IC11 PRACTICE OF GENERAL INSURANCE EXAM - 14

Q1.Warehousing facilities and Loading/unloading conditions are things to be looked at in a ___.
 Lift insurance
 Public liability insurance
 Store insurance
 Hull insurance
 Cargo insurance
 
Q2.Which policy is issued to business premises covering stock in trade, goods held in trust or on Commission, and cash in locked safe?
 Bhavishya Arogya policy
 Mediclaim insurance policy
 Liability only policy
 Burglary insurance policy
 Universal health insurance policy
 
Q3.Who issues the Bill of Lading?
 Road transporters
 Shipping companies
 Couriers
 Railways
 Airlines
 
Q4.____ policies provide cover against loss of profits (machinery) insurance/advance loss of Profits?
 Marine insurance
 Fire insurance
 Engineering insurance
 Burglary insurance
 Floating insurance
 
Q5.In the case of fire and marine cargo insurance, the percentage of premium that the insurer is required to provide for as reserves are __.
 25%
 30%
 50%
 75%
 100%
 
Q6.What do 'Reserves' refer to in insurance accounting?
 Estimate for future liabilities
 Funds for future expansions
 Funds available for investments
 Invested funds
 Funds for future dividends
 
Q7.Which policy gives an indemnity to the insured in respect of his/her legal liability to pay compensation to his/ her employees who sustain personal injury by accident?
 Compulsory public liability policy
 Legal liability policy
 Workmen’s compensation policy
 Professional indemnities policy
 Public liability policy
 
Q8.The risk premium is calculated on the basis of __.
 Number of people insured
 Average loss ratio
 Profit ratios
 Number of vehicles insured
The average life of the property
 
Q9.ILU stand s for ____.
 Institute of London universities
 Institute of London underwriters
 Institute of London undertakers
 Institute of London UNICEF
 Institute of London unified
 
Q10.What does the insurer incorporate in order to reduce physical hazards?
 Appropriate rules
 Appropriate agreements
 Appropriate contracts
 Appropriate clauses
 Appropriate certificate

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