ICS07 - Miscellaneous Insurance (Surveyor) Mock Test 10

1. In case of scheme animals, the policy is issued as an agreed value policy and claims are settled for:

A) 75% of sum insured
B) 65% of sum insured
C) 90% of sum insured
D) 80% of sum insured
E) 100% of sum insured

2. In the case of __________, acceptance is only considered in the case of large warehouses and stores where the value of stock is considerable and where the stocks involved are of a substantial and bulky nature, rendering total loss a remote possibility.

A) Indemnity policies
B) Declaration policies
C) First Loss policies
D) Floating policies
E) Full Value policies

3. A trademark may be similar or identical to other trademarks regulated for similar goods or services. Discuss this with respect to registration of a trademark.

A) Yes, this statement is true
B) No, this is a false statement
C) This statement is true as long as the colours of the trademark are completely different from one already registered
D) This statement is true as long as the slogan used for the trademark is completely different from one already registered
E) This statement is true as long as the colours and slogan used for the trademark are completely different from one already registered

4. Nowadays, the __________ is the most common form of treaty reinsurance.

A) Quota share treaty method
B) Pool basis of reinsurance
C) Surplus basis reinsurance
D) Stop loss reinsurance
E) Excess of loss reinsurance

5. Identify the statement(s) which are true for Commercial Guarantees.

1. Commercial Guarantees have to be stamped in accordance with the stamp duty prescribed for deeds and documents, under seal.
2. Commercial guarantees are normal annual contracts which the insurers may renew at their option.
3. The commercial guarantee is subject to conditions, the breach of which may render the policy void or voidable.

A) Only 1
B) Only 3
C) 1 and 2
D) 2 and 3
E) All 1, 2 and 3

6. Which of these statements best describes 'HOUSEBREAKING'?

A) Where five or more persons conjointly commit or attempt to commit a robbery or are present and aid such commission or attempt, every one of them is said to commit housebreaking

B) A person who commits house trespass if he effects his entrance into the house, or if, being in the house for the purpose of committing an offence, or having committed an offence therein, he quits the house, such entrance or exit being made in the six ways as described in the Penal Code, is said to commit housebreaking

C) Theft of property from the premises described in the schedule of policy following upon felonious entry of the said premises by violent and forcible means is known as housebreaking

D) Whoever intending to take dishonestly any movable property out of the possession of any person without the consent of that person or any person having for that purpose authority, moves that property in order to such taking is said to commit housebreaking

E) If in order to the commission of or in committing the theft or in carrying away property obtained by theft, the offender, for that end, voluntarily causes to any person death or hurt is said to commit housebreaking

7. The coverage under the Plate Glass Insurance policy applies:

1. Even if any alterations are carried on to the premises
2. Only so long as the glass is fixed
3. Even if there is a change in the tenancy of the premises containing the glass insured

A) Only 1
B) Only 2
C) Only 3
D) 1 and 3
E) All 1, 2 and 3

8. What is the primary focus of Personal Accident Insurance?

A) Providing regular medical check-ups
B) Covering damage to personal property
C) Compensating for loss of income due to illness
D) Offering fixed compensation for accidental death or disablement
E) Offering coverage for natural disasters

9. How is the premium calculated for students going abroad for higher studies?

A) Premium is fixed for all age groups
B) Premium is calculated based on the destination country
C) Premium is calculated only based on the age group
D) Premium is calculated based on the age group and the type of plan
E) Premium is calculated based on the student's academic performance

10. What is the primary purpose of the policy covered in the provided information?

A) To insure horse racing events
B) To provide coverage for horse-related accidents
C) To indemnify horse owners for the value of their horses
D) To offer liability coverage for veterinarians
E) To cover damage caused by horse activities