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Category: IC60 MARINE CARGO INSURANCE UNDERWRITING – 08

IC60 MARINE CARGO INSURANCE UNDERWRITING – 08

Que. 1 : Q1) To whom marine policy cannot be issued

   1.  a) Purchaser of goods

   2.  b) Seller of the goods

   3.  c) Transporter of goods

   4.  d) Bankers having financial interest

Que. 2 : Q2) Shut out Cargo means a cargo which is

   1.  a) Not loaded onto the ship due to late arrival

   2.  b) Thrown out of the ship

   3.  c) Shut in the bonded warehouse

   4.  d) Rejected by the buyer

Que. 3 : Q3) Which of the following are general exclusions under ICC-A,B and C Clauses?

   1.  a) Loss, damage or expense attributable to willful misconduct of the Assured

   2.  b) Ordinary leakage, ordinary loss in weight or volume or ordinary wear and tear of the subject-matter insured

   3.  c) Loss, damage or expense proximately caused by delay even though the delay is caused by a risk insured against

   4.  d) All of the above

Que. 4 : Q4) ____________ is cause which triggers a chain of events which resulted in a loss or damage to the subject matter or any other monetary loss to assured like loss or freight; salvage or general average contribution, liabilities to third parties or sure and labour charges.

   1.  a) Goods cause

   2.  b) Proximate cause

   3.  c) Unvalued cause

   4.  d) None of these

Que. 5 : Q5) PPI in marine cargo policy means

   1.  a) Pre & Post Inspections

   2.  b) Policy Proof of Interest

   3.  c) Post parcel Identification

   4.  d) None of the above