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Category: IC60 MARINE CARGO INSURANCE UNDERWRITING – 02

IC60 MARINE CARGO INSURANCE UNDERWRITING – 02

Que. 1 : Q1) How many percentage of premium subsidy is given to Livestock, Forestry and aquaculture By Brazilian Government?

   1.  a) 10%

   2.  b) 20%

   3.  c) 30%

   4.  d) 40%

Que. 2 : Q2) Which of the below statement is incorrect with regards to elephant insurance?

   1.  a) Elephants in the age category 5 years to 60 years only can be insured

   2.  b) Insured elephants are covered against death by fire and / or lightning

   3.  c) A training complete certificate must be obtained from veterinary surgeon within 6 months of issue of policy

   4.  d) The cost of the procedure for identification of the elephant will be borne by the insured

Que. 3 : Q3) ____________subsidy in premium is allowed in respect of small and marginal farmers in case of NAIS.

   1.  a) 40%

   2.  b) 30%

   3.  c) 50%

   4.  d) 80%

Que. 4 : Q4) Which approach seeks to indemnify the farmer to the full extent of the losses and the premium to be paid by him is determined with reference to his own past yield and loss experience?

   1.  a) Homogenous area approach

   2.  b) Individual approach

   3.  c) Experimental approach

   4.  d) Comprehensive approach

Que. 5 : Q5) Which of the following is correct?

   1.  a) Loss cost = Indemnities paid + total sum insured

   2.  b) Loss cost = Indemnities paid – total sum insured

   3.  c) Loss cost = Indemnities paid * total sum insured

   4.  d) Loss cost = Indemnities paid / total sum insured