Deductible
c) Exclusions
d) None of these
Q3. Deliberate sinking of vessels to claim under Hull Insurance is known as:
a) Scuttling
b) Abandonment
c) Barratry
d) General Average loss
Q4. Franchise Clause appears in which of the following?
a) Time
b) Voyage Freight Clauses
c) Both a and b
d) None of the above
Q5. Which among the following statement is not true with regards to War and Strikes Risk Insurance scheme?
a) The scheme was introduced in the year 1976, by the Government of India
b) The scheme applies to mechanized sailing vessels
c) The scheme is applicable to all ships registered under Part V of the Marine Insurance Act, 1963
d) The scheme is on a voluntary basis and the choice of participating in the scheme is left to individual ship-owners
Q6. After issuance of Marine Open Cover which document gives the particulars of insurance for individual voyages?
a) Marine Certificate
b) Marine Policy
c) Cover Note
d) Any of the above
Q7. What is the gross tonnage less certain spaces and is intended to encompass only those spaces used for carriage of cargo?
a) Gross Tonnage
b) Deadweight Tonnage
c) Net Tonnage
d) None of these
Q8. In marine insurance an insured may abandon the subject matter to the insurers and claim a Constructive Total Loss. Say whether True or False.
a) True
b) False
Q9. When more than one cause operates simultaneously and results into loss, they are called __________.
a) General Average
b) Proximate Cause
c) Partial Average
d) Concurrent Causes
Q10. The International Underwriting Association of London was formed on __________, through the merger of the London International Insurance and Reinsurance Market Association and the Institute of London Underwriters.
a) 31 December 1978
b) 31 December 1988
c) 31 December 1998
d) 31 December 2005
