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The form will be autosubmitted at end of 60 minutes after page open/refresh. For each of the following multiple choice questions, choose the most appropriate answer : 1. A District Forum under the Consumer Protection Act can entertain a complaint where the compensation claimed is less than : A. 10 lakhs B. 20 lakhs C. 30 lakhs D. 50 lakhs 2. 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 Rs15,000/- ? A. Rs15,000/ B. Rs5,000/- C. Rs25,000/- D. Nil 3. A discount in premium is allowed to a family comprising the insured and A. spouse B. dependent children C. dependent parents D. All these 4. 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 Rs5,000/- ? A. Rs10,000 B. Rs15,000 C. Rs5,000 D. Nil 5. 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 6. After discharge from the vessel at the final port of discharge, the cover under the Transit Clause of ICC terminates on the expiry of : A. 15 days B. 30 days C. 45 days D. 60 days 7. After receipt of survey report, Insurer shall offer a settlement of claim to the insured within a period of : A. 15 days B. 30 days C. 45 days D. 60 days 8. After receipt of the survey report, rejection of claim by the insurer shall be communicated to the insured within a period of : A. 15 days B. 30 days C. 45 days D. 60 days 9. After the date of order, an appeal against the order of the National Commission can be made within a period of : A. 30 days B. 45 days C. 60 days D. 90 days 10. After withdrawal of Tariffs w.e.f. 01 January, 2007, insurers 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. workmen's compensation insurance 11. Agreed Value policies are issued for : A. marine cargo B. marine hull C. marine cargo and hull D. fire insurance on high valued machinery 12. An insurance agent licence has been cancelled by the designated person. When can he apply again for fresh licence? A. After 3 years B. After 4 years C. After 5 years D. After 6 years 13. An insured cannot recover more than his actual loss because of : A. under-insurance B. excess clause C. principle of indemnity D. franchise clause 14. Annual amount of gross profit is Rs1,20,000. Calculate the sum insured under Consequential loss (fire) policy for an Indemnity Period of 24 months : A. Rs60,000 B. Rs90,000 C. Rs1,20,000 D. Rs2,40,000 15. Annual gross profit is Rs1,20,000/-. Calculate the sum insured under Consequential loss (fire) policy for a period of 9 months : A. Rs60,000/- B. Rs90,000/ C. Rs1,20,000/- D. Rs1,80,000/- 16. As per Code of Conduct, what is the ceiling % of the total premium, a corporate agent can procure in his portfolio, of insurance business from one organization? A. 20% B. 30% C. 40% D. 50% 17. As per General Insurance (Nationalisation) 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 18. As per IRDA Regulations Surveyor shall submit, the survey report to the insurer within : A. 15 days of his appointment B. 30 days of his appointment C. 45 days of his appointment D. 60 days of his appointment 19. As per IRDA Regulations which of the following is not a function of Third Party Administrators? A. collection of premium B. collection of claims documents C. claims scrutiny and processing D. claims payment 20. As per IRDA Regulations, after receipt of claim intimation from the insured a Surveyor has to be appointed within : A. 24 hours B. 72 hours C. 7 days D. 15 days 21. As per IRDA Regulations, the remuneration to the microinsurance agent for non-life insurance business shall not exceed : A. 5% of premium B. 10% of premium C. 15% of premium D. 20% of premium 22. As per IRDA regulations, maximum brokerage or commission that can be paid by insurers in rrespect of policy through agents or brokers is: A. 10% B. 15% C. 20% D. 30% 23. As per Mediclaim policy: A. Expenses on hospitalisation for a minimum period of 24 hours are admissible. B. This time limit is not applied if the insured is discharged the same day after specific treatment e.g. Dialysis. C. Both these D. Neither of these 24. As per fire policy condition on the happening of a loss : A. Insurers have a right to take possession of the premises where the loss has occurred B. the insured can abandan the damaged property to the insurers C. Both are true D. Both are false 25. As per the Code of Conduct, the agent must inform promptly the prospect about: A. the acceptance of the proposal by the insurer B. the rejection of the proposal by the insurer C. Both are true D. Both are false 26. 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 27. 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. Rs15,000 B. Rs20,000 C. Rs25,000 D. Rs50,000 28. Bonus (discount) and Malus (loading of premium) applies under Personal Accident insurance under : A. individual policies B. group policies C. both individual and group policies D. neither individual nor group policies 29. Certificates of insurance are issued in: A. marine hull insurance B. marine cargo insurance C. engineering insurance D. workmen's compensation insurance 30. Claim under Maternity Extension in respect of any one insured person is payable only for A. first child B. first two children C. first three children D. first four children 31. Consent of insurers is not required for the assignment of : A. marine hull policies B. marine cargo policies C. fire policies D. burglary policies 32. Constructive total loss in motor insurance arises when : A. the vehicle is stolen B. the vehicle is a total wreck C. the vehicle is beyond repairs D. the cost of repair exceeds 75% of Insured Declared Value 33. Consumer Protection Act applies to : A. private sector B. public sector C. cooperative sector D. All these 34. Corporate Frequent Travellers policy is granted to : A. Officials of companies registered under the Companies Act. B. Partners of registered firms. C. Both are true D. Both are false 35. Deductible under package policies applies to : A. motorized two wheelers B. private cars C. goods vehicles D. all three vehicles 36. Differences as to the claim or quantum thereof are to be referred to : A. arbitration as per policy conditions B. committee set up by CPAA and the insurance company C. Both are true D. Both are false 37. Domiciliary hospitalization benefit does not include: A. Pre-hospitalisation treatment B. Post-hospitalisation treatment C. Both are true D. Both are false 38. Escalation clause added to the fire policy allows automatic regular increase in sum insured throughout the period of the policy, not exceeding : A. 5% B. 10% C. 25% D. 50% 39. Extra charges in Cargo claims refer to : A. landing charges B. reconditioning charges C. warehousing charges D. survey fees 40. 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 these 41. Fire Consequential loss policy pays the insured : A. net profit B. standing charges C. increased cost of working D. all the above three 42. Fire Reinstatement value policy is granted on : A. Buildings and machinery B. Stocks C. Both Statements are not correct D. Both Statements are correct 43. Fire reinstatement value policy is not issued in respect of : A. building B. plant C. machinery D. stock 44. For each completed year of policy in force prior to claim, the sum insured under CPAA Cancer policy, is increased by : A. 5% B. 10% C. 15% D. 20% 45. For which of the following Professional indemnities, 'per capita' premium in addition to basic rate is not provided? A. Medical establishments B. Doctors C. Chartered Accountants D. Solicitors 46. For which of the following crops horticulture policy is not available? A. Grapes B. Oranges C. Papaya D. Bananas 47. For which of the following crops, Plantation (Inputs) policy is not available? A. Rubber B. Coffee+ C. Tea D. Sugarcane 48. For which of the following features, no discount is granted for premium rates for Poultry insurance? A. Farms in rural areas B. Farms having resident veterinary doctor C. Farms having dead bird disposal system D. Farms having standard layout 49. For which of the following, Special declaration Policy is not issued? A. Rail despatches B. Road despatches C. Inland waterways despatches D. Export/import shipments 50. For which of the following, full capital sum insured is not payable under Personal Accident policy? A. Permanent Total Disablement B. Permanent Partial Disablement C. Loss of two limbs D. Loss of one limb and one eye | |