ICS04 - Marine Hull (Surveyor) Mock Test 14

Q1. Indian Register of Shipping (IRS) is a ship classification society established in India in __________.

a) April, 1925
b) April, 1945
c) April, 1965
d) April, 1975

Q2. When the assured does not comply with the provisions of the Clause, a penalty applies amounting to 15% of the ascertained claim. This is known as __________.

a) Average Clause
b) Tenders Clause
c) Liability Clause
d) None of these

Q3. Which is a non-profit making organisation, established in 1981 to act as a focal point in the fight against all types of maritime crime and malpractice?

a) The International Union of Marine Insurance
b) International Maritime Bureau
c) The Institute of London Underwriters
d) Joint War Committee

Q4. Cost of replacing __________ consumed either in the repair of damage to a vessel, in working the engines or winches to assist in the repairs of damage, or in moving the vessel to a place of repair within the limits of the port where she is lying, shall be covered.

a) Bottom Treatment
b) Agency Commission
c) Fuel and Stores
d) Gas Freeing

Q5. If clauses are printed in the margin of the policy and such clauses are in conflict with the clauses in the body of the policy:

a) The 'contra proferentem' rule will be followed
b) The clauses in the margin will prevail
c) The one that is beneficial to the aggrieved party should be accepted
d) The clauses in the main body will prevail

Q6. There is a cancellation clause under Marine Hull Clauses drafted by ILU for other markets which permits cancellation by either the insurer or the insured by giving a notice of __________.

a) 12 hours
b) 24 hours
c) 36 hours
d) 48 hours

Q7. Under the perils clause and associated clauses, the cover for total loss of the ship or for repairs to the ship are payable only if proximately caused by:

a) Perils of the seas, rivers, lakes or other navigable waters
b) The perils specified in Clause 6
c) The perils of piracy
d) The perils by fire

Q8. A detailed identification of the subject matter insured is provided by inserting which of the following details?

a) Description of the vessel
b) Contract or yard number
c) Names of the builder and builder yards
d) All of the above

Q9. In case of __________, the insurable value is laid down in Section 18(2) of the Marine Insurance Act, 1963.

a) Valued Policies
b) Unvalued Policies

Q10. Section 1 of Port Package Insurance Policy covers which of the following?

a) Customer Liabilities and Third Party Liabilities
b) Business Interruption
c) Property Damage
d) None of these