Que. 1 : Q1) Which of the following is correct with respect to MLOP? 1. a) Sum insured is the Gross Profit i.e. Net profit plus Standing Charges. 2. b) Sum insured is the Net Profit i.e. Gross profit plus Standing Charges. 3. c) Sum insured is the Gross Profit i.e. Net profit less Standing Charges. 4. d) Sum insured…