Que. 1 : Q1) Which insurance policy was developed from the Contractors’s All Risks(CAR) Insurance policy, taking into account the specific needs in connection with the installation/erection of electrical especially to their testing and commissioning after installation?
1. a) Marine-cum-erection insurance
2. b) Contract works insurance
3. c) Erection All Risks
4. d) None of these
Que. 2 : Q2) Which policy offers “all risks” cover of a predominantly engineering nature, particularly against machinery breakdown, fire and chemical explosion as well as natural perils for the entire insured plant, with only a few property exclusions and excluded perils?
1. a) Contract Works Insurance policy
2. b) Machinery leasing insurance policy
3. c) Comprehensive Machinery Insurance Policy
4. d) Contractor’s plant and Machinery Insurance
Que. 3 : Q3) What shall mean an explosion arising out of chemical reaction in any plant?
1. a) Chemical explosion
2. b) Flue gas explosion
3. c) Boiler
4. d) Collapse
Que. 4 : Q4) What is the purpose of conducting a feasibility study of the project?
1. a) To determine estimated project time
2. b) To decide workability of the project from various factors relating to physical, economical, environmental and political aspects
3. c) To determine employment potential to employees
4. d) To decide about the purchase of machinery and equipment to be used in the project
Que. 5 : Q5) Industrial All Risk Policy allows under insurance up to
1. a) 15% of sum insured
2. b) 20% of sum insured
3. c) No allowance for under insurance
4. d) Underinsurance to be computed as per fire tariff