IC60 MARINE CARGO INSURANCE UNDERWRITING – 14

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Que. 1 : Q1) Which of the following are exclusions of
Institute Cargo Clauses?

   1.  a) Loss damage or expense attributable
to wilful misconduct of the Assured

   2.  b) Ordinary leakage, ordinary loss in
weight or volume, or ordinary wear and tear of the subject-matter insured

   3.  c) Loss damaged or expense caused by
inherent vice or nature of the subject-matter insured

   4.  d) All of the above

Que. 2 : Q2) Insurance of ships, yachts, barges, tugs and
other floating equipment during maritime operations against the loss of or
damage to the hull and machinery is covered under _________.

   1.  a) Marine Cargo insurance

   2.  b) Marine Hull Insurance

   3.  c) Marine Dsu

   4.  d) Marine Liabilities

Que. 3 : Q3) What has always been a very important feature
in rating a cargo risk and the physical condition of this is a reflection of
its age and everything deteriorates with age and usage and the same is true for
vessels also?

   1.  a) The vessel

   2.  b) Voyage of transit

   3.  c) Type of packing

   4.  d) Type of insurance cover

Que. 4 : Q4) When The Institute of London Underwriters(ILU)
and London Insurance and Reinsurance Market Association(LIRMA) were merged to
create The International Underwriting Association of London(IUA) ?

   1.  a) December 1985

   2.  b) December 1990

   3.  c) December 1994

   4.  d) December 1998

Que. 5 : Q5) Which of the following is true regards excess
of loss marine reinsurance agreement?

   1.  a) Reinsurer pays excess of an ultimate
net loss

   2.  b) Reinsurer bears entire in case it
exceeds an ultimate net loss

   3.  c) Reinsurer does not pay anything in
case the loss exceeds a specified limit

   4.  d) Reinsurer pays a fixed amount irrespective of the size of loss

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