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Category: IC60 MARINE CARGO INSURANCE UNDERWRITING – 04

IC60 MARINE CARGO INSURANCE UNDERWRITING – 04

Que. 1 : Q1)Under ICCA the following risk are covered

   1.  a) Fire

   2.  b) Collision

   3.  c) Rain Water

   4.  d) All the above

Que. 2 : Q2)Institute replacement clause relates to

   1.  a) Cotton

   2.  b) Sugar

   3.  c) Rice

   4.  d) Machinery

Que. 3 : Q3)The security document consist of average bond to be signed by consignee and GA guarantee, in lieu of cash deposit, to be signed by:

   1.  a) The cargo underwriters

   2.  b) The ship underwriters

   3.  c) The dock underwriters

   4.  d) All of the above

Que. 4 : Q4)Which of the following are advantages of an open policy from the insured’s standpoint?

   1.  a) All transits are held covered as long as there is adequate premium balance under the open policy

   2.  b) No necessity of running to the insurance company, every time a dispatch is to be made

   3.  c) Given the larger volumes,negotiation of better terms with insurers possible.

   4.  d) All of the above

Que. 5 : Q5) When IRDA was set up as an autonomous statutory body to regulate and develop the Indian Insurance Industry?

   1.  a) April 1991

   2.  b) April 1994

   3.  c) April 2000

   4.  d) April 2005