Menu Close

Category: IC57 FIRE AND CONSEQUENTIAL LOSS INSURANCE – 13

IC57 FIRE AND CONSEQUENTIAL LOSS INSURANCE – 13

Que. 1 : Q1) Missile Testing Operations carried by a Private R & D Company is covered under Fire Policy

   1.  a) TRUE

   2.  b) FALSE

   3.  

   4.  

Que. 2 : Q2) Which of the following is an ex-gratia payment?

   1.  a) Payment made when risk not covered under policy

   2.  b) Payment made when policy voided

   3.  c) Payment made when policy cancelled

   4.  d) None of the above

Que. 3 : Q3) Regarding Forest Fire (Add On Cover) which of the following is true

   1.  a) Rate of premium is 5%

   2.  b) Maximum rate is 15%

   3.  c) 50% discount is given if the loss experience of 5 years is less than 30%

   4.  d) All are true

Que. 4 : Q4) In a fire floater policy the minimum sum insured at one location should not be less than

   1.  a) 50%

   2.  b) 25%

   3.  c) 10%

   4.  d) None of the above

Que. 5 : Q5) Which of the following is not under standard fire & special perils policy?

   1.  a) Cyclone

   2.  b) Hurricane

   3.  c) Earthquake

   4.  d) Flood