Que. 1 : Q1) The estimation of Maximum Probable Loss (MPL) to which the organisation may be exposed is done during which stage of risk management?
1. a) Risk identification
2. b) Risk evaluation
3. c) Risk control
4. d) Risk financing
Que. 2 : Q2) Which of the following condition/information is not relevant in Boiler Explosion Insurance:
1. a) Alteration of fuel used in the Boiler.
2. b) The pressure on the safety valve should not be more than as specified in the schedule at all time.
3. c) Make and location of the boiler
4. d) All of the above are relevant.
Que. 3 : Q3) In Turnover Basis, Deposit premium collected at commencement of policy, which will be adjusted on an agreed date between the insurer and the insured but normally within ________ of expiry of the policy.
1. a) 15 days
2. b) 30 days
3. c) 45 days
4. d) 60 days
Que. 4 : Q4) The maximum permitted indemnity period under MLOP policy
1. a) 6 months
2. b) 12 months
3. c) 18 months
4. d) 24 months
Que. 5 : Q5) __________ is a stamped document which provides evidence of the insurance contract.
1. a) Proposal form
2. b) Cover note
3. c) Policy
4. d) Endorsement