1

Confidential Future Generali Insurance

CHAPTER 1 1: In the insurance context risk means a. Possibility of loss or damage

b. c. d.

Loss producing event Property covered by insurance All the above (d)

2. Which of the following statements is true a. insurance protects the asset b. insurance prevents its loss c. insurance reduces possibilities of loss d. insurance pays when there is loss of asset

(d)

3. Out of 400 houses, each valued at Rs.20,000, 4 houses get burnt every year on an average resulting in a loss of Rs.80,000. What should be the annual contribution of each house owner to make good this loss a) Rs.100/b) Rs.200/c) Rs.80/d) Rs.400/(b)

4.Which of the following statements is true 1: Insurance is a method of sharing the losses of a few by many 2: Insurance is a method of transferring the risk of an individual to a group of individuals a) only statement 1 b) only statement 2 c) both statements d) neither of the statements (C) 5. Which of the following statements is true 1: Insurance prevents the losses from happening 2: Insurance spreads the losses amongst the insureds a. Only statement 1

b. c. d.

Only statement 2 Both statements Neither of the statements (b) (d)

6: To which of the following does the employees state insurance act, 1948 apply a) Employees of central government b) Employees of state government c) Employees of public sector manufacturing companies d) Industrial employees as notified by the government 7: Which of the following provide social security a) Crop insurance scheme(RKBY) b) Janata personal accident c) Jan arogya d) All the above 8: Which of the following statements is true? 1: Insurance provides direct benefits to individuals 2: Insurance provides indirect benefits to the community a) only statement 1 b) only statement 2 c) both statements d) neither of the statements

(d)

(C)

9: Which of the following statements is true? a. Insurance facilities free investment of capital in business b. Insurance encourages commercial and industrial development c. Insurance contributes to national productivity d. All the three above (d)

CHAPTER 2 1: Which of the following are requisites of a valid insurance contract 1: consideration 2: parties of the same mind 3: parties are complement to contract a) 1 b)2 c) 1 and 2 d) all three (d) 2: Which of the following statements is correct according to law? 1: The parties to a commercial contract have to observe good faith 2: The parties to an insurance contract have to observe utmost good faith a) 1 is correct b) 2 is correct c) both are correct d) both are incorrect (C) 3: Which of the following is NOT the correct reason? a) to decide about acceptance b) to fix the rate of premium c) to fix the sum insured d) to fix terms and conditions of cover 4: Which of the following are material facts? The fact that previous insurers a) had rejected the proposal b) charged extra premium c) had refused to renew the policy d) all three a,b,&c 5: Which of the following statements is correct the duty of disclosure of material facts 1: ceases when the policy is issued 2: arises again at the time of renewal of the policy a) 1 is correct b) 2 is correct c) both are correct d) both are incorrect

(C)

(d)

(C)

6: Which of the following makes the contract unenforceable in a court of law a) The proposer has committed non-disclosure b) The proposer has committed mis-representation c) The proposer has given wrong address property due to a clerical error d) The policy is not stamped as per Indian stamp act

(d)

7: Which of the following statements is correct? 1: a void contract has no legal validity 2: a voidable contract remains a contract until the insurer excerises his option to avoid the contract a) 1 is correct b) 2 is correct c) both are incorrect d) both are correct (d) 8: The duty of disclosure of material information a) applies to insured b) applies to the agent c) applies to the insurer d) all three 9: If there is no insurable interest the insurance contract becomes a) unenforceable in a court of law b) illegal

(d)

3
c)

d)

void voidable

(C)

10: Insurable interest is NOT always required at the time of taking the policy a) fire insurance b) marine hull insurance c) marine cargo insurance d) burglary insurance (C) 11: Consent of insurers is NOT required for the assignment of a) marine hull policies b) marine cargo policies c) fire policies d) burglary policies

(b)

12: The object of the principle of indemnity is to a) pay the full cost of repairs b) pay the full cost of replacement c) pay the cost of reinstatement d) prevent the insured from making any profit out of his loss 13: Agreed value policies are issued for a) marine cargo b) marine hull c) marine cargo and hull d) fire insurance on high valued machinery 14: Sum insured under an insurance policy means a) it is the agreed value of subject matter insured b) the amount payable when there is a loss c) the amount on which the premium is calculated d) the maximum limit of liability under the policy

(d)

(C)

(d)

15: Which of the following can be granted valued policies in fire insurances? a) curios b) works of art c) obsolete machinery d) all three

(d)

16: Which of the following ensure that the amount of claim payable is less than the actual amount of loss a) pro-rata average b) excess limit c) salvage d) all the three above (d) 17: Which of these statements is correct 1: subrogation under common law is implied in contracts of indemnity 2: subrogation under common law arises only after payment of loss a) 1 is correct b) 2 is correct c) both are correct d) both are incorrect 18: Subrogation condition does not appear in a) fire policy b) marine cargo policy c) burglary policy d) baggage policy 19: Which of the following statements is correct? 1: subrogation does not arises in personal accident insurance 2: contribution does not arises in personal accident insurance a) 1 is correct b) 2 is correct

(C)

(b)

4
c) both are correct d) neither is correct 20: Proximate cause has to be selected a) when two or more causes operate simultaneously b) when two or more causes operate one after another c) when insured peril and excluded peril operate together d) all three above (C)

(d)

21: Which of the following does NOT affect the amount of loss payable under the policy? a) breach of utmost good faith b) salvage c) pro-rata average d) excess clause (a) 22: Insurance contracts are NOT gambling transactions because a) they are based on insurable interest b) the policy is stamped c) full premium is paid d) all material facts are disclosed

(a)

23: If an insurance policy is not stamped as per indian stamp act,the contract becomes a) illegal b) void c) voidable d) unenforceable in a court of law (d) 24: When there is fraudulent breach of utmost good faith the insurance contract becomes a) unenforceable in a court of law b) illegal c) void d) voidable (C) 25: The contractual duty of utmost good faith applies a) to motor insurance only b) to marine cargo insurance only c) to fire insurance only d) all insurances where proposal form with a declaration clause is used 26: Which of the following documents have to be stamped as per indian stamp act. 1: Endorsement on a fire policy increasing the sum insured 2: marine open cover for export shipments a) 1 only b) 2 only c) both 1 and 2 d) neither of the documents (d) 27: Which of the following statements is true or false 1: No claim can be paid under an illegal policy 2: Claim can be paid, at the option of the insurer under a void policy a) 1 is true b) 2 is true c) both 1 and 2 are true d) both are false (a) 28: If there is a non-disclosure of a material fact due to oversight, the insurance contract becomes a) void b) voidable c) illegal d) invalid (b) 29: The principle of utmost good faith requires the proposer to disclose material facts a) which he knows b) which he ought to know c) which he knows and ought to know d) none of the above (C)

(d)

5
30: Which of the following statements is true 1: The proposer need not disclose facts which he considers as not material 2: Facts which are of common knowledge need not be disclosed a) 1 is true b) 2 is true c) both are true d) both are false (b) 31: Which of the following is an evidence of insurance contract a) payment of premium b) acceptance of proposal c) insurers prospects d) policy of insurance (d) 32: Which of the following statements is true 1: In fire insurance insurable interest is required both at the time of taking the policy and at the time of loss 2: In marine hull insurance insurable interest is required both at the time of taking the policy and at the time of loss a) only 1 b) only 2 c) both are true d) both are false (C) 33: Transfer of rights and liabilities of an insured to another person who has insurable interest is known as b) consideration c) subrogation d) assignment e) endorsement (C) 34: Which of the following principles prevents an insured from making a profit out of his loss a) proximate cause b) pro-rata average c) indemnity d) insurable interest (C) 35: The legal right to insure means a) consideration as per Indian contract act b) competence as per Indian contract act c) assignment d) insurable interest

(d)

36: In which of the following insurances the principle of indemnity is modified a) public liability b) fidelity guarantee c) marine cargo d) baggage insurance (C) 37: An insured cannot recover more than his actual loss because of a) under-insurance b) excess clause c) principle of indemnity d) franchise clause (C) 38: In which of the following policies the principle of indemnity is modified a) fire declaration policy b) fire floating policy c) fire reinstatement policy d) fire loss of profits policy (C) 39: Which of the following is NOT a contract of indemnity in the strict sense a) mediclaim insurance b) personal accident insurance c) fidelity guarantee d) burglary insurance (b)

6
40: The principle of indemnity arises under the a) Insurance act 1938(as amended) b) IRDA act c) Indian contract act d) Common law 41: Which of the following statement is true 1: Marine cargo policies are valued policies 2: Marine hull policies are valued policies a) 1 is true b) 2 is true c) both are false d) both are true

(d)

(d)

42: The principle of indemnity is applied through deduction a) for under insurance b) for depreciation c) under franchise clause d) under excess clause

(b)

43: Under which of the following clauses, the insured has to bear a part of the loss a) pro-rata average b) franchise clause c) excess clause d) all the above clauses (d) 44: The principle of subrogation applies under a) products liability policy b) fidelity guarantee c) fire policy d) all the above

(d)

45: When there are several policies on the same subject-matter, each insurer pays only a proportion of the loss. This is known as a) pro-rata average b) franchise c) contribution d) subrogation (C) 46: Which of the following statements is true 1: Contribution applies only to contracts of indemnity 2: Contribution does not apply to personal accident insurance a) 1 is true b) 2 is true c) both are true d) both are false (C) 47: How much is the amount of claim payable, if sum insured is Rs.2 lakhs, the excess limit is Rs.20,000/- and the loss is Rs.25,000. a) Rs.2,000 b) Rs.25,000 c) Rs.15,000 d) Rs.5000 (d) 48: What is the amount of claim payable if the loss is Rs.8000/- under a policy with a sum insured of Rs.1 lakh and excess limit is Rs.10,000/a) nil b) Rs.10,000 c) Rs.8000 d) Rs.2000 (a) 49: A policy with a sum insured of Rs.1 lakh is subject to a franchise limit of Rs.10,000/- . What is the amount payable if the loss is Rs.15,000/a) Rs.15,000/b) Rs.5,000

7
c) d) Rs.25,000/Nil (a)

50: A policy with a sum insured of Rs.1 lakh is subject to a franchise limit of Rs.10,000/-. What is the amount of claim payable if the loss is Rs.5,000/a) Rs.10,000 b) Rs.15,000 c) Rs.5,000 d) Nil (d)

CHAPTER 3 1:As per the IRDA regulations in which of the following insurance, written proposal is not necessary a) fire insurance on cargo industrial risks b) Marine cargo insurance c) Compulsory public liability d) Fidelity guarantees (b) 2: Which of the following questions is common to all proposal forms a) proposers previous insurance b) proposers present insurance c) past losses d) all the above (d) 3: The purpose of the proposal form is to provide for a) material information b) declaration that the answers are true and accurate c) agreement of the insured that the form shall be the basis of the insurance contract d) all the above three (d) 4: In which of the following clauses of the scheduled form of policy, the parties to the contract are mentioned a) signature clause b) operative clause c) recital clause d) warranties clause (C) 5: In which of the following clauses of the scheduled form of policy references is made to the sum insured or limit of liability. a) recital clause b) operative clause c) signature clause d) warranties clause (b) 6: If a warranty is breached the policy becomes a) void b) voidable c) invalid d) unenforceable in a court of law 7: Certificates of insurance are issued in a) marine hull insurance b) marine cargo insurance c) engineering insurance d) workmens compensation insurance

(b)

(b)

8: In motor insurance certificates of insurance are issued because a) make of vehicle is not known b) year of manufacture is not known c) seating capacity is not known d) it is required by the motor vehicle act 9: Which of the following statements is true

(d)

8
1: Endorsements are issued at the time of issuing the policy as part of the policy 2: Endorsements are issued after the policy to record alterations a) 1 is true b) 2 is true c) both are true d) both are false (C) 10: Renewal notice is issued because a) it is required under the insurance act b) of IRDA regulations c) it is a healthy business practice d) it is provided by policy conditions

(C)

CHAPTER 1: Which of the following is paid out of pure premium a) losses b) agency commission c) expenses of management d) unexpected heavy losses 2: Rate of premium is based on a) degree of hazard b) variations in degree of hazard c) past loss experience d) all the above

(a)

(d)

3: To arrive at final rate by loading the pure rate which of the following is NOT taken into account a) past losses b) unexpected heavy losses in the future c) margin for expenses of management d) margin for profits (a) 4: Final rate of premium is arrived at by loading the pure rate of premium to provide for a) commission to intermediaries b) expenses of management c) margin for profit d) all the above three (d) 5: After withdrawal if tariffs w.e.f. 1.1.2007,issurers cannot charge their own rates for which of the following classes of insurance. a) fire insurance b) engineering insurance c) motor third party insurance d) workmens compensation insurance (C) 6: Which of the following statements is true 1: Insurers charge for motor third party policies rates of premium fixed by IRDA 2: Insurers can charge higher rates based on their own past loss experience a) 1 is true b) 2 is true c) both are true d) both are false (a) 7: Under IRDA guidelines which of the following policies does NOT fall under internal tariff rated products a) Burglary insurance b) Fidelity insurance c) Personal accident insurance d) Group health insurance (d) 8: Under IRDA guidelines which of the following policies fall under package or customized products a) Homeowners comprehensive b) Shopkeepers comprehensive c) Bankers blanket d) All the above (d) 9: Under IRDA guidelines which of the following policies fall under individual and experience rated products a) group personal accident b) group health c) motor fleets

9
d) all the above (d) 10: Under IRDA guidelines which of the following policies fall under exposure rated products a) earthquake risk b) policies with a sum insured of Rs.2500 crores or more at one location for material damage c) policies with a sum insured of Rs.2500 crores or more at one location for combined material damage and business interruption d) liability insurance(Rs.100 crores or more per event) (a)

CHAPTER 5 1: As per the insurance act,1938(as amended) an insurer has to obtain a report from a licensed surveyor if the loss equals or exceeds a) Rs.15,000 b) Rs.20,000 c) Rs.25,000 d) Rs.50,000 (b) 2: Which of the following is true No insurer shall assume any risk unless and until a) the premium is received in advance b) the premium is guaranteed to be paid c) a deposit is made in advance d) all the above 3: Which of the following are the functions of IRDA 1: To regulate the rates of premium offered by insurers 2: To regulate investment of funds by insurance companies a) 1 only b) 2 only c) both are true d) neither (C) 4: As per IRDA regulations no commission or brokerage can be paid by insurers exceeding ------% of premium payable in respect of policy through agents or brokers a) 10% b)15% c)20% d)30% (d) 5: Which of the following are the functions of IRDA To protect the interests of policy holders in matters of a) settlement of claim b) fair and equitable rates of premium c) terms and conditions of insurance d) all the above

(d)

(d)

6: As per general insurance business(nationalization) amendment act 2002,general insurance corporation of India shall carry on a) reinsurance business only b) overseas reinsurance business only c) aviation insurance business only d) administration of motor third party insurance pool only (a) 7: Which of the following statements is true under code of conduct for agents 1: The agent must disclose his license to the prospect on demand 2: The agent must disclose the scales of commission under policies offered for sale, if asked by the prospect a) only 1 b) only 2 c) both are true d) both are false (C) 8: As per the code of conduct, which of the following is true The agent must inform promptly the prospect about 1: the acceptance of the proposal by the insurer 2: the rejection of the proposal by the insurer a) 1 is true

10
b) c)

d)

2 is true both are true both are false

(C)

9:As per code of conduct, a corporate agent cannot procure more than -----% of the total premium in his portfolio of insurance business from one organization a) 20% b)30% c)40% d)50% (d) 10: An insurance agent whose licence has been cancelled by the designated person cannot apply for fresh license unless a period of ----- years has elapsed from the date of such cancellation a) 3 years b) 4 years c) 5 years d) 6 years (C) 11: Under IRDA guidelines which of the following is eligible to become a corporate agent a) a banking company b) a cooperative society c) a non-government organization d) all of the above (d) 12: Who among the following is eligible to be nominated corporate insurance executive by a corporate agent a) a partner( in the case of a firm) b) a director( in the case of a company) c) one or more of its officers d) all the above (d) 13: Which of the following statements is true 1: code of conduct applies to corporate insurance executives 2: code of conduct applies to specified persons of corporate agents a) 1 is true b) 2 is true c) both are true d) neither is true

(C)

14: Which of the following statements is true 1: corporate insurance executive has to undergo training and pass the licensing examination 2: specified persons have to undergo training and pass the licensing examination a) 1 is true b) 2 is true c) both are true d) neither is true (C) 15: specified persons nominated for soliciting insurance business by a corporate agent can be a) one or more of its partners b) one or more of its directors c) one or more of its employees d) all the above (d) 16: IRDA advertisement regulations apply to a) insurance companies b) insurance brokers c) insurance agents d) all the above

(d)

17:Which of the following is not a function of a direct broker as per IRDA regulations a) advise clients on appropriate cover and terms b) submit insurers premium quotation to client c) pay premium to insurers on behalf of client d) assist in negotiation of claims (C) 18: Which of the following are functions of direct broker as per IRDA regulations a) to provide advice to client on appropriate covers b) to provide underwriting information to insurers c) to provide insurance consultancy services d) all the above (d) 19: Which of the following statements is true 1: code of conduct does NOT apply to insurance brokers

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2: code of conduct does NOT apply to surveyors and loss assessors a) 1 is true b) 2 is true c) both are true d) both are false (d) 20: As per IRDA regulations which of the following is NOT a function of third party administrations a) collection of premium b) collection of claims documents c) claims scrutiny and processing d) claims payment (a) 21: Third party administators cash less services mean a) admission to a specified hospital without admission fees payment b) admission to a specified hospital without deposits c) discharge from specified hospital without payment of covered expenses of treatment d) all the above (d) 22: Under IRDA regulations it is the duty of an insurer to furnish to the insured free of charge a copy of the proposal form. Within -------days of the acceptance of a proposal a) 7 days b) 15 days c) 30 days d) 45 days (C) 23: As per IRDA regulations a surveyors has to be appointed within ------- hours/days of receipt of claim intimation from the insured a) 24 hours b) 72 hours c) 7 days d) 15 days (b) 24: As per IRDA regulations surveyors shall submit the survey report to the insurer within -----days of his appointment a) 15 days b) 30 days c) 45 days d) 60 days (b) 25: Insurer shall, within a period of ----- days of receipt of survey report, offer a settlement of claim to the insured a) 15 days b) 30 days c) 45 days d) 60 days (b) 26: Rejection of claim by the insurer shall be communicated to the insured within a of the survey report a) 15 days b) 30 days c) 45 days d) 60 days (b) period of ----- days from the receipt

27: On acceptance of offer of settlement by the insured, insurer shall make the payment within -----days from the date of acceptance of offer a) 7 days b) 10 days c) 15 days d) 30 days (a) 28: An insurer shall respond within ----- days of receipt of communication from policyholders in matters of servicing under the policy a) 3 days b) 7 days c) 10 days d) 15 days (C) 29: Micro-insurance product under IRDA regulations means

12
a) b) c) d) a health insurance contract a personal accident contract a livestock insurance contract all the above

(d)

30: Micro-insurance agent under the IRDA regulations means a) a non-government organization b) a self help group c) a micro-finance group d) all the above (d) 31: Which of the following statements is true 1: a life insurer may offer life micro-insurance product as well as general micro-insurance products 2: a general insurer may offer general micro-insurance product as also life micro-insurance products a) 1 is true b) 2 is true c) both are true d) both are false (C) 32: Which of the following statements is true 1: A micro-agent shall not distribute any product other than a micro-insurance product 2: A micro-agent shall not work for more than one life insurer and one general insurer a) 1 is true b) 2 is true c) both are true d) both are false (C) 33: Which of the following are allowed, under the regulations to distribute micro-insurance products a) individual agents b) corporate agents c) brokers d) all the above (d) 34: Which of the following statements is true 1: code of conduct regulations apply to micro-insurance agents 2: advertisement regulations apply to micro-insurance agents a) 1 is true b) 2 is true c) both are true d) both are false (C) 35: As per IRDA regulations, the remuneration to the micro-insurance agent for non-life insurance business shall not exceed -----% of premium a) 5 b)10 C)15 d)20 (C) 36: Consumer protection act applies to a) private sector b) public sector c) cooperative sector d) all the above

(d)

37: A district forum under the consumer protection act can entertain a complaint where the compensation claimed is less than Rs.----- lakhs a) 10 lakhs b) 20 lakhs c) 30 lakhs d) 50 lakhs (b) 38: The national commission under consumer protection act can entertain a complaint where the compensation claimed exceeds Rs.---a) 25 lakhs b) 50 lakhs c) 75 lakhs d) 1 crore (d) 39: Which of the following statements is true 1: state commission can entertain appeals against the order of the district forum 2: national commission can entertain appeals against the order of the state commission a) 1 is true

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b) c)

d)

2 is true both are true both are false

(C)

40: An appeal against the order of the national commission can be made within a period of ----- days from the date of order a) 30 days b) 45 days c) 60 days d) 90 days (a) 41: Which of the following statements is true 1: redressal of public grievances rules apply to life and general insurance 2: these rules apply to personal lines insurance only a) 1 is true b) 2 is true c) both are true d) both are false (C) 42: Which of the following complaints cannot be made to the ombudsman a) total repudiation of claim by insurer b) partial repudiation of claim by insurer c) delay in settlement of claims d) premium rates are high (d) 43: No complaints to the ombudsman shall lie a) if the complaint is made later than one year after the insurer had rejected the representation b) if the complaint is pending in any consumer forum c) if the complaint is subject of arbitration d) all the above (d) 44: Which of the following are grounds for filling a complaint to the ombudsman a) insurer had rejected the complaint b) complainant had not received any reply to his written representation to the insurer within one month after receipt of complaint c) the complainant is not satisfied with the insurers reply d) all the above (d) 45: Which of the following is true as per the redressal of public grievances rules 1: the award should not be more than Rs.20 lakh 2: the award should be made within three months from the date of complaint a) 1 is true b) 2 is true c) both are true d) both are false (C)

CHAPTER 6 1: Which of the following is not insured under standard fire & special perils policy a) goods in factories b) goods in open c) goods in transit by rail/road d) goods in godowns (C) 2: The terms fire under the fire policy means a) natural heating b) burning by order of public authority c) spontaneous combustion d) accidental ignition 3: Which of the following are covered in fire insurance a) raw materials b) semi-finished goods c) packing materials

(d)

14
d) all the above (d) 4: Which of the following statements is true 1: Explosion is covered under standard fire and special perils policy 2: implosion is covered under standard fire and special perils policy a) 1 is true b) 2 is true c) both are true d) both are false (C) 5: Which of the following meanings of aircraft damage is NOT correct a) damage by aircraft b) damage by other aerial devices c) damage by pressure waves d) damage by other space devices

(C)

6: Which of the following statements is true 1: Terrorism is included in riot,strike and malicious damage 2: Terrorism is a separate cover at extra premium without riot, strike and malicious damage a) 1 is true b) 2 is true c) both are true d) both are false (d) 7:Terrorism cover for industrial risks is subject to a deduction of a) 0.5% of total sum insured b) 1.0% of total sum insured c) 2.0% of total sum insured d) 3.0% of total sum insured

(a)

8: Which of the following is NOT impact damage covered under standard fire and special perils. Visible physical damage by direct contact with a) any road vehicle b) any rail vehicle c) insureds own forklift on the premises d) any animal (C) 9: Which of the following is NOT covered under standard fire and special perils policy a) cyclone b) hurricane c) earthquake d) flood (C) 10: Subsidence covered under standard fire and special perils policy means a) normal cracking b) settlement c) bedding down of new structures d) subsidence of part of the site on which the property stands 11: The deductible for act of god perils under standard fire and special perils policy is a) 1% of each and every loss b) 3% of each and every loss c) 4% of each and every loss d) 5% of each and every loss (d) 12: The deductible for perils other than act of god perils under standard fire and special perils policy is a) Rs.5,000/- for each and every loss b) Rs.10,000/- for each and every loss c) Rs.15,000/- for each and every loss d) Rs.20,000/- for each and every loss (b) 13: Which of the following is true under standard fire and special perils policy 1: Pollution which itself results from an insured perils is covered 2: Insured peril itself results from pollution is covered a) 1 is true b) 2 is true

(d)

15
c)

d)

both are true both are false

(C)

14: The standard fire and special perils policy automatically covers works of art for an amount not exceeding a) Rs.5,000/b) Rs.10,000/c) Rs.20,000/d) Rs.25,000/(b) 15: Which of the following statements is true 1: All disputes regarding claim under the fire policy are to be referred to a civil court. 2: disputes regarding the amount of claim payable are to be referred to arbitration a) 1 is true b) 2 is true c) both are true d) both are false (b) 16: The maximum limit of cover under architects fees add-on cover is -----% of the adjusted loss a) 2.5% b)5.0% c)7.5% d)10.0% (C) 17: The sum insured under debris removal add-on cover cannot exceed -----% of the total sum insured under the fire policy a)5% b)10% c)15% d)20% (b) 18: Which of the following is paid under debris removal add-on cover a) costs of removal of debris b) costs of dismantling c) costs of demolishing d) all the above (d) 19: Which of the following is covered under fire policy at extra premium a) impact damage b) bush fire c) forest fire d) subsidence (C) 20: According to policy condition the fire policy ceases cover if the building insured becomes unoccupied for more than a) 15 days b) 30 days c) 45 days d) 60 days (b) 21: Under fire policy pro-rata average applies when there is a) double insurance b) over insurance c) under insurance d) subrogation (C) 22: Which of the following property is covered under the fire policy if expressly stated in the policy a) books of account b) business books c) computer system records d) all the above (d) 23: If liability for a claim under the fire policy is disclaimed by the insurer, the insured has to file a suit in a court of law within ----- months of the date of disclaimer a) 6 months b) 12 months c) 24 months d) 36 months (b) 24: Which of the following is excluded under deterioration of stocks add-on cover to the fire policy a) act of government b) act of municipal authority c) rationing ,etc of power supply d) none of the above (d)

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25: Which of the following perils can be an add-on cover at extra premium under the standard fire and special perils policy a) flood b) explosion c) earthquake d) cyclone (C) 26: Which of the following perils is NOT covered under standard fire and special perils policy a) flood b) subsidence c) bush fire d) forest fire (d) 27: Debris removal expenses are covered upto ------% of the claim amount under standard fire and special perils policy a) 1 % b) 2% c)3% d)4% (a) 28: Architects fees are covered upto -------% of the claim amount under standard fire and special perils policy a) 1 % b)2% c)3% d)4% (C) 29: Which of the following statements is true 1:Terrorism is an exclusion under the standard fire and special perils policy only 2: Terrorism can be covered at extra premium along with riot, strike and malicious damage a) 1 is true b) 2 is true c) both are true d) both are false (C) 30: Which of the following statements is true As per fire policy condition on the happening of a loss 1: the insurers have a right to take possession of the premises where the loss has occurred 2: the insured can abandon the damaged property to the insurers a) 1 is true b) 2 is true c) both are true d) both are false (a) 31: Under fire policy sum insured is Rs.1,00,000/- , loss is Rs.60,000/- , value of property at the time of proposal Rs.1,50,000/- value of property at the time of loss Rs.2,00,000/- . What is the amount of loss payable a) Rs.40,000/b) Rs.30,000/c) Nil d) Rs.60,000/(b) 32: Which of the following commodities are susceptible to spontaneous combustion a) groundnuts b) copra cake c) dyes and chemicals d) all the above (d) 33: Under earthquake add-on cover, excess is -----% of each and every claim a)2% b)3% c)4% d )5% (d) 34: Which of the following is NOT covered under spoilage material damage extension a) b) c) d) loss of stock in process loss of stock in godowns damage to machinery damage to containers and equipment (b)

35: Escalation clause added to the fire policy allows automatic regular increase not exceeding ------% in sum insured throughout the period of the policy

17
a) 5% b) 10% c) 25% d)50% (C) 36: Which of the statements is true or false under fire insurance 1: escalcation clause applies to buildings and machinery only 2: escalcation clause applies to fluctuating stocks a) b) c) d) statement 1 is true statement 2 is true both statements are true both statements are false (a)

37: Which of the following is NOT covered under fire floating policy a) b) c) d) a) b) c) d) stocks in process blocks stocks in godown stocks in the open stocks in transit fire floating policy fire policy with escalation clause fire reinstatement value policy fire declaration policy (d) (d)

38: Where there is frequent fluctuations in stocks/stock values, which of the following provides suitable cover

39: The maximum retention of premium under fire declaration policy is ------% of the annual premium a) 10% b)25% c)50% d)75% (C) 40: Sum insured(provisional) under fire declaration policy is Rs.100,00,000/- Rate of premium is Re.1.00 per mile. Average sum insured is Rs.50,00,000/The refund premium is a) Rs.5000/a) building a) b) c) d) b) Rs.6,000/b)plant c) Rs.10,000/d) stock d)nil (d) (a) 41:Fire reinstatement value policy is not issued in respect of c)machinery 42: Under which of the following circumstances market value only is payable under fire reinstatement value policy insured is unwilling to reinstate heavy under insurance breach of warranty breach of utmost good faith (a)

43: Under which of the following circumstances reinstatement basis of settlement will NOT apply under fire reinstatement value policy a) b) c) d) insured fails to intimate to the insurer within 6 months or any extended time to replace the damaged property insured is unable to replace the damaged property insured is unwilling to replace the damaged property all the above three (d)

44: Which of the following is correct in relation to fire reinstatement value policy 1: depreciation applies to claims 2: pro-rata average applies a) 1 is true b) 2 is true c) both are true d) both are false (b) 45: Which of the following statements is correct Fire reinstatement value policy is granted on

18
1: Buildings and machinery only 2: Stocks only a) b) c) d) a) b) c) Statement 1 is correct Statement 2 is correct Both statements are not correct Both statements are correct machinery breakdown policy electronic equipment policy business interruption(machinery breakdown) business interruption( fire and special perils) (C) (a)

46: Of the following which is an optional cover under industrial all risks policy

d)

47: Fire consequential loss policy pays the insured a) b) c) d) net profit standing charges increased cost of working all the above three (d)

48: The turnover of a business consists of a) b) c) d) a) b) c) variable charges and standing charges standing charges and net profit variable charges and net profit variable charges, standing charges and net profit Turnover minus variable and standing charges Net profit and cost of production Net profit and standing charges Net profit and variable charges (C) (d)

49: Gross profit, in the context of consequential loss(fire) policy means:

d)

50: Which of the following statements is true 1: The sum insured under consequential loss(fire) policy is to be fixed by the insured 2: The sum insured is to be computed from the insureds accounts a) 1 is true b) 2 is true c) both are true d) both are false (C) 51: Turnover is Rs.20 lacs cost of production Rs.14 lacs. Fixed overheads Rs.4 lacs. Net profit Rs.2 lacs . Calculate the sum insured for a consequential loss(fire) policy a) Rs.10 lacs b) Rs.18 lacs c) Rs.2 lacs d) Rs.6 lacs (d) 52: Turnover is Rs.10 lacs. Cost of production Rs.7 lacs. Fixed overheads Rs.2 lacs. Calculate the net profit for consequential loss(fire) policy a) 1 lac b) 3 lacs c) 5 lacs d) 8 lacs (a) 53: Which of the following statements is true 1: The indemnity period is to be selected by the insured. 2: The period of indemnity may vary from 3 months to 3 years a) 1 is true b) 2 is true c) both are true d) both are false (C) 54: Which of the following statements is true

19
1: The sum insured under consequential loss(fire) policy should be equal to gross profits of the indemnity period selected. 2: The sum insured should be equal to the net profits of the indemnity period selected. a) 1 is true b) 2 is true c) both are true d) both are false (a) 55: Annual amount of gross profit is Rs.1,20,000. Calculate the sum insured under consequential loss (fire) policy for an indemnity period of 24 months a) Rs.60,000 a) salaries a) b) c) d) months a) Rs.60,000/a) b) c) d) b)Rs.90,000/c)Rs.1,20,000/d)Rs.1,80,000/(C) 59: Which of the following must occur before a loss under consequential loss(fire) policy becomes payable insured peril must occur property damaged by the insured peril insureds business is interrupted all the above (d) b) Rs.90,000 c)Rs.1,20,000 d)Rs.2,40,000 (d) (d) 56: Which of the following is NOT a standing charge under consequential loss(fire) policy b) office expenses c) cost of stationery d) cost of raw materials 57: Which of the following are standing charges insurance premiums rent interest on loans from banks all the above (d)

58: Annual gross profit is Rs.1,20,000/-. Calculate the sum insured under consequential loss(fire) policy for a period of 9

60: Which of the following statements is true 1: consequential loss(fire) policy must be taken in conjuction with material damage(fire) policy 2: payment of loss under consequential loss(fire) policy is subject to payment of loss under fire material damage policy a) 1 is true b) 2 is true c)both are true d) both are false (C)

CHAPTER 7 1: which of the following falls under marine cargo insurance a) b) c) d) export shipments import shipments rail/road consignments all the above (d) b) FOR contract c) C&F contract d) CIF contract (d)

2: Under which of the following the seller arranges cargo insurance for the entire voyage a) FOB contract 3: which of the following statements is true 1: The seller is responsible for cargo insurance till the goods are placed on board the steamer under FOB sale contract 2: The buyer is responsible for cargo insurance once the goods are placed on board under C & F contract a) 1 is true b) 2 is true c) both are true d)both are false (C) 4: Which of the following statements is true 1: For export/import cargo policies,institute cargo clauses(I.C.C) are used 2: For inland transit consignments, local clauses are used a) 1 is true b) 2 is true c) both are true d) both are false (C)

20
5: Which of the following is covered under institute cargo clauses(C) a) b) c) d) fire explosion derailment of land conveyance all the above (d)

6: Which of the following statements is true 1: general average sacrifice is covered under ICC(C) 2: jettison is covered under ICC(C) a)1 is true a) b) c) d) a) b) c) d) a) b) c) d) a) b) c) d) a) b) c) d) b) 2 is true c) both are true d) both are false (C) 7:Which of the following is NOT covered under institute cargo clauses(C) standing of vessel washing overboard collision of vessel jettison washing overboard total loss of package during loading earthquake all the above volcanic eruption lightning earthquake rain water damage fresh water damage breakage leakage all the above (d) (d) (d) (b)

8: Which of the following risks are covered under institute cargo clauses(b)

9: Which of the following falls under Extraneous risks

10: Which of the following falls under Extraneous risks

11: Which of the following extraneous risks can be added under ICC(B) clauses on payment of extra premium Heating Sweating Breaking All the above (d)

12: Which of the following statements is true of false 1: ICC(B) & (C) provide specified risks cover 2: ICC(A) provide all risks cover a) statement 1 is true statement 2 is true both statements are true both statements are false (C)

b)
c)

d)
a) b)

13: Malicious damage is automatically covered under ICC(A) clauses ICC(B) clauses

21 c)
d) ICC(C) clauses Not covered under any of the above b) pilferage c) non-delivery d) all the above (a) (d)

14: Which of the following risks can be added to ICC(B) clause on payment of extra premium a) theft a) b) 15: Which of the following exclusios does NOT appear under ICC(A) clause inadequate packing inherent vice malicious damage loss by delay (C)

c) d)
a) b) c) d) a) b) c) d)

16: Which of the following losses are NOT deemed to be accidental losses ordinary leakage ordinary wear and fear inherent vice all the above loss by delay loss from insolvency of owners of the vessel loss due to inadequate packing war and kindred perils (d) (d)

17: Which of the following risks excluded under ICC clauses can be covered on payment of extra premium

18: The cover under the Transit clause of ICC terminates on the expiry of ----- days after discharge from the vessel at the final port of discharge a) 15 days b) 30 days c) 45 days d) 60 days (d) 19: Which of the following statements is true 1: The duration of cove for marine risks is for the entire voyage on a warehouse to warehouse basis 2: The duration of cover for war risks is restricted to the time when the goods are waterborne and not on land a) b) c) 1 is true 2 is true both are true both are false (C)

d)

20: Which of the following statements is true 1: The duration of cover for strikes, riot and civil commotion applies during the entire voyage on a warehouse to warehouse basis 2: The duration of cover for strike, riot and civil commotion applies only when the goods are waterborne and not on land a) 1 is true b) 2 is true c) both are true d) both are false (a) 21: Under institute cargo clause(AIR) the period of cover after unloading of cargo from the aircraft at the final place of discharge is limited to -----days a) 15 days b)30 days c)45 days d) 60 days (b) 22: Under institute cargo clauses(AIR), at extra premium 1: war risks can be covered 2: strike, riots and civil commotion risks can be covered a) 1 is true b) 2 is true a) fire c) both are true d) both are false (C) 23: Which of the following is NOT covered under inland transit(rail/road) claluse B

22
b) c) d) lightning breakage of bridges non-delivery (d)

24: Under inland transit(rail/road) clause B on payment of extra premium 1: war risks can be covered 2: strike,riots and civil commotion risks can be covered a) 1 is true b) 2 is true c) both are true d) both are false (b) 25: Under inland transit(rail/road) clause B & A, the duration of cover terminates after expiry of ------days after arrival of the railway wagon at the final destination railway station a) 3 days a) b) c) d) a) b) c) d) b) 7 days c)10 days d) 15 days (b) 26: Normal rates of premium apply for cargo carried in vessels approved by following classification societies lloyds register of shipping American bureau of shipping Indian register of shipping All the above name of steamer not known number and date of railway receipt is not known number of packages involved in transit are not known all the above (d) (d)

27: Under which of the following circumstances marine cover note is issued

28: Which of the following statements is true 1: certificate of insurance under open policy is not stamped 2: certificate of insurance under open cover is stamped a) b) c) 1 is true 2 is true both are true both are false (C)

d)

29: Which of the following statements is true 1: open policies are useful to cover inland consignmentsr 2: open covers are useful to cover export/import shipments a) 1 is true b) 2 is true c) both are true d) both are false (C) 30: The basis of valuation adopted under marine open cover is the prime cost of goods, costs of freight and insurance plus ----% to cover profits a) 5% b)10% c)15% d)20% (b) 31: For which of the following , special declaration policy is not issued

a) b)
c) d)

rail despatches road dispatches inland waterways dispatches export/import shipments (d)

32: Which of the following statements is true 1: actual total loss occurs where the subject matter of insurance is entirely destroyed 2: constructive total loss occurs where the cost of repairs of damaged goods exceeds the value of goods after repair a) 1 is true b) 2 is true c) both are true d) both are false (C) 33: Which of the following risks covered under institute cargo clause(B) are not covered under institute cargo clauses(C)

23
a) b) c) standing of vessel collision of vessel sea-water damage explosion (C)

d)
a) b) c) d) a) b) c)

34: Which of the following risk is automatically covered under institute cargo clauses(A) without extra premium inherent vice country damage war and kindred risks strikes,riots and civil commotion fresh water damage rain water damage inherent vice country damage (C) (b)

35: Which of the following perils CANNOT be added by extra premium to institute cargo clauses(B)

d)
a) b) c) d) a) b) c) d) a) b) c)

36: The inland transit(rail/road) clause C covers the following risks fire and theft derailment collision fire and lightning (d)

37: Under inland transit(rail/road) clause(C), the insurance ceases after 3 days of arrival of wagon at destination railway station after 7 days of arrival of wagon at destination railway station after 15 days of arrival of wagon at destination railway station on unloading of each package declaration clause basis of valuation clause location clause limit per bottom clause (C) (d)

38: The clause in open cover which limits the liability of insurers at any one time or place before the shipment is known as

d)

39: When badly damaged goods are abandoned because the cost of reconditioning exceeds the value of goods after reconditioning, the loss is settled as a) b) c) salvage loss actual total loss constructive total loss general average loss (C)

d)
a) b) c) d)

40: Extra charges in cargo claims refer to landing charges reconditioning charges warehousing charges survey fees a) b) invoice bill of lading (d)

41: Which of the following is NOT required under rail transit claims

24
c) d) a) b) c) d) original policy non-delivery certificate landing charges warehousing charges reconditioning charges loss surveyors fees (d) (b)

42: Which of the following expenses does NOT fall under sue and labour charges

43: Which of the following statement is true 1: in cargo losses, the survey fees are paid by the claimant initially 2: survey fees are reimbursed by insurers, if the claim is admitted a) 1 is true a) b) c) d) a) b) c) d) b) 2 is true c) both are true d) both are false (C) 44: Which of the following documents is NOT required under particular average claims policy bill of lading survey report general average statement original policy consignment note letter of subrogation(stamped) special power of attorney(stamped) (d) (d)

45: Which of the following documents is NOT required under road transit claims

CHAPTER a) b) c) ambulance mobile dispensaries motorized rickshaws cinema, film recording vans

1: Which of the following does NOT fall under miscellaneous classification of motor vehicles

d)
insurable a) b) c) d) a) b) c) d) a) b) c)

(C)

2: Under motor vehicles act, liability under workmens compensation act towards which of the following is compulsory paid driver of vehicle conductor(public service vehicle) ticket examiner(public service vehicle) all the above of any third party of any passenger of a public service vehicle damage to any property of a third party all the above Rs.10,000/Rs.6,000/Rs.20,000/(d) (d)

3: The liabilities which require compulsory insurance under motor vehicles are for death or bodily injury

4: Under the motor vehicles act, the limit of liability for damage to third party is Rs.

25
d) Rs.25,000/b)Rs.50,000 c)Rs.1,00,000 (b) d) unlimited (d) 5: Under the motor vehicles act the limit of liability for death or bodily injury of a passenger in a public service vehicle is a) Rs.25,000 6: Which of the following statements is true Liability under workmens compensation act is to be compulsory insured is respect of 1: workers carried in a goods vehicle 2: workers carried in a public service vehicle a) 1 is true b) 2 is true c) both are true d) both are false d)Rs.2,00,000/d) Rs.1,00,000/(a) (b) (b) 7: Under the motor vehicles act, the amount of compensation for death on the basis of no-fault liability is Rs.-----a)Rs.25,000/- b) Rs.50,000/a) Rs.12,500/- b) Rs.25,000/c) Rs.1,00,000/c)Rs.50,000/8: Under the motor vehicles act, the fixed compensation for death in hit and run motor accident is Rs.----9: Which of the following statements is true 1: compensation to victims of hit and run motor accident are payable out of solatium fund 2: compensation for victims of motor accident on no-fault basis is awarded by the motor accident claims tribunal a) 1 is true a) b) c) d) b) 2 is true c) both are true d) both are false (C) 10: Liability only motor policy covers liability for damage to property of third party property belonging to insured property held in trust by the insured property in the custody of the insured a) b) c) d) (a)

11: Personal accident cover for owner-driver under liability only motor policy applies only if the owner-driver is the registered owner of the insured vehicle owner-driver is the insured named in the policy owner-driver holds an effective license all the above b)Rs.50,000/b)Rs.1,00,000/b)Rs.1,00,000/c)Rs.1,00,000/c)Rs.2,00,000/c)Rs.2,00,000/(d) d)Rs.2,00,000/d) Rs.3,00,000/d)Rs.3,00,000/(C) (C) (C)

12: Under personal accident cove for owner-driver the capital sum insured for two-wheelers is a) Rs.25,000/a) Rs.50,000/a) Rs.50,000/13: Under personal accident cover for owner-driver the capital sum insured for private cars is 14: Under personal accident cover for owner-driver the capital sum insured for commercial vehicles is 15: Which of the following statements is true or false 1: Compulsory motor third party insurance covers negligence liability 2: compulsory motor third party insurance covers no-fault liability a) b) c) d) statement 1 is true statement 2 is true both statements are false both statements are true (d)

16: Which of these statements is true or false Compensation from solatium fund is paid for 1: no-fault liability claims 2: hit and run claims a) both are true b) both are false c) 1 is true d) 2 is true (d)

26
17: In the event of death of sole insured under a motor policy the policy will remain valid for a period of ------months from the date of death of the insured or until the expiry of the policy(whichever is earlier) a) 3 months b) 6 months c)9 months d)12 months (a) 18: Applications from legal heirs of the deceased insured for transfer of policy to their name should be accompanied by documents. Which of the following is NOT required a) b) c) d) death certificate post-mortem report proof of title to the vehicle original policy b)earthquake c)50% c)terrorist act d)nil (b) d) all are covered (d) (d)

19: Which of the following is NOT covered under private car package policy a) self-ignition a) 20% a) b) c) d) a)10% a) b) c) d) a) b) c) b)30% 20: Under private car package policy, the rate of depreciation for all parts made of glass is 21: Which of the following exclusions does NOT appear in own damage section of private car package policy mechanical breakdown wear and fear electrical breakdown malicious damage b)20% c)30% d)50% (d) (d)

22: The rates of depreciation for replacement of rubber parts under private car package policy is 23:Which of the following is covered under private car package policy transit of the insured vehicle by road transit of the insured vehicle by rail transit of the insured vehicle by air all the above earthquake lightning loss of accessories unless the vehicle is stolen at the same time landside (C) (d)

24: Which of the following is NOT covered under private car package policy

d)
a) b) c) d)

25: Under the private car package policy the towing charges in respect of a damaged vehicle mean cost of protection to the vehicle cost of removal to the nearest repairer cost of re-delivery to the insured all of the above b)Rs.1000/c)Rs.1500/(d) d)Rs.2000 (C)

26: The maximum towing charges of a private car payable is restricted to a)Rs.750/27: Which of the following statements is true 1: The insureds declared value of the vehicle is fixed on the basis of manufacturers listed selling price of the brand and model of the vehicle at the commencement of insurance 2: The insureds declared value is the sum insured under the policy a) 1 is true a) b) 2 is true c)both are true d) both are false (C) 28: Insureds declared value of obsolete vehicles is to be determined by the surveyor

27
b) c) d) the insured the insurer the insured and insurer (d)

29: Which of the following statements is true The insured declared value shall be treated as the market value throughout the policy period without any depreciation for the purpose of 1: actual total loss 2: constructive total loss a) 1 is true b) 2 is true c) both are true d) both are false (C) 30: Under private car package policy constructive total loss arises if the cost of repairs of the damaged vehicle exceeds-------% a)75% the policy a) b) c) d) a) b) c) d) driving without a valid license damage outside geographical area breach of limitations as to use clause driving under the influence of intoxicating liquor the vehicle is stolen the vehicle is a total wreck the vehicle is beyond repairs the cost of repair exceeds 75% of IDV of vehicle (d) (d) b)80% c)90% d)100% (a) 31: Under private car package policy which of the following exclusions does NOT appear in general exception clauses of

32: constructive total loss in motor insurance arises when

33: Which of the following is true under private car package policy 1: the liability of insurer for total loss does NOT exceed insured declared value less the value of the wreck 2: the liability for partial losses does NOT exceed costs of repair/replacement less depreciation a) 1 is true b) 2 is true c) both are true d) both are false (C) 34: Which of the following statements is true 1: rates of premium for motor third party risks are fixed by the IRDA 2: rates of premium for motor own damage risks are fixed by the tariff advisory committee a) 1 is true b) 2 is true c) both are true a) b) c) d) both are false (a) 35: Which of the following is NOT a rating factor for private cars (own damage) insureds declared value of vehicle cubic capacity passenger capacity geographical zone (C)

d)
a) b) c) d) a) b)

36: Under motor package policy which of the following does NOT attract additional premium personal accident cover for owner-driver electronic fittings use of CNG fuel fibre glass fuel tanks vintage cars brand new cars (a)

37: Which of the following is NOT eligible for discount in own damage premium(private car package policy)

28
c) d) a) membership of automobile association anti-theft devices approved by automobile research association of India (b)

38: Which of the following attract additional premium under private car package policy electronic items fitted to the vehicle(but not included in the manufacturers price) CNG/LPG kit fitted to the vehicle fibre glass fuel tanks all the above age of vehicle cubic capacity geographical zone insureds declared value of vehicle (d) (d)

b)
c) d) a) b) c) d) a) b) c)

39: Which of the following is NOT a rating factor for own damage cover for taxies

40: Which of the following is NOT taken into consideration for fixing rates of premium for buses(package policy) age of vehicle licensed passenger capacity insured declared value of vehicle geographical area (C)

d)

41: Deductible under package policies applies to a) b) c) d) motorized two wheelers private cars goods vehicles all three vehicles (d)

42: In respect of motor third party insurance 1: no commission is payable 2: no brokerage is payable a) 1 is true b) 2 is true c) both are true d) both are false (C) 43: Which of the following statements is true 1: no claim bonus is computed on the own damage premium required for renewal of the policy 2: when there is transfer of interest in the motor policy from one insured to another, the transfer of no claim bonus is not automatic a) b) c) 1 is true 2 is true both are true both are false (C)

d)
a) b) c)

44: Which of the following documents is NOT required for processing private car own damage claims driving license registration certificate book fitness certificate final bill from repairs (C)

d)
a) b) c)

45: Which of the following is collected from the insured by insurers before the payment of total loss registration and taxation books ignition keys blank T.O and T.T.O forms duly signed by the insured

29
d) all the above (d) 46:Out of the following documents for own damage motor claims, select one which is additionally required for commercial vehicle(goods carrier) claims a) b) c) d) registration certificate book permit driving license police report a) b) c) d) CNG/LPG fuel kit Anti-theft devices Fibre glass fuel tanks Electronic items fitted to the vehicles but not included in manufacturers price (b) (b)

47: Which of the following does NOT attract additional premium under motor policies

48: Which of the following statements is true Motor third party premium shall be shared among all the general insurers writing motor insurance business in proportion to gross direct premium in 1: motor insurance business 2: all classes of general insurance business a) 1 is true a) b) c) d) b) 2 is true c) both are true d) both are false (b) 49: The administrator of motor third party insurance is IRDA GIC General insurance council Motor accident claims tribunal (b)

50: Which of the following statements is true 1:motor third party (injury claims) are adjudicated by motor accident claims tribunal 2: motor third party(properly damage claims) are adjudicated by civil courts a) 1 is true a) b) c) d) a) b) c) d) b) 2 is true c) both are true d) both are false (a) 51: Motor no-fault liability claims are decided by lok adalat lok nyayalaya civil court motor accident claims tribunal death certificate medical certificate police report all three (d) (d)

52: Which of the following documents is required to support motor no-fault liability third party claims

CHAPTER a) b) c) d) Permanent total disablement Permanent partial disablement Loss of two limbs Loss of one limb and one eye

1:For which of the following, full capital sum insured is NOT payable under personal accident policy

(b)

30
2: Which of the following is generally NOT covered under personal accident insurance a) b) c) d) permanent total disablement permanent partial disablement temporary total disablement temporary partial disablement (d)

3: Which of the following contingencies is NOT covered under personal accident insurance a) b) c) d) a) b) c) d) temporary total disablement temporary partial disablement permanent total disablement permanent partial disablement loss of both eyes loss of hearing in both ears paralysis loss of one limb and one eye c)Rs.3000/d)Rs.5000/(b) (C) (b)

4: Which of the following is NOT considered as permanent total disablement

5: The amount of weekly payment for temporary total disablement under personal accident insurance is restricted to a) Rs.1000/- b) Rs.2000/a) b) c) d) a) b) c) d) a) b) c) d) medical expenses expenses for carriage of dead body childrens education fund cumulative bonus service in the armed forces air travel in standard type of aircraft suicide attempted suicide child birth or pregnancy service in the armed forces accident indirectly caused by insanity all the above (d) (b) (a) 6: Which of the following additional benefits under personal accident insurance attracts extra premium

7: Which of the following is NOT excluded under personal accident insurance

8: Which of the following appear as exclusions under personal accident insurance

9: Which of the following is true in relation to personal accident insurance 1: the cover is on a 24-hour basis 2: the geographical area of cover is India a) 1 is true a) b) c) d) a) b) b) 2 is true c) both are true d) both are false (a) 10: Which of the following occupations falls under risk group III for rating purposes( personal accident) mining engineers jockeys circus personnel all the above accountants veterinary doctors (d)

11: Which of the following occupations does NOT fall under risk group I for rating purposes(personal accident)

31
c) d) a) b) c) lawyers bankers lorry drivers motor mechanics consulting architects paid drivers of motor cars (C) (b)

12: which of the following occupations does NOT fall under group II for rating purposes(personal accident)

d)

13:Which of the following statements is true 1: no medical examination is required for fresh cover for personal accident insurance 2: medical examination is required for renewal of personal accident insurance a) 1 is true b) 2 is true c) both are true d) both are false (a) 14: Which of the following statements is true 1: personal accident cover is not granted for high sum insured which is disproportionate to monthly salary of the insured 2: non-earning housewives are granted personal accident cover for capital sums only a) 1 is true b) 2 is true c) both are true d) both are false (C) 15: Which of the following statements is true in the relation to flight coupons on declaration basis 1: flight insurance coupons are issued to individuals 2: flight insurance coupons are issued to companies in respect of their employees who travel by air frequently a)1 is true a) b) c) d) b) 2 is true c) both are true d) both are false (C) 16: Which of the following is eligible for group personal accident insurance be granted members of a registered cooperative society employees of a company holders of deposit certificates issued by banks all the above (d)

17: Under group P.A policy which of the following is true 1: cumulative bonus does not apply 2: childrens education grant is available a) 1 is true b) 2 is true c) both are true d) both are false (a) 18: Group P.A cover is arranged to cover only accidents to employees arising out of and in the course of employement reduced premium equivalent to ------% of the appropriate is charged a) 50% b)60% a) b) c) d) a) b) c) d) c)75% d)80% (C) 19: Bonus(discount) and malus(loading of premium) applies under P.A insurance under individual policies group policies both individual and group policies neither individual nor group policies individual policies family package policies group policies on government employees group janata personal accident policy (d) (b)

20: Under which of the following P.A policies long term discount is available

21: If group P.A policy cover is required when the employees is not at work and/or not on official duty i.e off-duty cover, the reduced premium of -----% of the normal premium is charged

32
a)40% b)50% c)60% d)75% (b)

CHAPTER 10 1: Which of the following costs are payable under mediclaim policy a) spectacles mediclaim policy a) registration with local authorities b) operation theatre c) doctors and nursing staff round the clock d) all the above 3: As per mediclaim policy 1: expenses on hospitalization for a minimum period of 24 hours are admissible 2: this time limit is not applied if the insured is discharged the same day after specific treatment e.g dialysis a) 1 is true a) 15 days a)15 days a) b) c) d) b) 2 is true c) both are true d) both are false (d) (b) (C) 4: relevant medical expenses incurred during the period of ------ days after hospitalization are treated as part of the claim b)30 days c)45 days d)60 days b)30 days c)45 days d)60 days 5: Relevant medical expenses incurred during upto ----- days prior to hospitalization are treated as part of the claim 6: Which of the following types of specific treatment are exempted from minimum 24 hours stay in a hospital chemotherapy radiotherapy lithotripsy all the above (d) (d) b) lenses c)hearing aids d) artificial limbs (d) 2: Which of the following criteria has to be satisfied by a hospital or nursing home to be eligible to provide treatment under

7: Which of the following statements is true Domiciliary hospitalization benefit does not include 1: pre-hospitalization treatment 2: post-hospitalization treatment a) 1 is true a) tonsillitis a)bronchitis b) 2 is true c) both are true b) sinusitis b) diabetes c) cataract c)hemia d) both are false d)hemia d) chronic nephritis (a) (C) (C) 8: Which of the following diseases is excluded under domiciliary hospitalization benefit 9: Which of the following diseases is excluded during the first year of operation of mediclaim policy 10: Under mediclaim policy any disease contracted by the insured during the first ----- days from the commencement of policy is excluded a)15 days a)epilepsy a) b) c) d) b)30 days b) cataract c) 45 days c) hemia d)60 days d)piles (b) (a) 11: Which of the following diseases is NOT excluded during the first year of operation of mediclaim policy 12: Which of the following is payable under mediclaim policy if necessitated due to an accident cosmetic treatment aesthetic treatement plastic surgery all the above (d)

13: Which of the following statements is true

33
1: dental treatment is excluded unless requiring hospitalization 2: expenses on vitamins and tonics are excluded unless forming part of treatment a) 1 is true a) b) c) d) a) b) c) b) 2 is true c) both are true d) both are false (C) 14: Treatment for which of the following is excluded under mediclaim policy voluntary termination of pregnancy caesarian section childbirth all the above chemotherapy radiotherapy naturopathy cost of pacemaker (C) (d)

15: Under mediclaim policy, which of the following is NOT covered

d)

16: Subject to no claim, cost of medical checkup once in every ----- underwriting years is payable under mediclaim policy a) 2 years b)3 years c) 4 years d)5 years (C) 17: The sum insured under mediclaim policy is increased by 5% for each claim free year of insurance subject to a maximum accumulation of ----- Years a) 3 years b)5 years c) 10 years d) 15 years (C) 18: For which of the following diseases, medical certificate from a consulting physician is required to be submitted along with the proposal form a) b) c) d) a) b) c) d) a) b) c) d) a) b) c) d) diabetes hypertension coronary insufficiency all the above 2 years and 70 years 2 years and 75 years 4 years and 80 years 5 years and 80 years spouse dependent children dependent parents all the above (d) (d) (d)

19: Mediclaim insurance is available to persons between the ages of------

20: A discount in premium is allowed to a family comprising the insured and -----

21: Which of the following is NOT required in the mediclaim proposal form past diseases and details of treatment average monthly income income tax PAN all the above are required (d)

22: Which of the following is true, in relation to mediclaim proposal form 1: The insured warrants the truth of the statements and agrees that the proposal form shall be the basis of the contract 2: The insured consents to the insurer taking medical information from hospital/medical practitioner who has treated the insured a) 1 is true b) 2 is true c) both are true d) both are false (C)

34
23: Which of the following is not included in the mediclaim proposal form a) b) c) d) prospectus average monthly income income tax PAN all the above are included (d)

24: Which of the following statements is true A group mediclaim is available to any group, subject to the following 1: the group has a central administration point 2: the prescribed number of persons are covered a) 1 is true b) 2 is true c ) both are true d) both are false (C) 25:Which of the following is true under group mediclaim policy 1: cumulative bonus is not available 2: health check-up expenses are payable a) 1 is true a) b) c) b) 2 is true c) both are true d) both are false (a) 26: Which of the following is NOT available under group mediclaim policy no claim bonus group discount cumulative bonus maternity extension (C)

d)
a) b) c) d)

27: Which of the following is covered under maternity benefit extension pre-natal expenses post-natal expenses expenses for voluntary medical termination of pregnancy none is covered b) 9 months c)10 months d) 12 months (d) (b)

28: A waiting period of ----- months is applicable for payment of a maternity claim a) 8 months a) b) c) 29: Under which of the following claims, the waiting period does not apply normal delivery caesarean section abdominal operation for extra uterine pregnancy applies to all (d)

d)
a) b) c) d)

30: Claim under maternity extension in respect of any one insured person is payable only for first child first two children first three children first four children (b)

31: Which of the following is true under maternity benefit extension 1: option for maternity benefits has to be exercised at the inception of the policy 2: insured persons with two or more living children are not eligible for this benefit a) 1 is true b) 2 is true c) both are true d) both are false (C) 32: Which of the following is true under maternity benefit extension 1: The benefits are admissible only if expenses are incurred in hospital/ nursing home as in patients 2: pre-natal and post-natal expenses are admissible if admitted in hospital/nursing home for treatment a) 1 is true b) 2 is true c) both are true d) both are false (C)

35
33: which of the following is NOT payable under maternity benefit extension a) b) c) d) pre-natal expenses prior to hospitalization caesarean section miscarriage due to accident abortion due to accident (a)

34: Which of the following statements is true 1: bonus/malus clause applies to individual mediclaim policy 2: bonus/malus clause applies to individual mediclaim policy a) 1 is true b) 2 is true c) both are true d) both are false (b) 35: In relation to cancer patients aid association policy which of the following is true 1: The premium is payable to CPAA as part of the membership fee 2: claims are paid by CPAA a) 1 is true b) 2 is true c)both are true d) both are false (a) 36: No claim is payable under CPAA policy if the insured contracts cancer within a period of -----days from the date of becoming a member of CPAA a) 15 days b)30 days c) 45 days d)60 days (b) 37: Which of the following statements is true 1: claims under CPAA cancer policy are paid by insurers 2: these claims and documents have to be certified by CPAA a) 1 is true claim a) 5% b)10% c)15% d)20% (a) 39: Which of the following is true Differences as to the claim or quantum thereof are to be referred to 1: arbitration as per policy conditions 2: committee set up by CPAA and the insurance company a) 1 is true a) b) c) b) 2 is true c) both are true d) both are false (b) 40: Under critical illness policy which of the following is NOT specified as critical illness cancer paralysis tuberculosis parkinsons disease (C) b) 2 is true c) both are true d) both are false (C) 38: The sum insured under CPAA cancer policy, is increased by ----% for each completed year of policy in force prior to

d)

41:Claim under the critical illness policy is payable if during the policy period the insured is found to have contracted a critical illness and survives such critical illness for at least----days from the date of its discovery a)15 days this policy a) 30 days a) b) c) d) b) 45 days c) 60 days d) 90 days (d) 43: Overseas medical policy can be granted to Indian resident undertaking bona fide trips for the following purposes business official holiday all the above purposes (d) b)30 days c)45 days d)60 days (b) 42: Any critical illness discovered or discoverable within -------days of the inception date of the policy is not covered under

36
44: Which of the following requisites apply for eligibility for overseas medical policy of foreign nationals working in India for Indian employers of multi-national organization a) b) c) d) their salary must be in Indian rupees visit abroad for official purposes visit abroad is undertaken on behalf of employer all the above (d)

45: Under overseas medical policy, extension of the period of insurance is automatic, for the period not exceeding----days and without extra, if due to delay of public transport services beyond the control of insured a) 7 days a) b) c) d) b) 15 days child birth miscarriage abortion cosmetic surgery necessary as a result of a covered accident (d) c)21 days d) 30 days (a) 46: Which of the following is NOT excluded under overseas medical policy

47: Which of the following is NOT paid upto the full limit of cover under the overseas medical policy a) b) c) physician services hospital services dental services for immediate relief of dental pain only local emergency medical transportation (C)

d)

48:Under overseas medical policy (loss of checked baggage) for which of the following items claim is NOT paid a) binoculars b) sun-glasses a) b) c) death permanent total disablement permanent partial disablement loss of eyes or limbs (C) c)antiques d)all the above (d) 49: Under personal accident section of overseas medical policy which of the following is not covered

d)

50: Under overseas medical policy, emergency purchases of replacement items is paid if there is delay or more than -----hours in delivery of baggage at the destination of outbound flight from India a) 6 hours policy a) b) c) d) a) b) c) d) confiscation by customs detention by police or other authority no official report from the police all the above naval,military or airforce operations hazardous sports professional sports events all the above (d) (d) b) 12 hours c) 18 hours d)24 hours (b) 51: Under which of the following circumstances, loss is NOT payable under loss of passport section of overseas medical

52: Which of the following are general exclusions (all sections) of overseas medical policy

53: The insurance under overseas medical policy does not operate beyond a period of ---- days continuous absence(unless specifically agreed by insurers) a) 60 days b) 90 days c) 120 days d)180 days (d)

37
54: The overseas medical policy does NOT provide indemnity for pre-existing medical condition which is defined as sickness for which the insured person was treated in the preceding-----months prior to travel a) 3 months a) b) c) d) b) 6 months c)9 months d)12 months (d) 55: Under which of the following sections of overseas medical policy, deductible does not apply medical expenses personal accident personal liability loss of passport (b)

56: Which of the following statements is true Corporate frequent travelers policy is granted to 1: officials of companies registered under the companies act 2: partners of registered firms a) 1 is true a)30 days b) 2 is true b)45 days c) both are true c)60 days d) both are false (C) (C) 57: Under corporate frequent travel annual policy the duration of any one trip not to exceed ----- days d) 90 days 58: Which of the following statements is true 1: corporate frequent travelers policy is issued to individuals only 2:The cover under this policy is subject to the insured person advising insurers any material change in his health condition a) 1 is true b) 2 is true c) both are true d) both are false (C) 59:Under corporate group overseas medical policy deposit premium equal to premium of at least ---- days travel under plan( world-wide travel including USA/Canada) a) 200 days b)300 days c)400 days d) 500 days (d) 60: Under corporate group overseas medical policy employees above -----years of age have to submit the prescribed medical reports a) 55 years a) b) c) b) 60 years c) 65 years d) 70 years (b) 61: Which of the following persons are NOT eligible for overseas employment and study policy students prosecuting studies students doing research construction workers temporary posted abroad software engineers temporary posted abroad (C)

d)
a) b) c) d)

62: Which of the following is NOT covered under overseas employment and study policy medical expenses in India on evacuation loss of checked baggage delayed baggage personal liability (d)

CHAPTER a) b) c) death of any person injury to any person not resulting in death damage to property of any person

11

1: Under public liability insurance act 1991, the owner is NOT liable to pay relief in the event of

38
d) a)Rs.10,000/a)Rs.12,500/injury to a workman within the meaning of workmens compensation act b) Rs.12,500/b)Rs.25,000/c) Rs.25,000/d) Rs.50,000/(b) (C) (d) 2: The amount of relies payable under public liability insurance act, 1991 for fatal accident is 3: The amount of relief payable under public liability insurance act, 1991 for permanent total disability is c)Rs.50,000/- d)Rs.1,00,000/4: Under public liability insurance act, 1991 a company handling hazardous substance has to insure for an amount not less than the amount ----- of the company a) b) c) market value of assets market value of stocks paid-up capital turnover of hazardous substances (C)

d)

5: The maximum liability of the insurer under public liability insurance act 1991 to pay relief to several claimants arising out of one accident shall not exceed----a) b) c) d) Rs.2.50 crores Rs.5.00 crores Rs.7.50 crores Rs.10.00 crores (b)

6: Under public liability insurance act, 1991 the aggregate liability of the insurer to pay relief in case of more than one accident during the currency of the policy shall not exceed a) Rs.5 crores a) b) c) b) Rs.7.5 crores c) Rs.10.00 crores d) Rs.15.00 crores (d) 7:Which of the following liabilities is NOT excluded under insurance policy under public liability insurance act, 1991 arising out of willful non-compliance of statutory provision damage to property leased by the insured damage to property of third party fines and penalties (C)

d)
1991 a) b) c) d)

8: Which of the following is taken into account to fix rates of premium for the policy under public liability insurance act , limit of indemnity , any one accident limit of indemnity, any one year limit of indemnity, any one year and turnover limit of indemnity, any one accident and turnover (d)

9: Under public liability insurance act, 1991 application for claim for relief must be made to the collector within ---- years of the occurrence of the accident a) 1 year a) b) c) d) b) 2 years c) 3 years d) 5 years (d) 10: which of the following fall under industrial risks for the purpose of public liability insurance exhibitions permanent amusement parks film studios none of the above (d)

11: Which of the following is true in relation to industrial risks public liability policy 1: policy period means the period commencing from effective date and hour and terminating at midnight on the expiry date as shown in the schedule of the policy 2: period of insurance means the period commencing from the retroactive date and terminating at midnight on the expiry date as shown in the schedule of the policy

39
a) only 1is true b) only 2 is true c) both are true d) both are false (C) 12:Which of the following statements is true .The indemnity clause of industrial risks public liability policy excludes 1: products liability 2: pollution liability a) 1 is true a) b) c) d) a) b) c) b) 2 is true c) both are true d) both are false (C) 13: Under public liability policy for industrial risks, which of the following CANNOT be covered at extra premium pollution earthquake transportation of hazardous substances fines and penalties liability for pollution liability of collaboration who has a technical collaboration with the insured liability for injuries to employees liability arising out of earthquake (C) (d)

14: Which of the following exclusions of industrial risks public liability policy can be covered under a separate policy

d)

15: Under industrial risks public liability policy which of the following ratios of any one accidents and any one year limits of indemnity are not allowed a)1:2 b) 1:3 c) 1:4 d) 1:5 (d) 16: Under industrial risks public liability policy the compulsory excess of a specified percentage is applied on the limit of indemnity 1: any one accident 2: any one year a) 1 is true b) 2 is true a) b) c) d) policies a) b) c) d) a) b) c) d) a) b) c) d) products injuries to employees liability under the public liability insurance act, 1991 all the above distilleries match factories breweries biscuit factories pollution food and beverages property in the custody of the insured all the above (d) (b) (d) risk group type of construction of risk ratio of limits of indemnity-AOA to AOY turnover (b) c) both are true d) both are false (a) 17: Which of the following is NOT relevant in fixing rates of premium under industrial risks public liability policy

18: Which of the following liabilities excluded under industrial risks public liability policy can be covered under separate

19: Which of the following risks falls under group IV for rating purposes under industrial risks public liability policy

20: Which of the following extensions of cover are relevant to public liability policy for hotels

40
21: Which of the following exclusions does NOT apply under products liability policy a) b) c) d) a) b) c) d) a) b) c) d) pollution costs of repair of a defective product costs of recall of any product product guarantee motor vehicles motor vehicle tyres alcoholic beverages pharmaceutical products (b) (a)

22: which of the following products is charged the highest rate of premium under products liability policy

23: In which of the following profession, professional negligence may result in financial loss to the client doctors medical practitioners medical establishments chartered accountants a) b) c) d) a) b) c) d) a) b) c) d) architects chartered accountants medical establishments doctors medical establishments doctors chartered accountants solicitors employees state insurance act workmens compensation act fatal accidents act common law (a) (b) (d) (d)

24: In which of the following professional indemnities there is no provision for voluntary excess

25: For which of the following professional indemnities per capita premium in addition to basic rate is NOT provided

26: Which of the following does NOT appear in the indemnity clause of workmens compensation insurance

27: Which of the following statements is true 1: compulsory excess is applicable to doctors professional indemnities 2: compulsory excess is applicable to professional indemnities for medical establishments a) 1 is true a) b) c) b) 2 is true c) both are true d) both are false (b) 28: Which of the following extensions is NOT granted under workmens compensation policy specified diseases in the W.C.act medical expenses technical collaboration contractors workmen (C)

d)

CHAPTER

12

41
1: Which of the following is taken into account in fixing the estimated completely erected value of the contract works under CAR policy a) b) c) d) cost of material construction costs freight and customs duties all the above (d)

2: Which of the following statements is true 1: pro-rata average is applied under CAR policy 2: pro-rata average is applied under EAR policy a) 1 is true b) 2 is true a) b) c) d) a) b) c) d) a) b) c) d) a) b) c) d) c) both are true d) both are false (C) 3: Which of the following project does NOT fall under contractors all risk policy installation of machinery buildings tunnels bridges boiler machinery breakdown electronic equipment all the above is loaded on the vessel is discharged at the port of entry is unloaded at the site of erection leaves the manufacturers warehouse electrical equipment mechanical equipment lifting equipment all the above (d) (d) (d) (a)

4: Which of the following policies the sum insured is required to be current replacement value

5: Under marine-cum-erection policy the cover commences when the equipment

6:Which of the following property can be insured under machinery breakdown policy

7: Which of the following is true in relation to contractors plant and machinery policy 1: the policy is an annual policy 2: the policy covers plant and machinery at different project sites a) 1 is true b) 2 is true c) both are true d) both are false (C) 8: Which of the following statements is true 1: contractors all risks policy covers civil engineering projects 2: election all risks policy covers machinery during erection a) 1 is true a) b) c) b) 2 is true c) both are true d) both are false (C) 9: Which of the following is NOT covered under boiler and pressure plant policy damage to boiler damage to surrounding property of insured damage by fire damage to third party property (C)

d)

10: Which of the following statements is true

42
1: Machinery loss of profits policy is granted only if there is machinery breakdown policy covering the machinery 2: loss under machinery loss of profits is payable if the material damage under machinery breakdown policy is payable a) 1 is true a) b) c) d) b) 2 is true c) both are true d) both are false (C) 11: which of the following is NOT included in electronic equipment insurance damage to equipment damage to external data media increased cost of working loss of profits (d)

CHAPTER a) b) c) d) a) b) c) d) a) b) c) d) a) b) c) d) a) b) c) theft after forcible entry damage to insured goods by burglars damage to premises by burglars breakage of windows by burglars the safe is burglar-proof the safe is brand new the safe is of approved make the safe is approved design theft by employees theft by customers theft by visitors all the above cash in safe policy burglary declaration policy burglary floating policy first loss policy strike riot breakage of plate glass terrorism (C) (d) (d) (b) (d)

13

1: Which of the following is NOT covered under burglary( business premises) policy

2: Which of the following requirements does NOT apply for granting cash-in- safe insurance

3: which of the following is NOT payable under burglary ( business premises) policy

4: Under which of the policies pro-rata average is NOT applied

5: Which of the following risks is NOT covered at extra premium under burglary( business) premises policy

d)
a) b) c) d)

6: Which of the following losses caused by burglars is NOT payable under burglary ( business premises) policy damage to external doors by fire damage to goods which were not stolen damage to furniture theft of cash safe through original key obtained by threats of violence (a)

43
7: Which of the following properties can be covered under all risks policy on agreed value basis a) b) c) d) a) b) c) watches cameras binoculars paintings traveling salemans samples traveling dealers stocks accompanied baggage unaccompanied baggage (C) (d)

8: Which of the following is covered under baggage insurance policy

d)
a) b) c) d) period

9: Which of the following policies are NOT granted in burglary ( business premises) policy first loss policy reinstatement value policy declaration policy floating policy (b)

10: Under money insurance which of these statements is correct. Estimated amount of cash in transit during the policy 1: is the maximum amount payable for any one loss 2: is the amount on which the premium is collected a) 1 is correct b) 2 is correct c) both are correct d) both are incorrect 11: Which of the following is covered under money insurance policy a) b) c) d) wages in transit form the bank to insured premises other money in transit from the bank to insured premises money collected by outdoor employees and in transit to the bank all the above c) robbery d) terrorism (d) (C) (b)

12: Which of the following risks does NOT require additional premium under money in transit policy a) riot b) strike 13:Which of the following can be covered under money-in-transit policy at extra premium 1: dishonesty of persons carrying the cash 2: loss of wages on premises during payment to employees a) 1 only b) 2 only c) both can be covered d) neither can be covered resignation of the dishonest employee a) 6 a) b) c) b) 12 c) 18 d) 24 (b) 15: which of the following fidelity guarantee policies is usually granted to large reputable firms to cover their entire staff floating policy collective policy blanket policy positions policy (C) (C) 14: Under fidelity guarantees, the customary time limit for discovery of loss is not later than ----- months after the

d)
a) b) c) d)

16: Under which of the following fidelity guarantee policies individual amount of guarantee is NOT specified collective policy floating policy positions policy blanket policy (b)

44
17: Under which of the following fidelity guarantee policies, per capita additional premium is charged a) b) c) d) a) collective floating positions blanket lightning riot and strike theft none of the above b) explosion theft lightning mechanical breakdown external explosion (C) c) riot d) accident (d) (d) (b)

18: Which of the following risks is excluded under television insurance policy

b)
c) d) a) fire a) b) c)

19: Which of the following causes of breakage is covered under plate glass insurance policy 20: Which of the following is NOT covered under neon sign insurance policy

d)
a) b) c) d) a) b) c) d)

21: which of the following covers in householders package insurance is NOT included in shopkeepers package insurance personal baggage television fixed plate glass legal liability to third parties fixed plate glass neon sign pedal cycles legal liability to employees a) b) c) d) a) b) c) d) money and office contents securities and office contents only office contents money and securities trading losses payment of raised cheque dishonesty of the employee of the bank with respect to loss of money loss of securities by fire (a) (d) (b) (b)

22: Which of the following covers in shopkeepers package insurance is not included in householders package insurance

23: Under bankers blanket policies ----- are covered

24: Which of the following are NOT covered under bankers blanket policies

25: Which of the following are NOT covered under bankers blanket policies a) fraud of insureds employees in respect of goods hypothecated to the insured b) payment of forged cheques c) loss due to faulty computer programming d) loss of securities by burglary a) registered parcel post (C) 26: Under which of the following modes of transit jewellary is covered on all risks basis under jewellers block policy

45
b) c) d) basis a) b) c) d) on premises in transit by air freight in transit by angadia in the custody of brokers (a) air freight through angadia all the above (d)

27: Under jewelers block policy which of the following property is covered against specified risks only not on all risks

CHAPTER a) b) c) d) a) b) c) d) a) b) c) d) earthquake flood riot and strike theft (d)

14

1:Which of the following risks is excluded under cattle policy

2: Which of the following is NOT an exclusion under cattle policy theft of the animal clandestine sale of the animal transport by air surgical operations riot and strike surgical operations famine permanent total disability (d) (d)

3: Which of the following is covered by extra premium under cattle policy

4: Under cattle policy, the claim is not payable for death due to disease occurring within ------ days of the commencement of the risk a) 7 days a) b) c) d) b) 15 days c) 21 days d) 30 days (b) 5: Which of the following is covered under sheep and goat insurance indigenous animals cross- breed animals exotic animals all the above (d)

6: Which of the following is true in relation to sheep and goat insurance 1: indemnity is provided on the basis of sum insured or market value whichever is less 2: salvage value is deducted from claim amount payable a) 1 is true a) b) c) d) b) 2 is true c) both are true d) both are false (a) 7: For which of the following features, no discount is granted for premium rates for poultry insurances farms in rural areas farms having resident veterinary doctor farms having dead bird disposal system farms having standard layout (a)

8: Which of the following statements is true

46
1: elephants used for commercial purposes are covered 2: elephants used for religious purposes are covered a) 1 is true b) 2 is true a) b) c) d) a) grapes a) rubber a) b) c) c) both are true d) both are false (C) 9: Under dog insurance which of the following risks can be covered at extra premium death by accidental poisioning loss by theft third party liability all the above b) oranges b) coffee c) papaya (d) d) bananas (C) (b)

10: For which of the following crops horticulture policy is NOT available 11: For which of the following crops plantation(inputs) policy is NOT available c)tea d) sugarcane 12: Under agricultural pump set policy which of the following risks is covered at extra premium mechanical breakdown electrical breakdown flood burglary (C)

d)
a) b) c) d) a) b) c) d)

13: Which of the following risks is excluded under salt works insurance policy storm and cyclone flood unseasonal rain none tuberculosis leprosy cancer none (d) (d)

14: Which of the following diseases is excluded under hospitalization section of tribal package insurance

15: Under IRDA regulations every insurer shall underwrite business in the rural sector to the extent of at least -----% of the total gross premium in the first financial year a) 1 % b) 2 % c) 3% d) 4% (b)

CHAPTER a) b) c) d) a) b) c) d) personal accident cattle third party(injury) all the above actual total loss of ship constructive total loss of ship particular average general average (d) (d)

15

1: Which of the following claims have to be supported by independent medical report

2: In which of the following claims the report of average adjusters is necessary

3: which of the following is true as per the arbitration condition in fire and most miscellaneous policies

47
1:All differences in respect of a claim are to be referred to arbitration 2: differences regarding amount of claim only to be paid are to be referred to arbitration a) 1 is true b) 2 is true c) both are true d) both are false (b) 4: In respect of goods insured under marine cargo policy which are safely landed but subsequently missing, the responsibility for the loss lies with a) b) c) d) shipping company railways road carriers port trust authorities (d)