ICS04 - Marine Hull (Surveyor) Mock Test 15

Q1. Which of the following statements is true?

Statement A: Marine cargo policies are valued policies.
Statement B: Marine Hull policies are valued policies.

a) Both
b) A only
c) Neither
d) B only

Q2. The services of IRS are available for which of the following purposes?

a) Damage survey of ships, offshore structures and related equipment and containers
b) Warranty surveys for marine transportation and installation of offshore structures
c) Design appraisal, inspection and certification of fixed offshore platforms during construction on behalf of underwriters
d) All of the above

Q3. Which form of GA expenditure is provided, provided ship has entered the port or place or has returned to her place or port of loading in consequence of accident, sacrifice or other extraordinary circumstances, which render that necessary for common safety?

a) Extraordinary
b) Port of Refuge Expenses
c) Salvage Paid for Services
d) Common Maritime Adventure

Q4. In calculating the rate of premium to be charged, the H&M risk is divided into two parts. One is rate for risk of total loss. The other is rate for risk of:

a) Average Loss
b) Ex Total Loss
c) Other than Total Loss
d) All of the above

Q5. Which has large hatches, so that bulk cargoes can be loaded and discharged and the hatches require special covers with sealing devices so that the tanks can contain the oil cargo without spillage?

a) General Cargo Vessels
b) Dry Bulk Carriers
c) Liquid Bulk Carriers
d) Combination Carriers

Q6. Marine Insurance Cover works with:

a) Per Sending Limits
b) Per Location Limits
c) Sum Insured Limits
d) All of the above

Q7. Which of the following best describes 'mud'?

a) A Rig
b) Blow-out
c) Well-out-of-control
d) A Heavy Fluid

Q8. Clause 3 of Group E of Institute Time Clauses deals with:

a) Navigation
b) Disbursements Warranty
c) Breach of Warranty
d) Sister Ship

Q9. A __________ on the whole period of construction from the time of keel-laying.

a) Flat Basic Rate
b) Premium Payment
c) Rate Per Month
d) Deductible

Q10. The security document consists of Average Bond to be signed by consignee and GA Guarantee, in lieu of cash deposit, to be signed by:

a) The Cargo Underwriters
b) The Ship Underwriters
c) The Dock Underwriters
d) All of the above