ICS05 - Engineering Insurance (Surveyor) Mock Test 20

Q1. Which of the following is not included in substations?

a) Transformers
b) Boilers
c) Circuit breakers
d) Isolating switches of varying capacities

Q2. Select the expanded form of ALOP used in insurance

a) Advance Loss of Profits Insurance
b) Agreed Loss of Profits Insurance
c) Additional Loss of Profits Insurance
d) Associated Loss of Profits Insurance

Q3. Rusting damage is covered under

a) Marketing Insurance
b) Erection Insurance
c) Boiler and Pressure Plant Insurance
d) None of above

Q4. Risk inspections can be considered an important tool in __________.

a) Identification and measurement of risks
b) Identification and elimination of risks
c) Transfer and elimination of risks
d) Measurement and transfer of risks

Q5. This __________ must be carried out before coming on cover during the loading period which in any event should be before 15th of April each year.

a) Concurrent Machinery Breakdown Insurance Policy
b) Pre-Insurance Inspection
c) Maintenance of Log Book
d) Moral Hazard

Q6. The adjustment of sum insured in EAR policy is not done in respect of

a) Freight and Handling Charges
b) Custom Duties
c) Cost of Erection
d) Increase or decrease in cost of Contractor's Plant and Machinery

Q7. Which of the following maintenance covers can be obtained by the insurer to cover the loss or damage to the contract works solely caused by the insured contractor in the course of operations carried out for the purpose of complying with his obligations?

a) Maintenance Visits Cover
b) Extended Maintenance Cover
c) Operational Maintenance Cover
d) Allowance Maintenance Cover

Q8. Which of the following is not covered under Industrial All Risks Insurance?

a) Fire and special perils as per fire insurance practice
b) Larceny
c) Machinery Breakdown
d) Electronic Equipment

Q9. An IAR Policy can be issued to an Industrial Risk:

a) With sum insured > Rs. 100 crores
b) With sum insured < Rs. 75 crores
c) Housing petrochemical risks
d) All of the above

Q10. Under Deterioration of Stock (Potatoes) in Cold Storage Insurance Policy, __________ of the proposal plays an important role in this class more than any other branch of engineering insurance.

a) Pre-insurance inspection
b) Moral Hazard
c) Underwriting Considerations
d) Claims Control