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Your Result Mock Test 04

Result Pass
No of Questions 25
Question Attempted 25

Total Marks 25
Your Marks 15

Percentage Obtained 60%

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~ DETAILED RESULT ~

Q (1):  Under fire policy sum insured is Rs.1, 00,000/-, loss is Rs.60, 000/-, value of property at time of
proposal Rs.1,50,000/-.value of property at the time of loss Rs.2, 00,000. What is the amount of loss payable?

1. a) Rs.40,000/-
 (Your answer is incorrect)

2. b) Rs.30,000/-
 (This is the correct answer)

3. c) Nil
 

4. d) Rs. 60,000/-
 

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Q (2):  Which of the following is an example of contributory hazards?

1. a) Electrical
 

2. b) Smoking
 (Your answer is incorrect)

3. c) Construction
 (This is the correct answer)

4. d) Friction
 

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Q (3):  Which of the following statement is true?

1. a) Flood and; Tsunami both are covered under STFI

 

2. b) Tsunami is covered under EQ extension when STFI cover is not deleted
 (This is the correct answer)

3. c) All natural calamities are covered under standard fire and special peril policy
 (Your answer is incorrect)
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4. d) None of the above
 

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Q (4):  A fire policy on residence attracts an excess of

1. a) Rs. 10,000
 

2. b) Rs. 20,000
 

3. c) Rs. 5,000

 (Your answer is incorrect)

4. d) Nil
 (This is the correct answer)

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Q (5):  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 ____ months of the date of disclaimer.

1. a) 6 months
 (Your answer is incorrect)

2. b) 12 months
 (This is the correct answer)

3. c) 24 months
 

4. d) 36 months
 

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Q (6):  Which of the following refers to the merchand ise (articles and commodities) which are held for sale in
retail shops or in wholesale establishments, factories?

1. a) Raw materials
 

2. b) Stock-in-process
 

3. c) Finished goods

 (Your answer is incorrect)

4. d) Stock-in-trade
 (This is the correct answer)

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Q (7):  Which of the following statements is True? 1. The sum insured under consequential loss (fire) policy
should be equal to gross profits of the Indemnity Period selected. 2. The sum insured should be equal to the
net profits of the Indemnity period selected. G O TO A L L M O C K T E S T L I S T
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1. a) 1 is true
 (Your answer is correct)

2. b) 2 is true
 

3. c) Both are true

 

4. d) Both are false

 

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Q (8):  The insurance does not cease to attach if:

1. a) Trade or manufacturing activity is changed

 

2. b) Insurance interest changes by will

 (This is the correct answer)

3. c) Remains un-occupied for more than 30 days

 

4. d) All of the above

 (Your answer is incorrect)

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Q (9):  Stand ard fire and special perils policy does not cover:

1. a) Lightning
 

2. b) Forest fire

 (Your answer is correct)

3. c) Impact damage
 

4. d) Subsidence and landslide

 

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Q (10):  Following add on covers are not available in stand ard Fire Special Perils Policy

1. a) Spontaneous combustion
 

2. b) Loss of rent clause

 

3. c) Start up expenses
 

4. d) None of the above

 (Your answer is correct)

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Q (11):  Which of the following is true as per fire policy

1. a) Loss to bullion or unset precious stones of any value is excluded

 

2. b) Loss to Computer system records are excluded

 

3. c) Damage to stocks in cold storage premises due to change in temperature is excluded

 

4. d) All are true

 (Your answer is correct)

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Q (12):  Regarding Removal of Debris Clause which is true

1. a) The maximum S.I limit is 10% of the Total Sum Insured

 

2. b) Policy rates are charged

 

3. c) Shoring or propping up is relevant only when building/machinery is covered.

 

4. d) All are true

 (Your answer is correct)

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Q (13):  Q13) Which of the peril is not covered under stand ard Fire Policy?

1. a) RSMD
 (Your answer is incorrect)

2. b) STFI
 

3. c) EARTHQUAKE
 (This is the correct answer)

4. d) IMPACT DAMAGE
 

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Q (14):  Fire Material damage policy does not cover

1. a) Furniture and; Fixtures

 

2. b) Stock
 

3. c) Standing Charges

 (Your answer is correct)

4. d) Stock in process
 

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Q (15):  Under Stand ard Fire and special perils policy debris removal upto 1% of the SI can be covered at an
additional premium of

1. a) 15%
 

2. b) 10%
 (Your answer is incorrect)

3. c) 5%
 

4. d) Nil
 (This is the correct answer)

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Q (16):  Which of the following is an example of bad housekeeping?

1. a) Segregation of hazardous processes and hazardous goods

 

2. b) Separate storage of oils, paints, and petrol

 

3. c) Regular maintenance of building, electrical installation, plant and machinery and fire extinguishing appliances
 

4. d) The presence of defective windows, trap doors

 (Your answer is correct)

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Q (17):  _________ refers to the superior qualities of the replaced machinery such as increased output,
reduced consumption of power and lower costs of maintenance.

1. a) Salvage value
 

2. b) Betterment
 (Your answer is correct)

3. c) Depreciation
 

4. d) Deterioration
 

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Q (18):  Sum insured (provisional) under fire declaration policy is Rs.100, 00,000/-, rate of premium is Re.(1)
00 per mile .average sum insured is Rs.50, 00,000. The refund premium is

1. a) Rs.5,000/-
 (Your answer is correct)

2. b) Rs.6,000/-
 

3. c) Rs.10,000/-
 
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Q (19):  Fire policies can be issued for a period of more than 12 months in the following case

1. a) Shops
 

2. b) Factory
 

3. c) Dwelling
 (Your answer is correct)

4. d) Godown
 

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Q (20):  Terrorism Cover under fire policy can be granted upto

1. a) Rs.200 Crore
 

2. b) Rs.300 Crore
 

3. c) Rs.500 Crore

 (Your answer is correct)

4. d) Rs.600 Crore
 

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Q (21):  Sum insured on Reinstatement value policy should show

1. a) Cost of rebuilding the subject matter on date of loss

 (Your answer is correct)

2. b) Cost of reinstatement of subject matter at time of taking policy

 

3. c) Cost of rebuilding subject matter less depreciation on age on date of loss

 

4. d) None of the above

 

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Q (22):  Loss by theft is covered under fire policy after occurrence of which of the following perils?

1. a) Earthquake / flood
 

2. b) Fire
 (Your answer is incorrect)

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3. c) Riot strike and malicious damage
 (This is the correct answer)

4. d) None of the above

 

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Q (23):  Replacement Cost is paid for the property by the insurer underwhich policy?

1. a) Declaration Policy
 

2. b) Reinstatement Value Policy

 (Your answer is correct)

3. c) Floating Policy
 

4. d) Consequential Loss Policy

 

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Q (24):  The essentials of Fire are

1. a) Fuel and; Oxygen

 

2. b) Fuel and CO2 and Ignition

 

3. c) Fuel, Nitrogen and Spark

 

4. d) Fuel, Oxygen and Source of ignition

 (Your answer is correct)

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Q (25):  Loss or damage to property caused by sprinkler leakage is covered under Fire Policy if leakage is
caused by

1. a) Heat due to fire

 (Your answer is correct)

2. b) Leakage due to repair or alteration to the building or premises

 

3. c) Loss or damage to property caused by sprinkler installation

 

4. d) Sprinkler installation by either repaired or --- or extended.

 

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