Que. 1 : Q1) The Institute of London Underwriters was set up in _____ as the trade association for the company market specialising in marine, aviation and transportation insurance business.
1. a) 1864
2. b) 1874
3. c) 1884
4. d) 1894
Que. 2 : Q2) In a Hull policy Freight is to be covered by the ship owner in any of the following manner
1. a) Has to be insured separately
2. b) To be included in the Hullpolicy itself
3. c) Both a & b
4. d) Freight cannot be insured at all
Que. 3 : Q3) A _________ is the borrower in a mortgage – he owes the obligation secured by the mortgage.
1. a) Mortgage
2. b) Mortgagor
3. c) Mortgagee
4. d) None of these
Que. 4 : Q4) Which of the following is an example of Business Interruption policy ?
1. a) Removal of Wreck
2. b) Port Blockage
3. c) Customer Liability
4. d) Handling equipment
Que. 5 : Q5) According to clauses No.13 “Duty of the Assured (Sue and Labour) ” clause of ITC-Hulls (1-10-83) , Which of the following are not recoverable as sue and labour?
1. a) General average, salvage charges, collision defence and attack cost
2. b) General average, salvage charges and collision defence and allied cost
3. c) General average, collision defence and allied costs
4. d) General average, salvage charges and collision defence costs