IC66 MARINE INSURANCE CLAIMS – 02

Q1.For the purpose of recovery from carrier or ship under COGSA 1925, carrier or ship is not liable for which of the following?
 

 a) Act of God

 

 b) Fire, unless caused by the actual fault or privity of the carrier

 

 c) arrest or restraint of princes, rulers of people or seizure under legal process

 

 d) All of the above

 

Q2.In 1993, the Government of India set up a Committee under the Chairmanship of former RBI Governor, _____ to propose recommendations for insurance sector reforms.
 

 a) Janaki Ram

 

 b) Jyoti Basu

 

 c) Srikrishna

 

 d) R.N. Malhotra

 

Q3.Any risk management program, in order to be successful, should have how many C’s?
 

 a) Two

 

 b) Four

 

 c) Five

 

 d) Eight

 

Q4.One of the following documents is not necessary for export claims
 

 a) Original policy

 

 b) Bill of lading

 

 c) Bill of entry

 

 d) Invoice

 

Q5.What is not a shipping document
 

 a) Bill of Lading

 

 b) Bill of Entry

 

 c) Mate Receipt

 

 d) Invoice

 

Q6.The marine policies can be transferred by assignment unless expressly it is prohibited
 

 a) they may be assigned either before or after the loss

 

 b) they may be assigned only before the loss

 

c) they cannot be assigned at all

 

 d) none of the above

 

Q7. Which of the following does not form a part of a successful risk management program?
 

 a) Commitment

 

 b) Communication

 

 c) Co-operation

 

 d) Conservation

 

Q8.Average Adjusters, however, are not permitted to waive the deductions where a ship is older than ____.
 

 a) 15 years of age

 

 b) 20 years of age

 

 c) 25 years of age

 

 d) 30 years of age

 

Q9.The maximum percentage of loss payable under the Increased value insurance clause:
 

 a) 100% of Sum Insured

 

 b) 110% of sum Insured

 

 c) 75% of the sum insured

 

 d) 50% of the sum insured.

 

Q10.Which of the following is known as a ‘Floating policy’?
 

 a) Specific policy

 

 b) Open policy

 

 c) Annual policy

 

 d) Package Policy under Duty Exemption Scheme

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