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Category: IC56 FIRE INSURANCE CLAIMS – 09

IC56 FIRE INSURANCE CLAIMS – 09

Que. 1 : Q1) In the case of total destruction of a building it would not be appropriate to consider market value or sale value of the building. Say whether True or False.

   1.  a) True

   2.  b) False

   3.  

   4.  

Que. 2 : Q2) The extension provides cover for Architects, Surveyors and Consulting Engineers fees for plans and services in connection with reinstatement of building up to ______ of the adjusted loss, but this does not include any cost of preparation of claim.

   1.  a) 1%

   2.  b) 3%

   3.  c) 5%

   4.  d) 7.5%

Que. 3 : Q3) In Terrorism damage cover, the limit of indemnity under this cover shall not exceed sum insured as defined in the policy or __________ crores at any one location, whichever is lower.

   1.  a) Rs.500 crores

   2.  b) Rs.1000 crores

   3.  c) Rs.1500 crores

   4.  d) Rs.2500 crores

Que. 4 : Q4) If Total sum insured under the policies is Less than the value at the time of loss. Then Calculate Total Loss.

   1.  a) X Pays =RS.1,00,000 , Y Pays = Rs.1,50,000

   2.  b) X Pays =RS.3,00,000 , Y Pays = Rs.1,50,000

   3.  c) X Pays =RS.2,00,000 , Y Pays = Rs.2,50,000

   4.  d) X Pays =RS.2,50,000 , Y Pays = Rs.1,50,000

Que. 5 : Q5) As per condition 1 of a fire insurance policy, the policy shall be voidable in the event of____________in any material particular ?

   1.  a) Misrepresentation

   2.  b) Misdescription

   3.  c) Non-disclosure

   4.  d) Any of the above