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Category: IC57 FIRE AND CONSEQUENTIAL LOSS INSURANCE – 20

IC57 FIRE AND CONSEQUENTIAL LOSS INSURANCE – 20

Que. 1 : Q1) Which of the following statements is True? (1) The sum insured under consequential loss (fire) policy should be equal to gross profits of the indemnity period selected. 2 the sum insured should be equal to the net profits of the Indemnity period selected.

   1.  a) Statement 1 is True

   2.  b) Statement 2 is True

   3.  c) Both are true

   4.  d) Both are false

Que. 2 : Q2) For insuring full protection of a factory the declaration of SI should be on the following basis.

   1.  a) Block wise separate amounts on (i) Building (ii) Machinery (iii) Stocks and Stocks in process (iv) Furniture & other contents.

   2.  b) Block wise separate amounts on (i) Building (ii) Machinery (iii) Stocks

   3.  c) Total amount for all above as SI

   4.  d) None of the above.

Que. 3 : Q3) Fire Material Damage Policy does not cover

   1.  a) FURNITURE & FIXTURES

   2.  b) STOCK

   3.  c) STANDING CHARGES

   4.  d) STOCK IN PROCESS

Que. 4 : Q4) Rating under Petrochemical tariff is based on

   1.  a) Material factor of the raw materials and hold up capacity

   2.  b) Pressure and temperature

   3.  c) None of the above

   4.  d) Both 1 & 2 above

Que. 5 : Q5) The essentials of Fire are

   1.  a) Fuel & Oxygen

   2.  b) Fuel & CO2 & Ignition

   3.  c) Fuel, Nitrogen & Spark

   4.  d) Fuel, Oxygen & Source of ignition