Menu Close

Category: IC60 MARINE CARGO INSURANCE UNDERWRITING – 11

IC60 MARINE CARGO INSURANCE UNDERWRITING – 11

Que. 1 : Q1) Which document in the absence of specific policy helps the bank to authenticate the existence of insurance cover and ralate it to the documentary bill?

   1.  a) Certificate of Incorporation

   2.  b) Certificate of Insurance

   3.  c) Certificate of college

   4.  d) None

Que. 2 : Q2) What is the change made to Risk Clauses of ITC-B as per SRCC 2009?

   1.  a) Damages caused by persons acting from a political motive are now not a part of new SRCC clause

   2.  b) Damages caused by persons acting from an ideological and religious purpose are now not a part of new SRCC clause

   3.  c) Damages caused by persons acting from a political motive are now also a part of new SRCC clause

   4.  d) Damages caused by persons acting from an ideological and religious purpose are now also a part of new SRCC clause

Que. 3 : Q3) Insurable interest has been defined by which section as a legal or financial interest of a party in a subject matter of insurance where he/she will be prejudice with the loss or detention to such subject matter and will gain from the safe arrival of the subject matter?

   1.  a) Section 4 of Marine Insurance Act, 1906

   2.  b) Section 5 of Marine Insurance Act, 1906

   3.  c) Section 6 of Marine Insurance Act, 1906

   4.  d) Section 7 of Marine Insurance Act, 1906

Que. 4 : Q4) In which credits, where a second bank in addition to the buyer’s bank guarantees payment?

   1.  a) Unconfirmed Credits

   2.  b) Confirmed Credits

   3.  c) Revocable Credit

   4.  d) Irrevocable Credit

Que. 5 : Q5) Which type of cargo is likely to be the most preferred choice for marine insurance underwriting?

   1.  a) Containerised

   2.  b) Break Bulk

   3.  c) Bulk

   4.  d) Over Dimensional