Que. 1 : Q1) Replacement Cost is paid for the property by the insurer underwhich policy?
1. a) Declaration Policy
2. b) Reinstatement Value Policy
3. c) Floating Policy
4. d) Consequential Loss Policy
Que. 2 : Q2) On what is the cover of stop loss treaty is based on ?
1. a) Claims ratio
2. b) Sum insured
3. c) Premium
4. d) Loss amount
Que. 3 : Q3) From the given options, the renewal notice is effected by ________.
1. a) payment of penalty
2. b) payment of renewal charges
3. c) payment of premium
4. d) payment of bonus
Que. 4 : Q4) Which of the following is not an exclusion under cattle policy?
1. a) Theft of the animal
2. b) Clandestine sale of the animal
3. c) Transport by air
4. d) Surgical operations
Que. 5 : Q5) Which of the following statements is True? (1) For export / import cargo policies, institute cargo clauses (ICC) are used. (2) For inland transit consignments, local clauses are used.
1. a) Statement 1 is True
2. b) Statement II is true
3. c) Both are true
4. d) Both are false