ICS06 - Motor Insurance (Surveyor) Mock Test 02
Motor insurance claim assessment involves understanding policy coverage, add-ons, depreciation, NCB, geographical limits and statutory provisions. Engine Protect may cover hydrostatic lock damage, while NCB is reflected in the policy schedule. Depreciation for IDV depends on vehicle age, and non-electrical accessories are subject to applicable depreciation rates. Motor accident claims require knowledge of future prospects, personal and living expense deductions and compensation calculations. Traceable payment methods such as NEFT or demand drafts are preferred for claimants. De-tariffing provides consumers with wider product choices and competitive premiums. Surveyors should also understand Section 173 of the Motor Vehicles Act concerning appeals from MACT awards.
1. ‘Hydrostatic lock damage’ is covered under:
a) Engine Protect add-on
b) Standard OD
c) TP
d) PA
2. ‘No Claim Bonus’ (NCB) is mentioned in:
a) Policy schedule
b) Cover note
c) Driving licence
d) RC book
3. ‘Geographical area’ of policy is:
a) India
b) World
c) SAARC
d) Asia
4. For a vehicle exceeding 1 year but not exceeding 2 years, depreciation for IDV is:
a) 10%
b) 15%
c) 20%
d) 25%
5. Future prospects for a permanent salaried employee below 40 are:
a) 20%
b) 30%
c) 40%
d) 50%
6. ‘Demand draft’ or ‘NEFT’ to claimant is the preferred mode:
a) Yes, traceable
b) Cash
c) Free
d) RTO
7. De-tariffing benefits to consumers include:
a) Wider product choice, competitive premium
b) Higher premium
c) No change
d) Less coverage
8. ‘Non-electrical accessories’ depreciation is at the rate as per vehicle age table:
a) Yes, same as vehicle
b) No depreciation
c) Always 50%
d) Free
9. Section 173 of the Motor Vehicles Act, 1988 deals with:
a) Appeal from award of MACT to High Court
b) Tribunal
c) Hit-and-run
d) Definitions
10. Personal/living expenses to be deducted for a married person with no children are:
a) 1/3rd
b) 1/4th
c) 1/5th
d) 1/2
