FOREIGN TRADE UNIVERSITY FINAL EXAM QUESTIONS

HCMC CAMPUS TMA308M

FACULTY OF PRACTICE
_________________________
PAPER NO.: 1
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Semester: 2 Academic year: 2018 – 2019
Full-time/Part-time: Full-time
Class code: ML195, ML196
Form of Exam: Written/ Multiple choice
Duration: 60 minutes (excluding paper distribution time)

SECTION A. MULTIPLE CHOICE

Question 1 (0.25 marks): 20,000 MT of rice with insurance value of $200,000USD, were insured with
insurance amount of $50,000. Partial loss of rice was $100,000 by insurable risks. How much would the
insured be indemnified?
A. 50,000USD C. 100.000 USD
B. 25,000USD D. None of the above
Question 2 (0.25 marks): Deductibles for hull marine insurance is applied when the ship stops operating
at least:
A. 60 WWDSHEX C. 30 weather working days
B. 30 working days D. None of the above
Question 3 (0.25 marks): Fire and explosion insurance in Vietnam is ruled by: (Circulation
No.220/2010/TT-BTC / Decree No.79/2014/ND-CP Law on Fire safety and firefighting)
A. Decree 220/CP- BTC C. Insurance Law 2010
B. Circular No.222/2010/TT-BTC D. None of the above
Question 4 (0.25 marks): One of the exclusion of Fire and explosion Insurance is “Lightning directly on
the insured assets without causing any..................................
A. Fire and explosion C. Explosion
B. None of the above D. Fire
Question 5 (0.25 marks):Loss and damage of “Money, precious metals, gemstones, securities, letters of
guarantee, documents, scripts, business books, computer files, diplomas, molds, drawings or blueprints,
unless those items are certified in the insurance certificate” is …………………….of fire and explosion
insurance
A. Exclusion C. Extra insurable risk
B. Insurable risk B. none of the above
Question 6 (0.25 marks): In fire and explosion insurance, in case that the subjects of insurance are the
commodity (the original material, semi-perfect product, perfect product), the sum covered by insurance
is calculated in ............................. in accordance with the proclamation.
A. Cash C. order
B. Book D. none of the above
Question 7 (0.25 marks): In fire and explosion insurance, the sum covered by insurance is the value
which is determined in money on ............................... of the possession participating the compulsory
fire and explosion insurance at the insurance participation time
A. the contract price C. the market price

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 B. none of the above D. the accounting book price
Question 8 (0.25 marks): The P&I insurance is …………………………to ship-owner operating world
wide in international maritime
A. compulsory C. optional
B. subject D. none of the above
Question 9 (0.25 marks): Piracy is insurable if the shipper insured his cargo with:
A. C-ICC 1982 C. B- ICC 1982
B. War Clause- ICC 1982 D. A- ICC 1982
Question 10 (0.25 marks): A shipment of cargo by sea was insured with insurance amount of $50,000.
At the port of destination, as waiting for the berth, the vessel was anchored out of the port. At the time of
waiting, vessel was burned and all cargoes were lost at actual total loss. How much will the shipper be
indemnified by the insurer?
A. 50,000USD C. 55,000USD
B. 50,000USD+ firefighting cost D. No indemnity as waiting is an exclusion
Question 11 (0.25 marks): When the importer imports cargo under FOB term of Incoterms 2010, he
has to insure his cargo with:
A. No requirement C. B- ICC 2009
B. War Clause- ICC 1982 D. A- ICC 1982
Question 12 (0.25 marks): TLO is one of the institute time clause of:
A. ICC 1982 C. ICC 1963
B. ITCH 1995 (-> TLO, FOD, FPA, AR) D. ICC 2009
Question 13 (0.25 marks): It took 1.5 months for a vessel departing from Vietnam to Russia. The
vessel transited in Suez after 15 days, then lost track from Suez. How long would this vessel be
considered to be missing under UK Maritime Law? (French: 12m; VN: voyage*3 > 3m => tính từ khi
báo missing)
A. 3 months C. 6 months
B. 4.5 months (1.5m x3; tính từ lúc bắt đầu trip) D. 2 months
Question 14 (0.25 marks): Clause B in hull aviation insurance does not cover:
A. Actual total loss C. Cargoes exceeding aircraft’s deadweight
B. Constructive total loss D. None of the above
Question 15 (0.25 marks): The forecasting technique which relies on the inputs of many experts
gathered anonymously (independent experts’ judgments method) is named
A. SWOT analysis C. Delphi method
B. cause-and-effect diagram D. None of the above
Question 16 (0.25 marks): Aviation liability insurance for passengers covers:
A. Third party’s loss and damage C. B and D
B. Passenger’s death and injury D. Loss and damage of passengers’ luggage
Question 17 (0.25 marks): P& I insurance covers:
A. Liability for personal injury or loss of life,
B. Liability for loss caused by cargo or bunkers after grounding or striking against ice
C. Other loss suffered by passengers or crew on the insured ship
D. All of the above
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Question 18 (0.25 marks): In the trip from Vietnam to India, the Vessel (A= 20,000,000USD) carrying
cargoes of Vinafood 1 (1mil), Vinafood 2(2mil) and Namviet (2 mil). Freight prepaid is 500,000 USD. In
the storm, cargo of Vinafood 2 got wet, total loss of 300,000USD. The Master decided to throw cargo of
Namviet into the sea, total loss of 500,000 USD, then speed up the engine to be fast back to the port of
destination. He declared GA and asked consignees to pay GA bond. The contribution of Vinafood 2 is:
( 500,000/(20mil+1mil+1.7mil+2mil) * 1.7mil = 34,412.95 USD)
A. 10,500 USD C. No contribution
B. 4,500 USD D. None of the above
Question 19 (0.25 marks): When the ship-owner insured his vessel with 3/4 collision liability at P&I
Club, he will be indemnified by hull insurer and P&I insurer up to:
A. 3/4 collision liability C. 7/4 collision liability
B. 4/4 collision liability D. None of the above
Question 20 (0.25 marks): The insured could get the indemnity that is more than the insurance value of
subject matter insured when:
A. Co-insurance (nhiều insurer, but not > V) C. A>V
B. None of the above D. Reinsurance
SECTION B. WRITTEN/CASE STUDY
Question 1 (1 marks): Both to blame Collision and responsibility of related insurers?
CASE STUDY
A company in Vietnam imported milk powder from Australia with price of 800USD/MT CFR Cat Lai,
Incoterms 2010. During the trip, the vessel collided into an iceberg, water got into the vessel and 25%
of cargo got wet as result of sea water. The vessel was broken with a hole (the vessel was repaired later
at port of destination with cost of 500,000USD). In order to stop sea water enter from the hole, the
shipmaster decided to use cargo 500,000USD to fix the hole then throw cargo into the sea to run faster,
together with speeding up the engine. Then, he declared General Average. At the port of destination,
shipmaster asked shipper to pay bond for this G/A.
More information: Insurance value of vessel is $10 mil. Total cargo is 500,000 packages (50kg/p).
Freight is $28/MT FIO, prepaid (I=O=S=T= 1USD/MT). R= 1%. Repair cost of engine is
$100,000.Total cargo of jettison is 5,000 packages.
Question 2 (2 marks): Calculate this G/A and contribution of each party.
Question 3 (1 marks): How much would the insurer indemnify the shipper if the Vietnamese shipper
insured his cargo with B clause, QTC 1990?
Question 4 (1 marks): How much would the insurer indemnify the ship-owner if the vessel was
insured with All Risks clause ITCH 1995?

--------------------------------------End of test--------------------------------------
Note: - This paper contains 20 questions from Section A, 4 questions from Section B, 3 pages.
- Students are not allowed to use any material during the examination; must return the exam
paper.
- Invigilators shall not provide further explanation.
APPROVAL LECTURER
COURSE DIRECTOR (signature, full name)
(or DEAN/VICE DEAN OF THE FACULTY)

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 (signature, full name)

FOREIGN TRADE UNIVERSITY FINAL EXAM KEYS & MARKING

HCMC CAMPUS SCHEME
FACULTY OF PRACTICE TMA308M
_________________________ __________________________________

Semester: 2 Academic year: 2018 – 2019

PAPER NO.: 01 Full-time/Part-time: Full time
Class code: ML195, ML196
Form of Exam: Written/ Multiple Choice

SECTION A. MULTIPLE CHOICE

Question Answer Mark
1 B 0.25
2 D 0.25
3 D 0.25
4 D 0.25
5 A 0.25
6 A 0.25
7 C 0.25
8 A 0.25
9 D 0.25
10 A 0.25
11 A 0.25
12 B 0.25
13 B 0.25
14 C 0.25
15 C 0.25
16 C 0.25
17 D 0.25
18 D 0.25
19 B 0.25
20 B 0.25
Total: 20 questions 5/10 marks
SECTION B. WRITTEN/CASE STUDY
Question Content Mark
Question1 : Both to blame Collision and responsibility of related 1,0
insurers
Answer:
Item 1: Both to blame Collision Clause content (draw) 0.25
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Item 2: Responsibility of cargo insurer 0.25

Item 3: Responsibility of hull insurer 0.25

Item 3: Responsibility of P& I insurer 0.25

2 Question: Calculate the G/A and contribution of each party 2,0
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 Answer:
Item 1: Calculate the value of General Average 1,0
Item 2: Calculate the value of rescue 0.5
Item 3: Calculate the contribution of each parties 0.5

……

3 Question: Calculate the indemnity of cargo insurer 1.0

Answer: Culculate the indemnity payment of cargo insurer 1.0
4 Question: Calculate the indemnity of hull insurer 1.0
Answer: Culculate the indemnity payment of hull marine insurer 1.0
Total: 4 questions 5 /10 marks

APPROVAL LECTURER
COURSE DIRECTOR (signature, full name)
(or DEAN/VICE DEAN OF THE FACULTY)
(signature, full name)

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 MULTIPLE CHOICE ANSWER SHEET
TMA308M – ML195,ML196
__________________________________
_____________________________________________________

SECTION A. MULTIPLE Full name: CHOICE Grade (in number):

Invigilator 1’s a cross in
Please put the chosen answer. There is only one correct answer
……………………………………………… for each question
………………..
signature
QUESTION Date
A of birth:
B …………………….………….
C D QUESTION A B C D
Student ID: ……………………….………… Grade (in words):
1 11
……………….. Class code: ………………………………… ………………..
Invigilator 2’s2 Module: …………………………..………… 12
signature Examiner 1’s signature
3 Examination date: ….…………….…………
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Examination time: …………….…………… ………………..
4 14
……………….. Paper No.: …………………………………..
5 15 Examiner 2’s signature

6 16 ………………..
7 17
8 18
9 19
10 20

SECTION B. WRITTEN/CASE STUDY

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