IC11 PRACTICE OF GENERAL INSURANCE EXAM - 02
| Q1.When looking for reinsurance, the underwriter works at two levels - one is at risk level and the other is __. |
| Macro |
| Micro |
| Primary |
| Retention |
| Portfolio |
| Q2.If Mr. Abhay's car collides with another car and the other car's driver gets injured, who will pay for the claims of the other driver? |
| Mr. Abhay will have to pay |
| The other driver if in uninsured |
| Third-party insurance pool |
| Mr. Abhay's insurance company |
| The other drivers' insurance company |
| Q3.Which policy covers damage to the actual structure of the vessel? |
| Marine Hull insurance |
| Marine Cargo insurance |
| Marine Fire insurance |
| All of the above |
| None of the above |
| Q4.In the case of Motor Insurance which document is considered as the only evidence of the existence of valid insurance by police authorities and RTO? |
| Insurance Notice Document |
| Cover Notice |
| Policy Document |
| Certificate of Insurance |
| Any of the above |
| Q 5.Pure Premium is defined as __. |
| Total premium divided by the number of exposure units |
| Total premium divided by the total claims |
| The total amount of claims divided by premium |
| The total amount of claims incurred per year divided by the number of exposure units |
| None of the above |
| Q6.In Motor Insurance, 'Form A' covers __. |
| Act Liability only |
| Act Liability and Own Damage Losses |
| Own damage losses only |
| Third-party losses only |
| Own damage losses and Third-party losses |
| Q7.What is the claim loading applied to a policy known as? |
| Claim Minus |
| Claim Load |
| Claim Malus |
| Claim Fides |
| Claim Bonus |
| Q8.____ cannot be an intermediary. |
| Bank |
| Insurer |
| Agent |
| Insurance Broker |
| All of the above |
| Q9.Which type of fire policy covers stocks at various locations under one sum assured? |
| Common Policy |
| Declaration Policy |
| Long term policy |
| Floating policy |
| Consequential loss policy |
| Q10.In private motor insurance, separate rates apply for vehicles below and above ___. |
| 800 cc |
| 1000 cc |
| 1500 cc |
| 1800 cc |
| 2000 cc |