ICS07 - Miscellaneous Insurance (Surveyor) Mock Test 14

1. Which of the following changes needs to be notified to the insurer in case of Personal Accident Policies?

A) Changes in marital status
B) Changes in salary
C) Change in occupation
D) Change in dependents
E) All of the above

2. Which choice of law governs the validity, construction, interpretation, and effect of the insurance policy?

A) Laws of the insured person's home country
B) Laws of the country where the claim arises
C) Laws of the country where the insurer is headquartered
D) Laws of India
E) Laws of the country of travel

3. What is the role of the G.I.C. and its subsidiaries in the administration of the Personal Accident Social Security Scheme?

A) They directly pay compensation to beneficiaries
B) They provide medical treatment to accident victims
C) They monitor and review the operation of the scheme annually
D) They collect premiums from policyholders

4. How does the policy consider losses sustained prior to the inception of the original policy?

A) Such losses are covered without any limitations
B) Such losses are covered if discovered within the retroactive period
C) Such losses are never covered under the policy
D) Such losses are covered if discovered within the current policy period
E) Such losses are covered only if they were discovered after the policy inception

5. In Stop Loss Reinsurance, what is the main objective of the arrangement?

A) To completely eliminate the ceding company's risk exposure
B) To restrict the ceding company's net loss ratio to a predetermined level
C) To maximize the profits of the ceding company
D) To minimize the reinsurer's involvement in claims settlement
E) To transfer all risks to the reinsurer

6. What is the purpose of the policy described in the introduction?

A) Providing coverage to Indian citizens working in manual labor jobs abroad
B) Offering coverage to Indian citizens traveling for leisure purposes
C) Providing coverage to Indian citizens traveling abroad for non-manual work or studies
D) Offering coverage to Indian citizens traveling to the U.S.A. and Canada
E) Providing coverage to Indian citizens irrespective of age and occupation abroad

7. What are the specified contingencies covered by the Personal Accident Policy?

A) Loss of personal property
B) Damage caused by natural disasters
C) Death, disablement, medical expenses resulting from accident
D) Travel-related expenses
E) Temporary illnesses

8. In the case of claims for a Jewellers Block Insurance Policy, when must the insured furnish full details of the loss to the insurers?

A) Within 14 days of the event coming to his knowledge
B) Within 14 days of the event occurring
C) Within 1 week of the event coming to his knowledge
D) Within 1 week of the event occurring
E) Within 30 days of the event occurring

9. What is the similarity between the coverage offered by new entrants and the overseas health coverage mentioned in the statement?

A) They have the same nomenclature
B) The policy wordings are identical
C) Basic coverage and extensions are the same
D) New entrants offer lower coverage
E) New entrants offer additional benefits

10. Which centrally sponsored scheme aims to assist families below the poverty line in rural areas to achieve self-employment ventures and cross the poverty line?

A) Agriculture Development Scheme
B) Rural Empowerment Initiative
C) Integrated Rural Development Program (IRDP)
D) Urban Infrastructure Scheme