ICS04 - Marine Hull (Surveyor) Mock Test 06
These questions cover fundamental concepts of ICS04 – Marine Hull (Surveyor), including ship hull structure, insurable interest, transfer of insurance rights, implied warranties under the Marine Insurance Act, Roll-on/Roll-off vessels, major ports, marine insurance requirements, salvage charges, marine hull de-tariffing, and time-based hull policies. The questions focus on understanding the legal and operational aspects of marine insurance, including seaworthiness, lawful adventure, cargo transportation methods, port legislation, financial protection, maritime salvage, insurance pricing, and policy duration. These concepts are important for understanding Marine Hull Insurance, underwriting, claims, survey procedures, statutory provisions, and examination requirements for Marine Hull Surveyors.
Q1. Generally, the structure/body of a ship is referred to as __________.
a) Machinery
b) Hull
c) Ship Structure
d) None of these
Q2. The purpose of marine insurance is to reimburse and the insured suffers a loss only when he has financial interest in the subject matter of insurance and this interest is called __________.
a) Underwriting
b) Indemnity
c) Interest Rate
d) Insurable Interest
Q3. The consignee has to sign a Letter of Transfer in favour of the insurers. Say whether True or False.
a) True
b) False
Q4. As per Marine Insurance Act 1963, which of the following is not an Implied Warranty?
a) Lawful Adventure
b) Seaworthiness of the Vessel
c) Seaworthiness of the Cargo
d) Lost or Not Lost
Q5. Which one is having facility for shipping lorries, trailers and cars without need for cranes and trailers which travel direct from the shipper's premises in the country of origin?
a) Lighter Abroad Ship
b) Roll-on-Roll-off Vessels
c) Combination Carrier
d) Sundry Hulls - Coastal Vessels
Q6. The 12 major ports are governed by the __________.
a) Major Port Trust Act, 1963
b) Indian Ports Act, 1908
c) Marine Insurance Act, 1963
d) None of these
Q7. Which insurance is needed for safety, business requirements and avoidance of large financial losses in case of contingent events?
a) Fire Insurance
b) Crop Insurance
c) Marine Insurance
d) Life Insurance
Q8. As per Marine Insurance Act __________ means charges recoverable under maritime law by a salvor independently of contract.
a) Average Adjusters
b) Salvage Charges
c) Log Book
d) Indemnity
Q9. Which of the following is an impact of de-tariffing Marine Hull Insurance from April 2005?
a) Insurers are allowed to increase the rates according to logical formula
b) TAC should be consulted in case of doubts related to renewal of insurance
c) TAC should be consulted if premium rates need to be increased
d) Insurers are allowed to decide methods and rates to follow for renewal of insurance
Q10. A hull policy issued on time basis cannot be for a period longer than 12 months, as it is prohibited under __________.
a) The Insurance Act, 1938
b) The Marine Insurance Act, 1963
c) The IRDA Act, 1999
d) The General Insurance Business Nationalisation Act (GIBNA), 1972
