Que. 1 : Q1) If the vessel has sailed but premium was not
paid in advance, then the Insurance Company

   1.  a) Can give the coverage by accepting
the premium

   2.  b) Can refuse the coverage

   3.  c) Can provide coverage on Ex Gratia

   4.  d) All of the above

Que. 2 : Q2) The word ___________ means the loss must be
caused by some event occurring outside of the property insured and Natural
deterioration of the property itself or a loss caused by something inherent to
the product is usually not covered unless specifically insured.

   1.  a) Physical

   2.  b) External

   3.  c) Fortuitous

   4.  d) None of these

Que. 3 : Q3) What refers to the free space left in the tanks
after loading liquids in bulk?

   1.  a) Handling

   2.  b) Ullage

   3.  c) Draft survey

   4.  d) Documentation

Que. 4 : Q4) If a ship ‘missing’ , section 58 of the Act
provides that if no news has been received after the lapse of a reasonable
period, than :

   1.  a) The ship is presumed to be an actual
total loss

   2.  b) The cargo on board is deemed to be an
actual total loss

   3.  c) Both the above are presumed to be an
actual total loss

   4.  d) Neither ship, nor cargo are presumed
to be an actual total loss

Que. 5 : Q5) Which from of GA expenditure that is commonly
encountered is ‘salvage’ paid to their party for services rendered to a vessel
and her cargo in time of distress?

   1.  a) Extraordinary

   2.  b) Port of Refuge expenses

   3.  c) Common Maritime Adventure

   4.  d) Salvage paid for services


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