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Category: IC74 LIABILITY INSURANCE – 16

IC74 LIABILITY INSURANCE – 16

Que. 1 : Q1) Liquor liability policy is designed for manufacturers distributors etc. of alcholic beverages. the policy coverage:

   1.  a) Liability excluded under CGL policy

   2.  b) Liability included under CGl policy

   3.  c) Liability excluded in public liability policy

   4.  d) Liability included in public liability policy

Que. 2 : Q2) Which has been defined as an event due to natural causes directly and exclusively without human intervention?

   1.  a) Act of God or Vis Major

   2.  b) Inevitable accident

   3.  c) Volenti No fit injuria

   4.  d) Contracting out

Que. 3 : Q3) As per Provisions of Section 3 of the Public Liability, Insurance Act, 1991, if a person suffers a permanent Partial Disability, then how much is the maximum amount of relief payable?

   1.  a) Rs.25,000

   2.  b) Rs.50,000

   3.  c) Rs.75,000

   4.  d) Rs.1,00,000

Que. 4 : Q4) How is the law of contract different from the law of tort?

   1.  a) It is actionable in both the civil and criminal courts

   2.  b) It usually involves a connection between two parties only.

   3.  c) Contractors are always written

   4.  d) The action is brought by the injured party in the tort

Que. 5 : Q5) Which treat is a variation of the excess of loss treaty and this treat operates in respect of the annual loss ratio incurred and not in respect of any fixed amount of the underlying retention?

   1.  a) Surplus treaty

   2.  b) Stop loss treaty

   3.  c) Excess of loss treaty

   4.  d) Quota share treaty