ICS05 - Engineering Insurance (Surveyor) Mock Test 03
Engineering Insurance includes testing, commissioning, construction, erection, machinery, and consequential loss covers. Hot testing is associated with functional testing during commissioning. CAR and EAR policies may include escalation provisions and installment premium facilities. Boiler definitions cover closed vessels used for generating steam under pressure. Machinery such as power presses is used for mass production of stamped metal components. Deterioration of Stock and Machinery Loss of Profit (MLOP) policies contain specific limits and time excess provisions. Predictive maintenance uses diagnosis to assess equipment condition and wear, helping avoid unnecessary systematic replacement. Understanding construction risks, erection risks, testing, maintenance, escalation, indemnity periods, and policy conditions is important for ICS05 examination preparation.
Q1. Which testing is also known as functional testing?
a) Hot testing
b) Cold testing
c)
d)
Q2. What is the period within the period of delay for which loss is borne by the insured and it starts along with the indemnity period and is normally stipulated to absorb the effects of delay due to minor events which are inherent to the project?
a) Turnover
b) Basis of indemnity
c) Time Excess
d) None of these
Q3. What has been defined under the Act as any closed vessel exceeding 22.75 litres capacity which is used expressly for generating steam under pressure and includes any mounting or other attached to such vessel which is wholly under pressure when steam?
a) Factory
b) Boiler
c) Mines
d) None of the above
Q4. Which of the following is false regarding escalation provision in CAR policy?
a) Escalation benefit is limited to 50% of the CAR S.I
b) Additional premium for escalation is CAR rate applied on 50% of amount of escalation.
c) Escalation can opted at any time during the policy period but before 6 months from the expiry of the policy.
d) None of the above
Q5. The last premium under EAR/CAR Policy where installment facility has been granted has to be made before
a) THREE MONTHS
b) SIX MONTHS
c) NINE MONTHS
d) EIGHT MONTHS
Q6. Which of the following is used for mass production of a wide variety of small stamped components or profiled metal parts like a car door?
a) Refrigerating and air conditioning plants
b) Power presses
c) Compressors
d) Electrical plant and machinery
Q7. In case of Deterioration of Stock Policy, in one event, the liability of the insurance company will not exceed ____________.
a) 25% of the sum insured under the policy
b) 50% of the sum insured under the policy
c) 75% of the sum insured under the policy
d) 100% of the sum insured under the policy
Q8. Time EXCESS under MLOP Policy is
a) THREE DAYS
b) SEVEN DAYS
c) TEN DAYS
d) 14 DAYS
Q9. Certain systematic replacements and preventive operations can be avoided or delayed if there is a means of diagnosis for assessing the condition of a part and its degree of wear and tear is done through?
a) Predictive maintenance
b) Corrective maintenance
c) Preventive maintenance
d) None of the above
Q10. Complex industrial facilities and power stations, which have to be commissioned and undergo a performance test before take-over by the client?
a) Construction risks
b) Erection risks
c)
d)
