ICS06 - Motor Insurance (Surveyor) Mock Test 07
Motor insurance claim assessment requires knowledge of total loss, constructive total loss, IDV, policy conditions and statutory provisions. Total loss assessment generally applies when a vehicle cannot reasonably be repaired or repair costs exceed the prescribed percentage of IDV. The registered owner is generally considered the vehicle owner, subject to applicable legal interests such as hypothecation. Claims should be notified and submitted within the period and manner specified by the policy. Third-party coverage may continue in certain circumstances after the insured’s death. Surveyors must understand claim forms, Detailed Accident Reports, compensation limitation provisions and motor insurance detariffing. Accurate documentation supports fair and efficient claim settlement.
1. Total Loss assessment is when:
a) Repair not feasible / repair cost > 75% of IDV (CTL)
b) Repair < 25% IDV
c) Premium-free
d) Salvage-free
2. ‘Owner of vehicle’ includes:
a) Registered owner unless transfer effected; HP financier in some cases
b) Driver
c) Insured passenger
d) Police
3. Claim time-limit for filing under a standard policy is:
a) Reasonably as per policy (typically 30 days)
b) 1 year
c) 10 years
d) No limit
4. After death of the insured owner, TP cover:
a) Continues till expiry, claims against legal heirs subject to insurer's defence
b) Lapses immediately
c) Refunded
d) Cancelled
5. Limit of liability for property damage under a motor policy for private cars is:
a) Rs. 1,000
b) Rs. 7,500
c) Rs. 1 lakh
d) Unlimited
6. ‘IDV’ is the:
a) Sum insured fixed at policy inception
b) Cost of repair
c) TP limit
d) PA cover
7. Claim form, once submitted, becomes the basis of:
a) Investigation and settlement
b) Premium calculation
c) RTO record
d) Permit
8. Detailed Accident Report (DAR) by police helps in:
a) Speedy claim disposal
b) Premium increase
c) RTO record
d) Free
9. Under MV Amendment Act 2019, limitation for claim under Section 166 is:
a) 6 months from date of accident
b) 1 year
c) 3 years
d) No limitation
10. Motor insurance was de-tariffed (OD portion) on:
a) 1 January 2007
b) 1 April 2007
c) 1 January 2008
d) 1 April 2008
