Que. 1 : Q1) Under which of the following circumstances reinstatements basis of settlement will not apply under fire reinstatement value policy
1. a) Insured fails to intimate to the insurer within 6 months or any extended time to replace the damaged property
2. b) Insurer is unable to replace the damaged property
3. c) Insured in unwilling to replace the damaged the property
4. d) All of the above
Que. 2 : Q2) Which of the following does not form a part of Book Price Calculation?
1. a) Claims Costs
2. b) Management Expenses
3. c) Commission
4. d) Investment Income
Que. 3 : Q3) Insurance agent represents the ______________.
1. a) Insurance company
2. b) Sub-agent
3. c) Co-agent
4. d) Broker
Que. 4 : Q4) Which of the following statements is True? (1) Explosion is covered under standard fire and special perils policy. 2 implosions in covered under standard fire and special perils policy.
1. a) Statement 1 is True
2. b) Statement 2 is True
3. c) Both are true
4. d) Both are false
Que. 5 : Q5) Which of the following statement is True? (1) A life insurer may offer life micro-insurance product as well as general micro insurance products. (2) A general insurer may offer general micro-insurance product as also life micro-insurance products.
1. a) Statement 1 is True
2. b) Statement 2 is True
3. c) Both are true
4. d) Both are false
