ICS07 - Miscellaneous Insurance (Surveyor) Mock Test 18
This set covers important Miscellaneous Insurance (Surveyor) concepts, including Honey Bee, Pedal Cycle, Bankers Indemnity, Plate Glass, Health, Overseas Travel, Education Contingency, and Reinsurance. Key areas include policy coverage, exclusions, claim settlement, retention limits, medical expenses, TPA functions, money definitions, and survey requirements. Questions also examine accidental damage, burglary and theft, repatriation expenses, education protection, and administration of estates. These MCQs are useful for understanding policy-specific provisions, insured risks, extensions, and claim procedures. They also reinforce practical insurance concepts that surveyors may encounter while assessing risks, verifying claims, and interpreting policy conditions and coverage.
1. What type of insurance covers hives and/or bee colonies belonging to a cooperative society against accidental loss or damage?
a) Silkworm insurance
b) Honey Bee insurance
c) Lift Irrigation insurance
d) Animal Driven Cart insurance
2. What is the overall limit for medical, accident, and sickness expenses in India if the insured person is evacuated back to India (Sub-section B)?
A) US $ 5,000
B) US $ 25,000
C) US $ 50,000
D) US $ 75,000
E) US $ 100,000
3. What is the term used to describe the maximum amount of risk that an insurer retains on their books for a specific risk?
a) Retention limit
b) Premium threshold
c) Reinsurance cap
d) Policy limit
4. What is the maximum total amount insurers will pay for repatriation and alternative expenses in the event of the death of an insured person (Sub-section C)?
A) US $ 5,000
B) US $ 6,000
C) US $ 7,000
D) US $ 8,000
E) US $ 10,000
5. What events are covered under the policy for loss or damage to the pedal cycle?
a) Fire, lightning, and explosion
b) Burglary, housebreaking, and theft
c) Accidental external means
d) All of the above
e) None of the above
6. Who are Third Party Administrators?
- They are independent entities who are appointed for processing and finalising health claims.
- They are licensed and regulated by IRDA and mandated to provide health services.
- They are appointed for a fee or remuneration by an insurance company for the provision of health insurance.
a) Only 1
b) Only 3
c) 1 and 2
d) 2 and 3
e) All 1, 2 and 3
7. “Money” as used in the Bankers Indemnity Insurance Policy is deemed to mean:
- Stamp papers
- Ornaments pledged with the insured
- Postage and revenue stamps
a) Only 3
b) 1 and 2
c) 2 and 3
d) 1 and 3
e) All 1, 2 and 3
8. Which of these statements is/are TRUE with regard to Plate Glass Insurance?
- The coverage under the policy applies only so long as the glass is fixed.
- In the case of minor breakage, the loss would be settled on the basis of the claim form.
- In the case of heavy breakage involving a substantial amount of loss, an independent survey would be arranged.
a) Only 1
b) Only 2
c) 1 and 2
d) 1 and 3
e) All 1, 2 and 3
9. Which policy is designed to cover the education expenses of the insured student, if the providing parent or guardian is involved in an accident, which results in his death or permanent total disablement?
- Education Contingency Insurance Policy
- Public Liability Insurance
- Personal Accident (with Education Extension)
a) Only 1
b) Only 3
c) 1 and 2
d) 1 and 3
e) All 1, 2 and 3
10. A receiver may also be appointed to administer the estate of:
- Persons who have filed insolvency petition before the court or are declared insolvent by the courts
- Minor who is placed under the Court of Wards till he attains majority
- Person who is pronounced mentally incapable
a) Only 1
b) Only 3
c) 1 and 3
d) 2 and 3
e) All 1, 2 and 3
