Que. 1 : Q1) In the case of total destruction of a building it would not be appropriate to consider market value or sale value of the building. Say whether True or False.
1. a) True
2. b) False
Que. 2 : Q2) The extension provides cover for Architects, Surveyors and Consulting Engineers fees for plans and services in connection with reinstatement of building up to ______ of the adjusted loss, but this does not include any cost of preparation of claim.
1. a) 1%
2. b) 3%
3. c) 5%
4. d) 7.5%
Que. 3 : Q3) In Terrorism damage cover, the limit of indemnity under this cover shall not exceed sum insured as defined in the policy or __________ crores at any one location, whichever is lower.
1. a) Rs.500 crores
2. b) Rs.1000 crores
3. c) Rs.1500 crores
4. d) Rs.2500 crores
Que. 4 : Q4) If Total sum insured under the policies is Less than the value at the time of loss. Then Calculate Total Loss.
1. a) X Pays =RS.1,00,000 , Y Pays = Rs.1,50,000
2. b) X Pays =RS.3,00,000 , Y Pays = Rs.1,50,000
3. c) X Pays =RS.2,00,000 , Y Pays = Rs.2,50,000
4. d) X Pays =RS.2,50,000 , Y Pays = Rs.1,50,000
Que. 5 : Q5) As per condition 1 of a fire insurance policy, the policy shall be voidable in the event of____________in any material particular ?
1. a) Misrepresentation
2. b) Misdescription
3. c) Non-disclosure
4. d) Any of the above