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Category: IC74 LIABILITY INSURANCE – 19

IC74 LIABILITY INSURANCE – 19

Que. 1 : Q1) What shall mean any writ or summons issued against or served upon any Director or Officer for nay Wrongful Act?

   1.  a) Claim

   2.  b) A Wrongful Act

   3.  c) Director or Officer

   4.  d) Discovery period

Que. 2 : Q2) According to the premium rules, in case of cancellation, Which of the following is the period in case of non-payment of premium?

   1.  a) 60 days

   2.  b) 6 days

   3.  c) 10 days

   4.  d) 16 days

Que. 3 : Q3) Which of the following conditions is not required to take a civil actions for negligence?

   1.  a) Existence of duty of care

   2.  b) Breach of duty

   3.  c) Inconsiderate intention

   4.  d) Injury due to breach of duty

Que. 4 : Q4) What refers to, if the plaintiff suffers injury or damages partly due to his own fault and party due to the fault of the defendant, the damages will be reduced according to the blame attaching to the plaintiff?

   1.  a) Act of God or Vis Major

   2.  b) Inevitable accident

   3.  c) Contributory negligence

   4.  d) Emergency

Que. 5 : Q5) An underwriter, while developing the pricing for the company, has to ensure that the___________is within 100% of profitability of each and every protfolio?

   1.  a) Net incurred claims ratio

   2.  b) Net operating income ratio

   3.  c) Net combined operating ratio   

  4.  d) Net operating expenses ratio