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Category: IC57 FIRE AND CONSEQUENTIAL LOSS INSURANCE – 19

IC57 FIRE AND CONSEQUENTIAL LOSS INSURANCE – 19

Que. 1 : Q1) Reinstatement value policy can be issued for

   1.  a) Stock in process

   2.  b) Building

   3.  c) Stock in go down

   4.  a) Stock in process

Que. 2 : Q2) Minimum SI for floater declaration policy

   1.  a) Rs. 5 Crores

   2.  b) Rs. 10 Crores

   3.  c) Rs. 15 Crores

   4.  d) Rs. 2 Crores

Que. 3 : Q3) Which of the following losses are covered under a fire policy?

   1.  a) Cost of extinguishing the fire

   2.  b) Theft after fire

   3.  c) Loss of market

   4.  d) Loss of delay in executing order

Que. 4 : Q4) Which of the following perils is not covered under standard fire and special perils policy?

   1.  a) Flood

   2.  b) Subsidence

   3.  c) Bush fire

   4.  d) Forest fire

Que. 5 : Q5) The principle of subrogation and principle of contribution are corrolories to which principle of insurance?

   1.  a) Principle of proximate cause

   2.  b) Principle of utmost good faith

   3.  c) Principle of insurable interest

   4.  d) Principle of indemnity