Q 1. Which of the following are methods of sale of salvage?
Q 2. Which policies are those which cover only the same classes of property in the same situations and which do not include property which others do not cover?
Q 3. Who needs to submit an interim report, if the entire investigation will take time. Basis interim report,on-account payment can be recommended, if requested by the insured?
Q 4. Sundar#39;s property is worth rs.70,000. He insured it for rs .60,000. There was a fire and sunder suffered a loss of rs 70,000 . How much claim will the insurance company pay ?
Q 5. Which condition says the policy shall be voidable in the event of misrepresentation, misdescription or non-disclosure in any material particular?
Q 6. The insurer may accept or reject it or may offer to accept it subject to certain terms. It constitutes _________.
Q 7. What is an important part of loss assessment and inventory may be made jointly by the insured and the surveyor?
Q 8. What refers to the reduction in the value of the machinery due to usage, deterioration, wear and tear, rust, corrosion metal fatigue?
Q 9. What refers to the merchand ise which are held for sale in retail stores and shops or in wholesale establishments, factories and also merchand ise intended for sale and held in warehouse and godowns?
Q 10. Under proviso 1, the time limit is _________ or further period allowed by insurers in writing.
Q 11. The term __________ would include wearing apparel, books,cameras, musical instruments, etc.,
Q 12. If the loss is proximately caused by an __________ , there is no liability under the policy.
Q 13. Q13) _________ is a corollary of the principle of indemnity and is designed to prevent the insured form recovering more than the total amount of his/her loss/
Q 14. Extent of indemnity is subject to which of the following limitation ?nbsp;
Q 15. Condition 6 provides
Q 16. In District forum, claim amount payable is less than ________.
Q 17. Which of the below property is covered under declaration policy ?
Q 18. During a claim investigation, the surveyor may conduct a chemical analysis to establish that the fire was a slow process of____________.
Q 19. When Fire insurance contract is consider as a valid one?
Q 20. Under proviso 1, the time limit is____________Or further period allowed by insurers in writing.
Q 21. Subrogation rights arise in ex-gratia payments as these are outside the scope of the policy. Say whether True or False.
Q 22. ____________ is subjected to a greater wear and tear than other plant and equipment.
Q 23. Condition 7 provides
Q 24. The principle of indemnity has how many number of corollary principles?
Q 25. What is the significance of Condition 7 in a fire insurance policy ?
