Que. 1 : Q1) A fire policy covers assets like printers, machines etc. The policy did not have a Reinstatement Value Clause. In the event of loss, will the claim he paid or not and if yes, how ?
1. a) No, the claim will not be paid
2. b) Yes, it will be paid on market value basis
3. c) Yes, it will be paid on Reinstatement Value basis
4. d) Yes, it will be paid on market value basis or Reinstatement Value basis which ever is higher
Que. 2 : Q2) Which policy provides cover for plant and machinery while being erected and tested ?
1. a) Pre Launch insurance
2. b) Erection insurance
3. c) Loss of profit insurance
4. d) Fire insurance
Que. 3 : Q3) Who is exempt from the IRDA prescribed compulsory training for various intermediaries ?
1. a) Surveyors
2. b) TPA’s
3. c) Brokers
4. d) Corporate agents
Que. 4 : Q4) Which of the following does not attract additional premium under motor policies?
1. a) CNG/LPG fuel kit
2. b) Anti-theft devices
3. c) Fibre glass fuel tanks
4. d) Electronic items fitted to the vehicle but not included in manufacturers price
Que. 5 : Q5) In which currency should the settlement of claims under non-marine insurance made in ?
1. a) Indian Rupees
2. b) Swiss Francs
3. c) US Dollars
4. d) Euro’s