ICS04 - Marine Hull (Surveyor) Mock Test 08
These questions cover important concepts from ICS04 – Marine Hull (Surveyor), including freight, exploratory wells, Ship Builders’ Risk Insurance, collision, vessel-related liability insurance, time charter hire, IACS, marine insurance legislation, Protection and Indemnity (P&I) Clubs, and Rules of Practice. The topics examine maritime earnings, offshore drilling, shipbuilding risks, collision liability, secondary insurance covers, charter arrangements, classification societies, Indian marine insurance laws, mutual insurance associations, and General Average procedures. Candidates should understand the distinction between various marine insurance products, vessel operations, legal frameworks, chartering terminology, and classification organizations. These concepts are essential for Marine Hull Surveyor examination preparation.
Q1. The term __________ includes the profit derivable by a ship-owner from the employment of his ship to carry his own goods or movable as well as freight payable by a third party, but does not include passage money.
a) Indemnity
b) Freight
c) Subrogation
d) Contribution
Q2. Which of the following best describes an exploratory well?
a) Well that produce hydrocarbons
b) Wells drilled to maximise production from the reservoir
c) Wells drilled in a field in a new field to search for zones with good hydrocarbon potential
d) All of the above
Q3. Answer with regards to Ship Builders' Risk Insurance. Which among the following statement is false?
a) The insurance covers loss, damage, liability or expenses caused by earthquake or volcanic eruption.
b) The insurance does not cover loss, damage, liability or expenses caused by earthquake or volcanic eruption.
c) Should the insured value so ascertained exceed 125% of the provisional value, the limits of indemnity shall be 125% of the provisional value.
d) An agreed amount as deductible will apply to all claims arising out of each separate accident or occurrence.
Q4. Which of the following is not considered as Collision?
a) Damage caused to the nets of a fishing vessel
b) Damage caused by one vessel and crowding another on the bank when passing in a narrow estuary
c) Both of the above
d) Only II above
Q5. Which of the following type of insurance is secondary to the vessel's actual primary insurance such as Hull and Machinery, Hull Interest, etc.?
a) Ship Repairer's Liability Insurance
b) Insurance of Port Liabilities
c) Charterer's Liability Insurance
d) Mortgagee's Liability Insurance
Q6. Time Charter hire is:
a) To charter a vehicle for a specified period
b) To take a loan on vessel for a specified period
c) To take a vessel on hire for a specified period
d) To hire a vessel and pay after a specified time
Q7. Full Form of IACS:
a) Indian Association of Classify Society
b) International Association of Classification Societies
c) International Administration of Certification Shipping
d) International Association of Certified Shipping
Q8. Which of the following are legislation for marine insurance in India?
a) Railways Act 1989
b) Central Excise Act / Rules
c) Customs Act, 1962
d) All of the above
Q9. Which of the below option best describes P&I Clubs?
a) Public insurance organizations
b) Mutual insurance associations
c) Private insurance organizations
d) Insurance advisors
Q10. The Rules of Practice presently are divided into how many sections?
a) Two
b) Four
c) Six
d) Eight
