Que. 1 : Q1) Which fire is more limited and localised than forest fire and refers to, for example accidental burning of vegetation, grass etc., in and around the insured premises?
1. a) Fire
2. b) Standard fire
3. c) Bush fire
4. d) None of these
Que. 2 : Q2) What are those made as an act of grace, that is, where the loss is outside the scope of the policy or the liability under the policy, in strict legal terms, is doubtful because it is a borderline case?
1. a) Warranty
2. b) Ex-gratia payments
3. c) Representation
4. d) Considerations
Que. 3 : Q3) Which of the following is correct?
1. a) A loss is not payable if it is caused by an insured peril and payable if it is caused by an excluded peril or an uninsured peril.
2. b) A loss is payable if it is caused by an insured peril and not payable if it is caused by an excluded peril or an uninsured peril.
3. c) A loss is not payable if it is caused by an insured peril and not payable if it is caused by an excluded peril or an uninsured peril.
4. d) A loss is payable if it is caused by an insured peril and payable if it is caused by an excluded peril or an uninsured peril.
Que. 4 : Q4) Based on the information given, find the amount payable by Policy A and Policy B?
1. a) A= Rs.1,500 , B = Rs.3,500
2. b) A= Rs.1,828.57 , B = Rs.3,171.43
3. c) A= Rs.1,428.57 , B = Rs.3,571.43
4. d) A= Rs.2,500 , B = Rs.2,500
Que. 5 : Q5) Which is required to be submitted by the insurer detailing his stand on the complaint and will also state the policy particulars, premium payment history and insurer’s decision based on evidences?
1. a) Agreement
2. b) Consideration
3. c) Self Contained Note
4. d) Application form
