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Category: IC74 LIABILITY INSURANCE – 13

IC74 LIABILITY INSURANCE – 13

Que. 1 : Q1) Who in relation to any goods means a person who sells or distributes any goods for sale and includes the manufacture thereof, and when such goods are sold or distributed in package form, includes the packer thereof?

   1.  a) Manufacturer

   2.  b) Wholesaler

   3.  c) Retailer

   4.  d) Trader

Que. 2 : Q2) Which of the following conditions must be met in order to prove professional negligence?

   1.  a) The service provided where of poor standard

   2.  b) The service provided where overcharged

   3.  c) There was a breach of duty of care

   4.  d) There was a breach of duty of care resulting in loss or damage

Que. 3 : Q3) National Commission has jurisdiction to entertain complaints where value of the goods or services and the compensation claimed should be _____________.

   1.  a) Above Rs.50 lakhs

   2.  b) Above Rs.75 lakhs

   3.  c) Above Rs.90 lakhs

   4.  d) Above Rs.100 lakhs

Que. 4 : Q4) Which of the following condition provides that there shall be no liability under the policy for a claim made after 5 years from the date of accident and this is as per provisions of the Act?

   1.  a) Consent of the insurance company

   2.  b) Turnover of the insured

   3.  c) Contribution

   4.  d) Time barred liability

Que. 5 : Q5) The legal risk is assessed on the basis of factors such as jurisdiction, litigious societies and class actions. Say whether True or False.

   1.  a) True

   2.  b) False

   3.  

   4.