Que. 1 : Q1) As per condition 5 of the fire insurance policy, an insurer can terminate the policy with_____________days’ notice.
1. a) 5
2. b) 7
3. c) 10
4. d) 15
Que. 2 : Q2) In State Commission, claim amount payable is ____________.
1. a) Rs.5 lakhs
2. b) Rs.10 lakhs
3. c) More than Rs.5 lakhs but less than Rs.20 lakhs
4. d) Exceeds Rs.20 lakhs
Que. 3 : Q3) Onus of proof is otherwise known as
1. a) Wording of proof
2. b) Burden of proof
3. c) Terms of proof
4. d) Evidence of proof
Que. 4 : Q4) Under the principle of Contribution, Calculate the Claim payable by each Policy of Total Claim admissable?
1. a) X =Rs.1,000 , Y = Rs.5,000, Total = Rs.6,000
2. b) X =Rs.2,000 , Y = Rs.4,000, Total = Rs.6,000
3. c) X =Rs.4,000 , Y = Rs.2,000, Total = Rs.6,000
4. d) X =Rs.3,000 , Y = Rs.3,000, Total = Rs.6,000
Que. 5 : Q5) What is the minimum amount as defined in the policy which is deducted from each and every claim?
1. a) Loss or damage
3. c) Exclusions
2. b) Destruction
4. d) Excess