IC60 MARINE CARGO INSURANCE UNDERWRITING – 13

Q1.A ____ is issued by a freight forwarder who is authorized to do so.
 

 a) Clean Bill of Lading

 

 b) Claused Bill of Lading

 

 c) House Bill of Lading

 

 d) Master Bill of Lading

 

Q2.Which containers are rectangular steel boxes suitable for any general cargo and do they have various lashing devices on the top and bottom longitudinal rails and the corner posts?
 

 a) General purpose Box containers

 

 b) High Cube General purpose containers

 

 c) Open Top Containers

 

 d) Tank Containers

 

Q3.Section 55 (2) enumerates the losses which are not payable. Which of the following is/are an example of these?
 

 a) Willful misconduct of the assured

 

 b) Delay caused by an insured peril

 

 c) Injury to machinery not proximaterly caused by maritime perils

 

 d) All of the above

 

Q4.Which of the following falls under marine cargo insurance?
 

 a) Export shipments

 

 b) Import shipments

 

 c) Rail / road consignments

 

 d) All of the above

 

Q5.Does that mean that the seller delivers when the goods are placed at the disposal of the buyer on board the ship not cleared for import at the named port of destination?
 

 a) Delivered At Frontier

 

 b) Delivered Ex Ship

 

 c) Delivered Ex Quay

 

 d) Delivered Duty Unpaid

 

Q6.The underwriting result of a vessel or fleet is considerably influenced by which of the following?
 

 a) Material used in the making of the vessel

 

 b) Safety equipment installed in the vessel

 

 c) Deductible imposed

 

 d) All of the above

 

Q7.The first 3 represent the code of the airline and the next 7 digits are the _____.
 

a) Airline

 

 b) Check-digit

 

 c) Actual running number for the consignment

 

 d) None of these

 

Q8.What Kind of Losses are covered by Inland Transit Clauses (Rail or Road) Clause (B)?
 

 a) Loss due to Financial default

 

 b) Insufficiency in Packing

 

 c) Inherent vice

 

 d) Physical loss due to breakage of Bridges

 

Q9. According to the Marine Insurance Act 1963, a contract of marine insurance is valid
 

 a) Only when it is in writing

 

 b) Only when it is verbal

 

c) Only if it fulfills the essentials of a valid contract

 

 d) It can be an oral agreement or a written contract

 

Q10.What is the main objective behind the classification of ships?
 

 a) To control piracy

 

b) Maintain a register of maritime resources

 

c) Promote safety at sea, for life, for ships and their cargoes, and for the environment

 

d) To regulate the marine insurance business

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