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Category: IC60 MARINE CARGO INSURANCE UNDERWRITING – 07

IC60 MARINE CARGO INSURANCE UNDERWRITING – 07

Que. 1 : Q1) In which case, the collecting bank presents a bill of exchange to the buyer for acceptance and the accepted bill of exchange along with the title documents remain with the bank?

   1.  a) D/P(Documents Against Payment)

   2.  b) Acceptance of Documents Against Payment

   3.  c) D/A(Document Against Acceptance)

   4.  d) None of these

Que. 2 : Q2) Proof of shipment is evidenced by

   1.  a) Bill of Lading

   2.  b) Bill of Exchange

   3.  c) Bill of Treasury

   4.  d) None of the above

Que. 3 : Q3) As per section 6 of MIA, 1906; when is the assured required to have insurable interest ?

   1.  a) At the time of conclusion of contract

   2.  b) At the time of loss

   3.  c) At the time of loss as well as at the time of conclusion of contract

   4.  d) Neither at the time of loss nor at the time of conclusion of contract

Que. 4 : Q4) The Insurance Institute of India is a professional body providing insurance education and training was formed in which year?

   1.  a) 1955

   2.  b) 1965

   3.  c) 1975

   4.  d) 1985

Que. 5 : Q5) Which of the following is true about moral hazard ?

   1.  a) If moral hazard is indicated, a proposal may or may not be declined

   2.  b) A moral hazard cannot be rated

   3.  c) A moral hazard should be carefully considered after a supposed casualty

   4.  d) None of the above