IC11 PRACTICE OF GENERAL INSURANCE EXAM – 12

Q1.When a Cover Note is issued, it is ____.
 valid for 30 days
 permanent
 temporary
 contractual
 specific

 

Q2.What is not a peril but still covered under the Institute Cargo Clauses -ICC ( C ) clauses for sea voyage?
 Grounding
 Capsizing
 Explosion
 Sinking
 Stranding

 

Q3.Where is the ‘prohibition of rebates’ mentioned?
 Claim form
 Endorsement
 Renewal notice
 Proposal form
 Policy form

 

Q4.What does Commercial Pricing in a hard market refer to?
 Increasing the premium above book rates
 Decreasing the premium below book rates
 Special premium rates
 Below market deductibles
 Free add on covers

 

Q5.The cover of stop-loss treaty based on __.
 Underwriters assessment
 Sum insured
 Loss amount
 Claims ratio
 Size of loss

 

Q6.Underwriting returns are required by __.
 Regional Office
 General Office
 General administrative & department
 Post Office
 Head Office

 

Q7.Workmen’s compensation act provides insurance for which of the following liabilities?
 Loss due to floods or fire
Liabilities in respect of railways as a carrier of goods
Payment by employers to their employees compensation for injury by accident in course of employment
 Payment of compensation to employees for injury by accident in course of employment
Loss, mis-delivery, or damage of any postal article

 

Q8.Personal health insurance, home insurance, etc are examples of __.
 Wholesale insurance
 Retail insurance
 Hull insurance
 Corporate insurance
 Property insurance

 

Q9.Whose position would be adversely affected by the undue delay in notification?
 Surveyor’s
 Client’s
 Agent’s
 Insurer’s
 Underwriter’s

 

Q10.What are the maximum reimbursement expenses for a damaged motorcycle’s towing charges?
 Rs 100
 Rs 300
 Rs 500
 Rs 750
 Rs 1000

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