ICS05 - Engineering Insurance (Surveyor) Mock Test 13

Q1. ALOP Policy can have number of claims under the policy

a) Any number of claims
b) Single claim
c) Numbers corresponding to numbers of claims under MD policy
d) None of the above

Q2. Regarding refund of premium for early completion of the project under CAR policy which of the following conditions is false:

a) The period of insurance is 18 months and above.
b) Notice for early completion being given in advance to the Insurer before completion of the project.
c) The original policy period exceeding the contract period as per contractual clause.
d) The minimum period for which refund can be claimed is 3 months.

Q3. The cover will be provided only for works actually commenced during the policy period, to be individually declared is on which basis?

a) Turnover basis
b) Individual declaration basis
c)
d)

Q4. In SCE policy

a) There is no condition of average clause
b) There is condition of average clause
c) Condition of average clause is applicable if additional premium is given at the time of acceptance
d) None of the above

Q5. Which one of the following is not operational cover under Engineering Insurance?

a) Boiler Insurance
b) Machinery Breakdown Insurance
c) Storage-cum-Erection Insurance
d) Electronic Equipment Insurance

Q6. Statement 1: CAR policy excludes loss/damage due to faulty design.
Statement 2: EAR policy also excludes loss due to faulty design but shall be limited only to the item affected and shall not exclude loss to other insured items affected. Answer which is correct?

a) Statement 1 is only true
b) Statement 2 is only true
c) Both the statements are true
d) None of the statements are true

Q7. In Engineering Insurance CAR stands for

a) Motor Car
b) Contractors All Risks
c) Company's All Risks
d) Companies All Requirements

Q8. Which insurance should be of interest to everyone who operates machinery, not only the big industrial enterprises using large units or sophisticated production plants but also small/medium undertakings where machinery may have serious financial consequences?

a) Contractor's Plant and Machinery Insurance
b) CAR Insurance
c) Engineering Insurance
d) Machinery Insurance

Q9. Sudden and unforeseen physical damage as defined in the concurrent Machinery/Boiler and Pressure Plant Insurance Policy described in the Schedule resulting in a claim admissible under that policy refers to?

a) Gross profits
b) Accident
c) Net profit
d) Turnover

Q10. In which of the following countries does the term 'Contract Work' refer to open Annual Floater policies for contractors who normally undertake construction work of similar nature in sufficiently large numbers?

a) The US
b) Britain
c) India
d) Europe