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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. For which of.the following diseases, medical certificate from a consulting physician is required to be submitted along with the proposal form? A. Diabetes B. Hypertension C. Coronary insufficiency D. All the above 2. Gross Profit, in the context of consequential loss (fire) policy means : A. Turnover minus variable and standing charges B. Net profit and cost of production C. Net profit and standing charges D. Net profit and variable charges 3. Group Personal Accident cover is arranged to cover only accidents to employees arising out of and in the course of employment. Reduced premium equivalent to how many % of the normal premium is charged? A. 50% B. 60% C. 75% D. 80% 4. How much is the amount of claim payable, if sum insured is Rs 2 lakhs, the 'excess' limit is Rs20,000 and the loss is Rs25,000/-. A. Rs20,000 B. Rs25,000 C. Rs15,000 D. Rs5000 5. IRDA Advertisement Regulations apply to : A. insurance companies B. insurance brokers C. insurance agents D. All these 6. If a warranty is breached the Policy becomes:- A. void B. voidable C. invalid D. unenforceable in a Court of Law 7. If group Personal Accident policy cover is required when the employee is not at work and/or not on official duty i.e. "off-duty" cover, the reduced premium of how much % of the normal premium is charged? A. 40% B. 50% C. 60% D. 75% 8. 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 : A. 6 months from the date of disclaimer B. 12 months from the date of disclaimer C. 24 months from the date of disclaimer D. 36 months from the date of disclaimer 9. If the Insured is found to have contracted a critical illness, claim under the Critical Illness policy is payable during the policy period, if the insured survives such critical illness for : A. 15 days from the date of its discovery B. 30 days from the date of its discovery C. 45 days from the date of its discovery D. 60 days from the date of its discovery 10. 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 11. If there is no insurable interest the insurance becomes A. unenforceable in a Court of Law B. illegal C. void D. voidable 12. In matters of servicing under the policy, after receipt of communication from policyholders, an insurer shall respond within : A. 3 days B. 7 days C. 10 days D. 15 days 13. 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 Vehicles Act 14. In relation to Cancer Patients Aid Association policy : A. The premium is payable to CPAA as part of the membership fee. B. Claims are paid by CPAA. C. Both are true D. Both are false 15. In respect of goods insured under marine cargo policy which are safely landed but subsequently missing, the responsibility for the loss lies with: A. shipping company B. railways C. road carriers D. Port trust authorities 16. In respect of motor third party insurance : A. No commission is payable B. No brokerage is payable C. Both are true D. Both are false 17. In the event of death of sole insured under a motor policy the policy will remain valid until the expiry of the policy, subject to the maximum period of : A. 3 months B. 6 months C. 9 months D. 12 months 18. In the insurance context 'risk' means A. possibility of loss or damage B. loss producing event C. property covered by insurance D. All the above 19. In which of the following claims, the report of Average Adjusters is necessary? A. Actual total loss of ship B. Constructive total loss of ship C. Particular average D. General average 20. 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 21. In which of the following clauses of the 'Scheduled'form of Policy reference is made to the sum insured or limit of liability? A. recital clause B. Operative clause C. signature clause D. Warranties clause 22. In which of the following insurances the principle of indemnity is modified? A. Public Liability B. Fidelity Guarantee C. Marine Cargo D. Baggage Insurance 23. 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 24. In which of the following professional indemnities there is no provision for voluntary excess? A. Architects B. Chartered Accountants C. Medical establishments D. Doctors 25. In which of the following professions, professional negligence may result in financial loss to the client? A. Doctors B. Diagnostic centrers C. Medical establishments D. Chartered Accountants 26. Insurable Interest is not always required at the time of taking the policy of: A. fire insurance B. marine hull insurance C. marine cargo insurance D. burglary insurance 27. 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 28. Insured's Declared Value of obsolete vehicles is to be determined by : A. the surveyor B. the insured C. the insurer D. the insured and insurer 29. Liability only Motor policy covers liability for damage to: A. property of third party . B. property belonging to Insured C. property held in trust by the Insured D. property in the custody of the Insured 30. Liability under Workmen's Compensation Act is to be compulsorily insured in respect of: A. workers carried in a goods vehicle B. workers carried in a public service vehicle C. Both these D. Neither of these 31. Malicious Damage is automatically covered under : A. ICC(A) clauses B. ICC(B) clauses C. ICC(C) clauses D. None of these 32. Mediclaim insurance is available to persons between the ages of : A. 2 years and 70 years B. 2 years and 75 years C. 4 years and 80 years D. 5 years and 80 years 33. 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 these 34. Micro-insurance product under IRDA Regulations means : A. a health insurance contract B. a personal accident contract C. a livestock insurance contract D. All these 35. Motor 'No-fault' liability claims are decided by : A. Lok Adalat B. Lok Nyayalaya C. Civil Court D. Motor Accident Claims Tribunal 36. Motor third party premium shall be shared among all the general insurers writing motor insurance business in proporfion to gross direct premium in : A. Motor insurance business B. All classes of general insurance business C. Both are true D. Both are false 37. No claim is payable under CPAA policy if, from the date of becoming a member of CPAA, the insured contracts cancer within a period of : A. 15 days B. 30 days C. 45 days D. 60 days 38. No complaints to the Ombudsman shall be valid : 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 39. 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 of these 40. Normal rates of premium apply for cargo carried in vessels approved by following classification societies : A. Lloyd's Register of Shipping B. American Bureau of Shipping C. Indian Register of Shipping D. All these 41. Of the following which is an optional cover under Industrial All Risks policy? A. Machinery Breakdown policy B. Electronic Equipment policy C. Business Interruption (Machinery Breakdown) D. Business Interruption (Fire & Special Perils) 42. On acceptance of offer of settlement by the insured, insurer shall make the payment within : A. 7 days B. 10 days C. 15 days D. 30 days 43. Out of 400 houses, each valued at Rs20,000, 4 houses get burnt every year on an average resulting in a loss of Rs80,000. What should be the annual contribution of each house owner to make good this loss. A. Rs100/- B. Rs200/- C. Rs80/- D. Rs400/- 44. Out of the following documents for 'Own Damage' motor claims, which one which is additionally required for commercial vehicle (goods carrier) claims? A. Registration Certificate book B. Permit C. Driving licence D. Police Report 45. Overseas Medical Policy can be granted to Indian Resident undertaking bona fide trips for the following purposes : A. Business B. Official C. Holiday D. All the above purposes 46. Personal Accident cover for owner-driver under Liability only Motor Policy applies only if the : A. Owner-driver is the registered owner of the insured vehicle. B. Owner-driver is the insured named in the policy. C. Owner-driver holds an effective licence. D. All these 47. 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 48. Rate of premium is based on A. degree of hazard B. variations in degree of hazard C. past loss experience D. All the above 49. Relevant medical expense, incurred during the period of how many days, after hospitalization are treated as part of the claim? A. 15 days B. 30 days C. 45 days D. 60 days 50. Relevant medical expenses incurred during the period of how many days prior to hospitalization are treated as part of the claim? A. 15 days B. 30 days C. 45 days D. 60 days | |