IC60 MARINE CARGO INSURANCE UNDERWRITING – 03

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Que. 1 : Q1) In which cause in case of damage affecting
labels, capsules, or wrappers, the insurers, if liable therefor under the terms
of the policy, shall not be liable for more than the amount sufficient to pay
the cost of new labels, capsules and cost of reconditioning the goods, but in
no event shall the insurers be liable for more than the insured value of the
damaged merchandise?

   1.  a) Institute Cargo Clause

   2.  b) Labels Clause

   3.  c) Brands Clause

   4.  d) Airfreight Replacement Clause

Que. 2 : Q2) Under which features of high-risk cargo, the
underwriter needs to add warranties in their policy for supervision of loading,
lashing and unloading of cargo apart from insisting on suitability of the
carrying conveyance?

   1.  a) Over-dimensional cargo

   2.  b) Perishable Cargo

   3.  c) Customised Cargo

   4.  d) None of these

Que. 3 : Q3) How many prominent IRDA regulations which are
applicable to Marine Insurance?

   1.  a) One

   2.  b) Two

   3.  c) Three

   4.  d) Four

Que. 4 : Q4) Which of the following marine cargo policy is
not assignable

   1.  a) Marine cargo specific policy

   2.  b) Certificate issued under open cover

   3.  c) Certificate issued under open policy

   4.  d) Annual policy

Que. 5 : Q5) Which clause states that “In
no case shall this insurance cover loss, damage or expense arising from the
absence, shortage or withholding of labour of any description whatsoever
resulting from any strike, lock-out, labour disturbance, riot of civil
commotion?

   1.  a) Clause 3.7

   2.  b) Clause 3.8

   3.  c) Clause 3.9

   4.  d) Clause 4.0

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