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Category: IC70 MARINE HULL INSURANCE UNDERWRITING AND CLAIMS – 14

IC70 MARINE HULL INSURANCE UNDERWRITING AND CLAIMS – 14

Que. 1 : Q1) If 2 vessels ‘A’ & ‘B’ are in collision and owner of vessel ‘A’ is 75% to blame and owner of ‘B’ is 25% to blame, then:
i. if damage to ‘A’ is Rs.2,00,000
ii. and damage to ‘B’ is Rs.3,00,000.
Then find the ‘A’ single liability to ‘B’?

   1.  a) Rs.1,00,000

   2.  b) Rs.1,50,000

   3.  c) Rs.1,75,000

   4.  d) Rs.2,50,000

Que. 2 : Q2) Which of the following are essentials Features of General Average?

   1.  a) Extraordinary

   2.  b) Reasonable

   3.  c) Common Maritime Adventure

   4.  d) All of the above

Que. 3 : Q3) In India, the regulatory body auctions, fields for exploration and development and the company/consortium of companies that wins the bid for a particular block is called the ___________ for that particular block.

   1.  a) Agent

   2.  b) Contractor

   3.  c) Operator

   4.  d) Commissioner

Que. 4 : Q4) The ___________rate is a rate percent applied to the Sum Insured of the Vessel and is thus conditioned by the age and insured value factors of the Vessel.

   1.  a) Total Loss

   2.  b) Other than Total Loss

   3.  c) Initial value

   4.  d) Renewal rating

Que. 5 : Q5) Which are strongly constructed and are fitted out to carry bulk liquids and the effect of liquid cargo on the stability of the vessel is considerable?

   1.  a) General cargo vessels

   2.  b) Liquid Bulk Carriers

   3.  c) Dry Bulk carriers

   4.  d) Combination Carriers