Menu Close

Category: IC77 ENGINEERING INSURANCE EXAM – 23

IC77 ENGINEERING INSURANCE EXAM – 23

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 is the Net Profit i.e. Gross profit less net profit

Que. 2 : Q2) Risks cover under Industrial All Risk Policy are

   1.  a) Standard Fire and Special Perils & Fire Loss of Profit

   2.  b) Machinery Breakdown /Boiler Explosion/Electronic equipments/ contractor plants and machinery & /or Machinery Loss of Profit

   3.  c) Theft &  Burglary

   4.  d) All ( a) ,(b) , & (c ) are correct

Que. 3 : Q3) Where the ceding company is bound to cede and the reinsurer is bound to accept a fixed percentage of each and every risk irrespective of the sum insured but subject to a certain limit?

   1.  a) Surplus treaty

   2.  b) Quota share Treaty

   3.  c) Excess of loss reinsurance

   4.  d) None of the above

Que. 4 : Q4) Which policy is pre-requisite for issuing Deterioration Of Stocks policy

   1.  a) MB

   2.  b) BPP

   3.  c) EEI

   4.  d) CECR