IC57 FIRE AND CONSEQUENTIAL LOSS INSURANCE - 12
Que. 1 : Q1) In the event of a claim under FIRE POLICY
1. a) SUM INSURED IS AUTOMATICALLY REINSTATED UNLESS THE INSURED GIVES IN WRITING AT THE TIME OF LOSS FOR NON REINSTATEMENT OF THE SUM INSURED
2. b) SUM INSURED IS AUTOMATICALLY REINSTATED EVEN IF THE INSURED GIVES IN WRITING AT THE TIME OF THE LOSS FOR NON REINSTATEMENT OF THE SUM INSURED
3. c) SUM INSURED IS NOT REDUCED AT ALL
4. d) NONE OF THE ABOVE
Que. 2 : Q2) Local Authorities Clause under Fire Policy is applicable under
1. a) Declaration policy
2. b) Standard Fire Policy
3. c) Reinstatement value Policy
4. d) Floater Declaration Policy
Que. 3 : Q3) In Fire declaration Policy, the premium is refunded
1. a) On the basis of calculation of premium or declared value
2. b) Refund of premium shall not exceed 50% of Total premium
3. c) There is no scope of refund of premium
4. d) Refund of premium is made if there is no claim
Que. 4 : Q4) The insurance does not cease to attach if:
1. a) Trade or manufacturing activity is changed
2. b) Insurance interest changes by will
3. c) Remains un-occupied for more than 30 days
4. d) All of the above
Que. 5 : Q5) FEA discount can be granted by one of the following methods. Choose the correct one
1. a) Mere installation of FEA
2. b) Inspection of company engineers/accredited engineers/ agencies by IRDA
3. c) Insurer can grant at their wishes
4. d) None of the above