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Category: IC57 FIRE AND CONSEQUENTIAL LOSS INSURANCE – 02

IC57 FIRE AND CONSEQUENTIAL LOSS INSURANCE – 02

Que. 1 : Q1) Long term Fire policy can be issued for dwellings

   1.  a) For minimum period of 2 years

   2.  b) For minimum period of 3 years

   3.  c) For minimum period of 5 years

   4.  d) None of the above

Que. 2 : Q2) STFI peril can be deleted from Standard Fire Policy.

   1.  a) At inception only

   2.  b) After 3 months from the issuance of policy

   3.  c) Can be deleted any time during the currency of policy

   4.  d) Cannot be deleted at all

Que. 3 : Q3) The material damage proviso under FLOP policy states that

   1.  a) Loss under LOP is admitted only after there is a loss under the fire material damage policy

   2.  b) The loss or profit policy is independent from the fire materia damage policy

   3.  c) The loss under Fire and LOP policies cannot exceed the S.I. under fire policy

   4.  d) None of the above

Que. 4 : Q4) In an LOP policy, Auditor fees is

   1.  a) an extension

   2.  b) a built-in cover

   3.  c) a part of Standing charges

   4.  d) not to be covered

Que. 5 : Q5) Maximum Coverage for terrorism risk at one location/ 0ne compound under terrorism pool is

   1.  a) 500 crs

   2.  b) Rs.750 crs

   3.  c) Rs.1000 crs

   4.  d) Rs.1500 crs