ICS04 - Marine Hull (Surveyor) Mock Test 10

Q1. Which of the following is the amount recoverable for Sue and Labour expenses?

a) Either the full amount or three-fourth, according to policy conditions
b) The amount as computed in the same way as for GA expenditure
c) The full sum expended, subject to the ship being fully insured
d) None of the above

Q2. Which of the following has two provisions? These are: 1) It provides that the Rules will apply to the exclusion of any law or practice inconsistent therewith and 2) The numbered rules take precedence over the lettered rules; Rule Paramount takes precedence over all other rules.

a) The Rule of Interpretation
b) The Rule Paramount
c) The Lettered Rules
d) Numbered Rules

Q3. Which of the following is covered under a Marine Hull Insurance policy?

a) Damage to the ship's cargo
b) Loss due to war or nuclear risks
c) Physical damage to the vessel caused by collision
d) Damage to personal belongings of passengers
e) Theft of goods from the vessel

Q4. How many major ports are governed by the Major Port Trust Act 1963?

a) 10
b) 11
c) 12
d) 13

Q5. Which branch of insurance is codified by way of an Act in India?

a) Marine Hull
b) Marine Cargo
c) Both (a) and (b)
d) None of (a) and (b)

Q6. What is the main objective behind classification of ships?

a) To control piracy
b) Maintain register of maritime resources
c) Promote safety at sea, for life, for ships and their cargoes and for the environment
d) To regulate marine insurance business

Q7. Statement 1: Insurance companies settle Marine Export claims through settling agents only.

Statement 2: Insurance companies settle Marine Export claims through survey agents and settling agents.

a) Statement 1 is correct
b) Statement 2 is correct
c) Both 1 and 2 are correct
d) Both 1 and 2 are wrong

Q8. For policies less than __________, the installment facility is not available.

a) 12 months
b) 18 months
c) 24 months
d) 36 months

Q9. In case any accident occurs, the cause is known as:

a) Risk
b) Peril
c) Damage
d) None of the above

Q10. 1/4 collision liability is covered by:

a) P&I Club
b) Hull Underwriters
c) Lloyd's
d) Reinsurance