Que. 1 : Q1) The standard erection all risk insurance policies does not cover:
1. a) Fire risk
2. b) Negligence
3. c) Storm caused damages
4. d) Removal of debris
Que. 2 : Q2) Facility of installment premium is available for project policies if the project periods exceeds
1. a) 12 months
2. b) 15 months
3. c) 18 months
4. d) 24 months
Que. 3 : Q3) In the Eastern part of the country a Syndicate of five Companies viz. the London and Lancashire, the ‘Concord’, ‘ Atlas’, ‘Yorkshire’, and ‘British India General’ was formed in the year ___________ with a view to pool their resources.
1. a) 1954
2. b) 1964
3. c) 1974
4. d) 1984
Que. 4 : Q4) Which of the following is not true regarding CPM policy:
1. a) Maximum limit of Third Party Liability during the policy period is Rs10Lacs.
2. b) Additional Custom Duty is covered on first loss basis.
3. c) Pay loaders on barges can be covered under CPM policy.
4. d) All are not true.
Que. 5 : Q5) In MI policy, Sum Insured represents
1. a) Current market value
2. b) New Replacement value
3. c) Current market value including transportation cost to site, customs dues and all installation costs.
4. d) New Replacement value including transportation cost to site, customs dues and all installation costs.