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Category: IC70 MARINE HULL INSURANCE UNDERWRITING AND CLAIMS – 08

IC70 MARINE HULL INSURANCE UNDERWRITING AND CLAIMS – 08

Que. 1 : Q1) The first set of comprehensive Hull Clauses, independent of the erstwhile S.G. Form was devised and came into effect in the London market in _________.

   1.  a) October 1962

   2.  b) October 1975

   3.  c) October 1983

   4.  d) October 1999

Que. 2 : Q2) Marine Hull Insurance covers the loss or damage to a ship’s____________

   1.  a) Machinery

   2.  b) Hull

   3.  c) Both of the above

   4.  d) Either of I or II

Que. 3 : Q3) The proposer has a legal duty to disclose all material facts relating to the proposed insurance. If this duty is breached through non-disclosure or misrepresentation of material facts :

   1.  a) An insurer is entitled to charge additional premium

   2.  b) An insurer is entitled to avoid liability under the policy

   3.  c) Both of the above

   4.  d) None of the above

Que. 4 : Q4) As per marine insurance act __________ means charges recoverable under maritime law by a salvor independently of contract.

   1.  a) Average Adjusters

   2.  b) Salvage Charges

   3.  c) Log Book

   4.  d) Indemnity

Que. 5 : Q5) In case any accident occurs, the cause in known as

   1.  a) Risk

   2.  b) Peril

   3.  c) Damage

   4.  d) None of the above

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