RE: General Question asked by Natonal Insurance co for fire & Engg surveyor

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Pukhraj Singh

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Dec 16, 2015, 9:46:01 AM12/16/15

to VINEET RANJAN Srivastava, insurance surveyors, insurance...@googlegroups.com, iiisla-technical-group

Dear Vineet ji

I appreciate the gesture.

Regards

Pukhraj Singh

SCF 40, Phase 9, Mohali-160062 (Near Chandigarh)

Cellphone 98-1400-1375,   9779-234-234
Office     9855-733-833
Mail   singhp...@hotmail.com,

Date: Mon, 14 Dec 2015 11:52:24 +0530
Subject: General Question asked by Natonal Insurance co for fire & Engg surveyor
From: vineetr...@gmail.com
To: insurance-su...@googlegroups.com; insurance...@googlegroups.com; iiisla-tech...@googlegroups.com

Pls go through , we have also answer sheet will share

FIRE & ENGG : QUESTIONS

1 Standby machinery in MBD is

(a) Not covered

(b) Covered at a discount of 50% in premium rate

(d) Only covered when it is put to use

2 Issue of Fire declaration policy is not possible for

(a) Raw material

(b) Finished goods

(d) None of the above

3 The maximum possible refund of premium under a fire declaration policy is

(a) 60%

(b) 50%

(d) 30%

4 A fire policy on residence attracts an excess of

(a) Rs. 10,000

(b) Rs. 20,000

(d) Nil

5 Standard Fire Policy contains the following number of conditions

(a) 13

(b) 14

(d) 16

6 Which one of the following is a mega risk?

(a) A petroleum refinery with sum insured Rs 3000 cr

(b) An organization having 25 different location with overall SI of Rs2500 cr

(d) A fertilizer plant with SI of Rs 600 cr

7 It is not the duty of the insured in the event of a claim under a fire policy to

(a) Save as much as possible of the insured property

(b) Take all reasonable steps to extinguish the fire

(d) Diminish their loss

8 Fire Business is underwritten on the basis of

(a) Long tail liability

(b) Loss Reserve

(d) Probable Maximum Loss

9 In a fire floater policy the minimum sum insured at one location should not be less than

(a) 50%

(b) 25%

(d) None of the above

10 A dish antenna(Covered under fire policy) breaks as a monkey jumps on it

(a) The claim is payable

(b) The claim is not payable

(d) Some other insurance should have been taken

11 The FLOP policy covers

(a) Loss of profit due to reduction in turnover during indemnity period

(b) Loss of profit during the financial year

(d) None of the above

12 Declaration policy can be issued

(a) For short period

(b) Stocks undergoing process

(d) Fluctuation in stock

13 Silent risk under fire policy in manufacturing premises are treated as silent risk when?

(a) The factory is closed for 1 week continuously

(b) The factory is closed for 15 days continuously

(d) None of the above

14 Loss or damage to property caused by sprinkler leakage is covered under Fire Policy if leakage is caused by

(a) Heat due to fire

(b) Leakage due to repair or alteration to the building premises

(d) Sprinkler installation by either repaired or extended

15 Sum Insured on Reinstatement value policy should show

(a) Cost or rebuilding the subject matter on date of loss

(b) Cost of reinstatement of subject matter at time of taking policy

(d) None of the above

16 The advanced loss of profit policy covers

(a) Loss of projected profit due to interruption of project by an insured peril

(b) Loss of turnover after the commencement of project

(d) Due to insolvency

17 Loss due to flood on account of Tsunami is covered only when

(a) STFI cover is not deleted

(b) Add on cover EQ is opted

(d) (a) & (b) above

18 Following Add on covers are not available in standard fire Special Perils Policy

(a) Spontaneous combustion

(b) Loss of rent clause

(d) None of the above

19 Industrial All Risk policy allows under insurance up to

(a) 15% of Sum Insured

(b) 20% of Sum Insured

(d) Underinsurance to be computed as per fire tariff

20 For covering marine portion under an MCE policy you would require information

(a) S.I. for Inland transit

(b) S.I. for overseas transit

(d) None of the above

21 Long term Fire Policy can be issued for dwellings

(a) For minimum period of 2 years

(b) For minimum period of 3 years

(d) None of the above

22 Material damage proviso under the consequential loss (Fire) Insurance means

(a) Claims admissible under standard Fire and Special Perils Policy

(b) Occurrence of the loss

(d) Loss of goodwill

23 Declaration Policy has minimum SI of

(a) Rs. 5 Crores

(b) Rs. 10 Crores

(d) Rs. 0.50 crore

24 If the insured proposes to get add on cover for STFI during the middle of the policy

(a) The same cannot be covered

(b) The same can be covered

(d) Covered with a waiting period of 30 days

25 Which will be treated as Hazardous goods under Fire and special perils policy?

(a) Methylated spirits

(b) Common salt

(d) Sugar

26 In an LOP policy, Auditor fees is

(a) An Extension

(b) A built in cover

(d) Not to be covered

27 In consequential Loss(Fire) Insurance policy, the sum insured is arrived at by

(a) All standing charges plus net profit

(b) Specified standing charges plus net profit

(d) None of the above

28 Project Policies are

(a) All Risk

(b) Named Perils

(d) Agreed value

29 For a RIV Policy the insured has to give his concurrence for settlement at market value basis

(a) On day of loss

(b) Within 12 months from date of loss

(d) Not at all

30 Ultra sound machines can be covered under

(a) Machinery Breakdown Policy

(b) Electronic Equipment Policy

(d) None of (a) & (b)

31 which of the following is not applicable in a RIV policy

(a) Designation of property

(b) Under insurance

(d) Salvage value

32 Minimum SI for floater declaration policy

(a) Rs. 5 Crores

(b) Rs. 10 Crores

(d) Rs. 2 Crores

33 Stock is divided into how many categories for spontaneous combustion cover

(a) 3

(b) 4

(d) 6

34 Reinstatement value policy can be issued for

(a) Stock in process

(b) Building

(d) None of the above

35 FOES is an extension under:

(a) CPM Policy

(b) CAR Policy

(d) MBO Policy

36 Which of the following risks is not considered as add on cover?

(a) Spontaneous combustion

(b) Lightning

(d) Startup expenses

25 Which will be treated as Hazardous goods under Fire and special perils policy?

(a) Methylated spirits

(b) Common salt

(d) Sugar

26 In an LOP policy, Auditor fees is

(a) An Extension

(b) A built in cover

(d) Not to be covered

27 In consequential Loss(Fire) Insurance policy, the sum insured is arrived at by

(a) All standing charges plus net profit

(b) Specified standing charges plus net profit

(d) None of the above

28 Project Policies are

(a) All Risk

(b) Named Perils

(d) Agreed value

29 For a RIV Policy the insured has to give his concurrence for settlement at market value basis

(a) On day of loss

(b) Within 12 months from date of loss

(d) Not at all

30 Ultra sound machines can be covered under

(a) Machinery Breakdown Policy

(b) Electronic Equipment Policy

(d) None of (a) & (b)

31 which of the following is not applicable in a RIV policy

(a) Designation of property

(b) Under insurance

(d) Salvage value

32 Minimum SI for floater declaration policy

(a) Rs. 5 Crores

(b) Rs. 10 Crores

(d) Rs. 2 Crores

33 Stock is divided into how many categories for spontaneous combustion cover

(a) 3

(b) 4

(d) 6

34 Reinstatement value policy can be issued for

(a) Stock in process

(b) Building

(d) None of the above

35 FOES is an extension under:

(a) CPM Policy

(b) CAR Policy

(d) MBO Policy

36 Which of the following risks is not considered as add on cover?

(a) Spontaneous combustion

(b) Lightning

(d) Startup expenses

37 Cracks appearing in a building on account of subsidence of land below

(a) Fire Policy will cover the loss without any extension

(b) Claim is payable on repair basis

(d) Fire policy would have covered the claim had an extension been taken.

38 The material damage proviso under FLOP policy states that

(a) Loss under LOP is admitted only after there is a loss under the fire material damage policy

(b) The loss of profit policy is independent from the fire material damage policy

(d) None of the above

39 DSU stands for

(a) Delay in start up

(b) Derivatives stock units

(d) Diluted stock undertaking

40 Which of the following losses is not covered under fire insurance policy?

(a) Process losses

(b) Impact Damage

(d) Aircraft damage

41 Percentage of obligatory cession to GIC in 2013-14

(a) 10

(b) 20

(d) 5

42 What is meant by spontaneous combustion?

(a) Charring due to self heating

(b) Spread of fire

(d) Loss or damage due to fire caused by own fermentation or natural heating

43 Storage of Hazardous chemical upto 5% of value at risk

(a) Does not affect a claim

(b) Renders a claim non-standard

(d) Can be covered after collection of extra premium

44 The adjustment of sum insured in EAR policy is not done in respect of

(a) Freight and Handling charges

(b) Custom duties

(d) Increase or decrease in cost of contractors’ plant and machinery

45 Standard Fire Policy doesn’t cover

(a) Fire

(b) Spontaneous combustion

(d) Aircraft damage

46 Reinstatement value policy can be given to

(a) Stocks

(b) Building, Plant & machinery

(d) All the above

47 Indemnification for stocks in Fire policy is based on

(a) Invoice value

(b) Market value or cost whichever is less

(d) Book value

48 Common utilities outside the premises can be

(a) Rated per se

(b) Rated as per the main risk

(d) Insured separately

49 Subsidence and landslide loss covers

(a) Coastal and River Erosion

(b) Visible physical damage to property

(d) Demolition by government authority

50 Fire policy covers

(a) 12 named perils

(b) Unnamed peril policy

(d) None of the above

51 The gross profit insured under FLOP policy would cover

(a) Net Profit

(b) Standing Charges

(d) None of the above

52 Terrorism cover under fire policy can be granted on First loss limit up to

(a) Rs. 200 crore

(b) Rs. 300 crore

(d) Rs. 1000 crore

53 Fire at supplier’s premises can be a part of

(a) Material Damage Fire policy

(b) An LOP policy

(d) Has no relevance

54 Co-Insurance in Fire Policies pertains to

(a) SI distributed over no. of locations

(b) Policy shared amongst various insurers

(d) Insured opting for an higher excess

55 Preliminary investigation of loss under Fire Policy includes

(a) Whether the loss is caused by an insured peril

(b) Whether the damaged is covered under the policy

(d) All of the above

56 A machine worth Rs. 40,000/- insured for Rs. 30,000/- under Fire Policy. It was damaged due to fire and the amount assessed in Rs. 16,000/- . The claim amount payable is:

(a) Rs. 30,000/-

(b) Rs. 12,000/-

(d) Rs. 40,000/-

57 In Fire LOP policies, indemnity period means

(a) Specified policy period

(b) Specified interruption period opted

(d) None of the above

58 Rating under Petrochemical tariff is based on

(a) Material factor of the raw materials and hold up capacity

(b) Pressure and temperature

(d) Both 1 & 2 above

59 Which of the following statements is incorrect under fire policy subject to agreed bank clause?

(a) Material change in risk does not affect the interest of the Banker

(b) Valued policies can be issued whose mkt. value cannot be ascertained

(d) Insurable interest does not automatically pass onto the legal heir

60 Which one of the following could not be the basis of valuation of Fire insurance

(a) Market value basis

(b) RIV basis

(d) Original cost basis

61 Under Std. Fire & special perils policy debris removal upto 1% of the SI can be covered at an additional premium of

(a) 15%

(b) 10%

(d) Nil

62 Please indicate which of the following statements is true

(a) Tsunami is automatically covered in SFSP Policy

(b) All Fire policies are agreed value policies

(d) None of the above

63 Standard Fire policy covers

(a) Loss due to explosion of boiler

(b) Loss due to explosion of domestic boiler

(d) None of the above

64 CPM is

(a) Coverage all risk policy with inclusion of breakdown

(b) All risk policy with exclusion of breakdown

(d) None of the above

65 Ex-gratia settlement in fire policies are

(a) Under Insurance

(b) Loss outside the ambit of the policy

(d) Subrogation

66 As per AIFT how many earthquake zones are available?

(a) 3

(b) 4

(d) 6

67 Basis of settlement in Fire policy can be

(a) Market value basis only

(b) Reinstatement value basis only

(d) None of the above

68 Fire policies can be issued for a period of more than 12 months in the following case

(a) Shops

(b) Factory

(d) Godown

69 Which one of the considerations are not taken into account for processing fire claims

(a) Condition of average

(b) Breach of warranty

(d) Distance from fire station

70 The basis rate under Fire LOP policy is based on

(a) The average rate of the process blocks under the Fire policy

(b) The average rate of all blocks under Fire policy

(d) None of the above

71 Unless specified, Fire insurance policy covers works of Art up to a limit of

(a) Rs. 10,000

(b) Rs. 15,000

(d) None

72 A D.G. set covered under SFSP Policy removed to repairer’s workshop for repairs caught fire on 73rd day of such removal. The loss under the said SFSP policy will be

(a) Payable

(b) Payable as a non-standard claim

(d) Either of a or b

73 Insurance period for Storage cum Erection policy is

(a) 1 Year

(b) 6 months prior to the final erection

(d) Period of contract

74 Silent risks rates are applicable only for risks ratable under:

(a) Section I

(b) Section II

(d) Section VIII

75 In CAR policy, which of the following is not covered?

(a) Theft

(b) Fire

(d) secession of work

76 Which one of the following statement is incorrect?

(a) IAR policy is an All risks policy with named exclusions

(b) IAR policy provides for compulsory FLOP cover

(d) IAR policy provides for compulsory MI cover

77 Cancellation at the option of insured the premium retained by one of the following

method

(a) Short period scale

(b) Pro-rata basis

(d) No refund of premium

78 Compulsory excess and A.O.G. excess are not applicable to fire policy issued to following properties

(a) Power Plant

(b) Cloth Shop

(d) Dwellings

79 In Erection All Risk insurance liability of the insurers commence from

(a) The time of loading the machinery at the port of loading

(b) The time of unloading the machinery at the port of discharge

(d) The time of machinery leaves the warehouse of the supplier

80 Machinery Insurance does not cover

(a) Internal fires

(b) Breakage of parts due to entry of foreign object

(d) All of the above

81 Under EEI policies, AMC in force covering the equipment will help in

(a) charging less loading in the premium rates

(b) better loss prevention and loss minimization

(d) all the above

82 CAR policy is issued covering the interest of

(a) Contractors

(b) Principals

(d) Contractors and Principals

83 Excess in Fire policy as per erstwile fire tariff is

(a) Same amount of excess for fire peril & AOG peril

(b) Different amount of excess for fire perils & AOG peril

(d) None of the above

84 Time Excess under MLOP policy is

(a) Three days

(b) Fourteen days

(d) None

85 The word CONDITION OFAVERAGE is associated with

(a) Subrogation

(b) Contribution

(d) Re-insurance

86 Which one of the following is not underwritten in Engg. Dept.

(a) CAR

(b) EAR

(d) CECR

87 The Fire Policy covers the following perils except one on payment of additional premium

(a) Landslide

(b) Architects etc. Feels

(d) Forest fire

88 Additional expenses for Air freight for reinstatement of damaged property, under CAR policies is

(a) Part of standard cover

(b) To be insured as a separate item

(d) A free Add-on cover

89 Following Peril is not covered under Machinery Breakdown Insurance policy

(a) Loss or Damage due to Electrical Short Circuit

(b) Loss or Damage due to Defective Lubricant or Coolant

(d) Loss or Damage due to Human Error

90 In Engineering insurance, which is a correct representation of ‘One Time’ policy and ‘Period’ policy respectively. Select the best one from the following

(a) CAR policy and EEI policy

(b) MBD policy and MCE policy

(d) CPM policy and Boiler policy

91 The fundamental objective of Risk Management is

(a) preservation of assets and its earning power from loss or destruction

(b) loss prevention and loss minimization

(d) transfer of pure risks for a cheap cost of insurance

92 PML stands for

(a) Probable Maximum Loss

(b) Probable Minimum Loss

(d) Possible Maximum Loss

93 Standard fire and special perils policy does not cover

(a) Lightning

(b) Forest fire

(d) Subsidence and landslide

94 Machinery insurance policy shall be issued

(a) on agreed value basis

(b) on reinstatement value basis

(d) on written down value basis

95 Under a machinery insurance policy, loss or damage to insured machinery, whilst being dismantled for overhauling or cleaning is

(a) not covered

(b) Covered

(d) a standard exclusion

96 In EEI policies EDP equipments can be covered for Comprehensive package cover. EDP in the above statement stands for

(a) Electronic digital processing

(b) Electronic data processing

(d) Electronic digital processors

97 STFI peril can be deleted from Standard Fire Policy

(a) At inception only

(b) within 3 months from the issuance of policy

(d) Cannot be deleted at all

98 Delay in Start Up (DSU) policy is .. (Select the best answer from the following that fits the correct picture about the above policy)

(a) an indemnity for cost escalation on account of Accidental Damage to project materials

(b) issued to manufacturing unit to cover the rebooting expenses following operation of an insured peril

(d) intended to cover the loss of market for delay in a new product launch by a FMCG maker.

99 Which policy is not issued for a period of more than 12 months

(a) CAR

(b) MCE

(d) CPM

100 Fire declaration policy cannot be issued for the one of the following items

(a) Stock

(b) Stock in process

(d) Finished goods

101 Indemnification of Total loss claims under EEI policy is implemented by adopting

(a) Market value of damaged equipment

(b) Purchase price of damaged equipment

(d) Replacement value or Sum insured whichever is lower of the damage equipment

102 The force which causes the current to flow through circuit is known as

(a) Electro-magnetic Force (EMF)

(b) Watt

(d) None of the above

103 Long term Fire policy can be issued for dwellings for a maximum period of

(a) 5 years

(b) 2 years

(d) None of above

104 In project insurance… the checking of parts, elements and/or production lines of the insured property under full or partial load and normal or stimulated operating conditions is called

(a) Cold testing

(b) Hot testing

(d) Commissioning

105 Which of the following is not an add on cover under a project policy

(a) Surrounding property

(b) Third party liability

(d) Debris of uninsured property

106 Rates for 5 months short period insurance

(a) 40%

(b) 50%

(d) 70%

107 IAR Policy is subject to maximum deductible of

(a) Rs. 50,00,000

(b) Rs. 25,00,000

(d) None of above

108 A CAR policy can be issued where civil work in a project is more than

(a) 60%

(b) 50%

(d) 25%

109 An Engineering Policy can be issued to cover

(a) Moveable equipment

(b) Portable equipment

(d) None of above

110 Peril is

(a) A cause of loss

(b) A degree of loss

(d) None of the above

111 Which equipment cannot be covered under EEI policy

(a) Personal Computer

(b) Laptop

(d) MRI Scanner Equipments

112 Terrorism pool is managed by

(a) Head office of companies

(b) Reinsurance committee

(d) IRDA

113 Reinstatement of sum insured to the extent of loss paid in CAR policies is

(a) Compulsory

(b) Optional

(d) Optional Add-on cover

114 How many classified group of machineries available under CPM policy?

(a) Seven

(b) Five

(d) Three

115 A claim is reported under an IAR Policy. It is found that the property was under insured to the extent of 17.5%. Payable amount will be

(a) Assessed loss less 2.5%

(b) Assessed loss less 17.5%

(d) Assessed loss

116 Which of the following peril is not wind related

(a) Storm

(b) Inundation

(d) Hurricane

117 Which of the following machines constitute declined risk for machinery insurance

(a) Stone crushers

(b) DG sets

(d) Oil Expellers

118 M/s. John & Co. takes Business Interruption Insurance (Fire)) policy with an Indemnity period of 24 months. Normally premium is collected

(a) In 6 equal installments

(b) In installments, first installment should be more than 5%, next of the installments and last installments to be paid six months prior to 24 months period.

(d) In 12 equal installments

119 In which of the following testing is an inbuilt cover

(a) CAR

(b) CECR

(d) MBD

120 In Electronic Equipment Insurance policy, ‘External Data Media’ can be covered under

(a) Section 1

(b) Section 1 A

(d) Section 3

121 Excess is not applicable is case of

(a) EAR policy

(b) EEI policy

(d) MBD policy

122 Under EAR policy “Cold Testing” means

(a) Plant is situated at cold place

(b) Checking of parts under cold condition

(d) Testing of parts under full load conditions

123 “HOT Testing” under EAR policy means

(a) Plant is situated at hot place

(b) Checking of parts under hot condition

(d) Testing of parts under full load conditions

124 Which insurance policy protects contractors, projects, bridges etc

(a) Engineering

(b) Fire

(d) Marine

125 In Deterioration of Stocks (DOS) other than potatoes insurance policy, which is not an exclusion, among the following

(a) Fire, lightning, chemical explosion

(b) Storm, Tempest, Earthquake, Inundation

(d) TP claims for poisoning as a result of eating contaminated goods

126 In EAR policy

(a) Prime Cost of materials is subject to premium adjustment

(b) Freight and handling charges, customs dues and construction cost is not subject to premium adjustment

(d) None of the above is correct

127 Machinery Insurance Policy provides insurance protection of against mechanical & electrical breakdown and also human errors & negligence

(a) Electrical & Electrical Machines while at work

(b) All machines & tools except electronic machines while at work

(d) All rotating and static equipment while at work or at rest including human error and negligence

128 CAR policies are not subject to premium adjustment clause which provides for sum insured adjustment on completion of construction, on the basis of actual values in respect of

(a) Increase/decrease in the prime cost of material

(b) Increase/decrease in construction cost, freight, customs duty etc.

(d) Increase/decrease in values due to change in Government regulations only

129 Maximum permissible escalation under an EAR policy is

(a) 25%

(b) 50%

(d) None

130 In the event of a claim under FIRE Policy

(a) Sum Insured is reduced by the amount of claim

(b) Sum Insured is reduced by amount intimated

(d) None

131 All movable/portable electronic equipments can now be covered under standard EEI policy

(a) with 30% loading

(b) with 20% loading

(d) with 10% loading

132 “Without prejudice” means

(a) Proof of admission of liability

(b) Proof of non-admission of liability

(d) None of the above

133 While assessing an LOP claim, Annual Turnover is used to determine

(a) Reduction in Turnover

(b) Increase in cost of working

(d) Saving in insured standing charges

134 Under Electronic equipment policy there is no coverage available for

(a) System software

(b) Application software

(d) Increased cost of working

135 “Ejusdem generics” rule means

(a) Of different kind

(b) Of same kind

(d) Both of the above

136 The sum insured at any one location for issuing Mega risk policy is

(a) Rs. 5000 crores

(b) Rs. 10000 crores

(d) None of the above amount

137 Sum Insured under Erection All risk policy can adjusted on completion of project either by collection or refund of premium except

(a) Freight & handling Charges of plant and Machinery

(b) Prime cost of Machinery

(d) Customs dues

138 In EAR policy rating the key factors are P. Risk Classification Q. Project period R. Testing period S. Estimated completed project cost. Out of the above which key factor is more important for rating

(a) P & Q

(b) Q & R

(d) P, Q, R & S

139 “Works contracts” is an important document for Contactor’s All Risk Insurance. This document helps in

(a) Defining the job award to the contractor

(b) Understanding the responsilibilities of the Principal and the Contractor to arrange different type of insurances for the project property, people invloved and TP liabilities relating to project work.

(d) Recording the contract work description correctly on the CAR policy

140 CECR (policy) stands for

(a) Civil Engineering contractors’ risk insurance

(b) Civil Engineering completed risks insurance

(d) None of the above

141 The one of the peril not covered under the basic fire policy

(a) Damage by smoke and heat of the fire

(b) Damage caused deliberately or accidentally by fire-brigades in the discharge of their duties

(d) Destruction or damage to property insured by its own fermentation or spontaneous combustion

142 Name of the policy under which operation of several occurrences will also constitute a single claim

(a) FLOP

(b) ALOP

(d) MLOP

143 Under Engineering Project Insurance, the maximum percentage of escalation that can be chosen by the insured is

(a) 25% of the Sum insured

(b) 25% of the reinstatement value

(d) 50% of the sum insured

144 How many numbers of deductibles (policy excess) are applicable in CAR policies (other than Terrorism cover excess)

(a) One

(b) Two

(d) Four

145 Material Damage (MD) proviso of LOP policy states a. A MD policy covering physical damage must exist b. The MD policy should cover loss to raw mat’l c. LOP policy can be issued only for industrial/manufacturing risks d. A MD claim should be admissible under the material damage policy

(a) Statements 1 and 2 are correct

(b) Statements 1 and 3 are correct

(d) Statements 1 and 4 are correct

146 If a policy is cancelled at the option of insured

(a) Premium adjustment is made on pro-rata basis

(b) Premium cannot be refunded

(d) Policy cannot be cancelled by the insured

147 Which of the following is excluded under Electronic Equipment policy

(a) Theft

(b) Consequential Loss

(d) Fire

148 Which of the following perils form part of the basic package of standard fire and special perils policy

(a) Earthquake

(b) STFI

(d) Leakage & Contamination

149 Fire Material damage policy does not cover

(a) Furniture & Fixtures

(b) Stock

(d) Stock in process

150 Material damage section of IAR Policy having S.I. more than Rs.100 cr. but up to Rs. 1500 cr. is subject to deductible of

(a) 5% of claim amount minimum Rs. 10 lacs

(b) 5% of claim amount maximum Rs. 10 lacs

(d) 5% of claim amount minimum Rs. 5 lacs, maximum Rs. 50 lacs

151 F.E.A. stands for

(a) Fire Eliminating Application

(b) Fire Extinguishing Appliances

(d) Fire Equipments Allowance

152 Which of the statement given below is most relevant in case of engineering operational policies and Business Interruption policies

(a) In case mid term increase in sum insured, the premium chargeable is on pro-rata basis for the unexpired policy period.

(b) In case mid term increase in sum insured, the premium chargeable is on short period basis for the unexpired policy period

(c) In case mid term increase in sum insured and renewed with the same or enhanced sum insured with same insured then refund on premium arising out of difference between short period and pro-rata premium is made.

(d) In case mid term increase in sum insured and renewed with the same insurer then refund on premium arising out of difference between short period and pro-rata premium is made

153 In MI policy, basis of indemnification for total loss/constructive total loss is

(a) New replacement value plus cost of removing the damaged machinery less value of salvage

(b) New replacement value

(d) Market value

154 Selection of sum insured under Fire policy

(a) Can be allowed

(b) Can be allowed only after charging short period premium rate

(d) None of the above

155 Machinery Insurance Policy guidelines provides for

(a) insurance of selected machinery

(b) insurance of specified parts of selected machines

(d) insurance of depreciated value method og partial loss settlements

156 When electronic equipment is insured under both EEI policy and Standard Fire and Special Perils policy with Earthquake cover included, the discount permissible under EEI policy is

(a) 5% of the applicable EEI rate

(b) 10% of applicable EEI rate

(d) 20% of the applicable EEI rate

157 In MI policy, Sum Insured represents

(a) Current market value

(b) New Replacement value

(d) New Replacement value including transportation cost to site, customs dues and all installation costs

158 A claim towards Architects, Surveyors and Consulting Engineers Fees as an Add on cover under SFSP policy can be paid up to maximum of

(a) 5% of adjusted loss

(b) 5% of Sum Insured

(d) 7.5% of adjusted loss

159 An Advance Loss of Profit policy indemnifies the Principal or the project owner for loss of revenue arising out of delay in completion of project due to

(a) other contractor’s delay which is not in the scope of the policy holder.

(b) delay in receipt of project consignment due to accident during transit period

(d) Speculative or trade risks which relates to political, social or economic reasons or shortcomings in the management

160 An Engineering policy which is not an annual policy

(a) Contractors’ Plant & Machinery policy

(b) Contractors’ All Risks Policy

(d) BPP Insurance Policy

161 In MCE policies the marine cover granted is subject to Institute Cargo Clauses i.e.

(a) ICC ‘A’

(b) ICC ‘B’

(d) as per option of insured

162 The term ‘Time Excess’ is applicable to

(a) LOP

(b) MBD

(d) CPM

163 Which of the following policy normally cover lift cranes, Material handling plant and equipment in the construction and project sites

(a) Contractor Plant & Machinery

(b) Contractor All Risk

(d) Erection All Risk

164 Complete pricing decontrol was made effective from

(a) 01st Sept. 2007

(b) 01st Nov. 2007

(d) 01st Apr. 2008

165 IAR Policy does not cover

(a) Plant and Machinery in open

(b) Vehicles registered for general road use

(d) Movement of materials within the premises

166 Losses on account of faulty design, faulty materials or faults in manufacturing or assembling electronic equipments (manufacturing defects) are under EEI policy

(a) not covered under Section 1 of the policy

(b) covered under Section 1 of the policy

(d) Annual maintenance contract will take care of it hence need not be covered.

167 Exclusion K of CPM policy relates to

(a) Machinery working under ground

(b) War Perils

(d) Transit risks between sites

168 Certain discount may be given in electric equipment policy, if the same property is covered under Fire Policy

(a) 5%

(b) 10%

(d) 50%

169 Which of the following policy normally covers lift cranes, Material handling plant and equipment in the construction and project sites

(a) Contractor Plant & Machinery

(b) Contractor All Risk

(d) Erection All Risk

170 Construction Plant and Machinery is

(a) to be compulsorily insured under a CPM policy

(b) Insurable as a separate item in CAR policy

(d) To be insured under Machinery Insurance policy only

171 Fire Policy does not cover

(a) RSDMD

(b) Electrical/ Mechanical Breakdown

(d) AOG peril

172 Boiler and Pressure Plant (BPP) policy has minimum deductible

(a) Rs. 10,000

(b) 5% of claim amount

(d) No deductible is applicable

173 What is the major difference in the scope of cover between EAR policy and CAR policy

(a) Faulty design

(b) Premium adjustment clause (on project completion)

(d) Maintenance and Extensions

174 The basis of loss settlement in partial loss claims under CAR policy is

(a) Actual value of property before loss occurrence minus salvage value

(b) Prorata value, on daily basis, of the value of property on completion of construction upto the date of loss minus salvage value.

(d) Actual value of proeprty before loss occurrence

175 Which of the following is operational phase policy and not construction phase policy under engineering insurance

(a) Contractors All Risk

(b) Electronic Equipment

(d) Marine-cum-Erection

176 Annual Gross profit means

(a) Net profits plus standing charges

(b) Turnover minus variable cost

(d) Both of ‘c’ and ‘d’

177 Which of the following is not an exclusion under Contractors All Risk Insurance Policy

(a) The first amount of the loss arising out of each and every occurrence shown as Excess the Schedule;

(b) Loss/damage during erection of plant and machinery;

(c) Normal wear and tear, gradual deterioration due to atmospheric conditions or lack of use or obsolescence or otherwise, rust, scratching of painted or polished surfaces or breakage of glass;

(d) Loss or damage due to faulty design

178 Sum insured of Contractors All Risk policy is complete estimated erected value inclusive

(a) Custom duties

(b) Wages

(d) All of the above

179 Mobile construction equipments can be covered under

(a) Motor Policy

(b) CAR Policy

(d) Both (a) & (c)

180 Sum Insured under Escalation clause in Fire policies is automatically increased

(a) Instantly

(b) On daily basis

(d) Quarterly

181 “Wet Risk” refer to

(a) Hydro Electric plants

(b) Coffer Dams

(d) Contract works involving construction in and adjoining water, river, lakes, sea etc.

182 Identify among the following which is not a fire fighting tool in a project site.

(a) Hydrants

(b) Sprinklers

(d) Smoke detector

183 FEA discount can be granted by one of the following methods. Choose the correct one

(a) Mere installation of FEA

(b) Inspection of company engineers/accredited engineers/ agencies by IRDA

(d) None of the above

184 Standard fire policy covers which one of the following perils

(a) Forest fire

(b) Earthquake

(d) Tsunami

185 Insurers are permitted to delete Impact damage cover from SFSP Policy

(a) By allowing additional discount in premium

(b) Without allowing a discount in premium

(d) None of the above

186 Machinery used for handling materials or constructions are covered under

(a) Fire Policy

(b) Contractors all Risk Policy

(d) Machinery Breakdown Policy

187 In a EAR policy an indigenous made compressor covered under the policy got damaged while being shifted from storage yard to site of erection within the campus. New value of the compressor is Rs.1crore. Repair/replacement cost of parts Rs 50 Lacs. Salvage value of damaged parts Rs 2 lacs. Policy excess is Rs 1 lac during storage erection and Rs 5 lacs during testing. Excess is Rs 10 lacs for act of god perils. In case of no underinsurance Insurance company will settle the loss for

(a) Rs 48 Lacs

(b) Rs 47 Lacs

(d) Rs 43 Lacs

188 Which of the following is not a standing charge for LOP/ ALOP

(a) Insurance premium

(b) Advertisement & publicity

(d) Raw material cost

189 An insured takes fire insurance for building and contents and a machinery breakdown insurance policy for machineries. A short circuit in one of the switch boards results in a spark in the air conditioner which results in a fire damaging furniture in the room apart from the air conditioner. There is a valid claim under

(a) Fire policy only

(b) Machinery breakdown policy only

(d) None of the policies

190 Designation of property clause relates to

(a) Machinery Insurance

(b) Fire Insurance

(d) BPP Insurance

191 Explosion though a general exception under the policy, but certain occurrences ‘which fall within the term “explosion” are covered under

(a) Marine cum erection policy

(b) Contractor Plant & Machinery

(d) Machinery Insurance Policy

192 Exgratia settlements are made by

(a) Claim settlement authority

(b) One step above

(d) Board of Directors

193 Machinery Loss of Profits Policy (MLOP) does not provide indemnity against which one of the following

(a) Loss of net profit

(b) Insured standing charges

(d) Civil engineering works

194 Machinery Breakdown loss of profits (MLOP) policy has compulsory time excess of

(a) 14 days

(b) 21 days

(d) No time excess is applicable

195 Local Authorities clause under Fire policy is applicable under

(a) Declaration policy

(b) Standard Fire policy

(d) Floater Declaration policy

196 IRDA has not permitted General Insurers to effect

(a) Variations in deductibles

(b) Issuance of IAR policy for S.I. less than Rs.100 crs.

(d) Issuance of IAR policy for petrochemical risks

197 AOG peril does not include

(a) Terrorism

(b) Earthquake

(d) Inundation

198 Machinery Loss of Profits Policy (MLOP) does not provide indemnity against which one of the following

(a) Loss of net profit

(b) Insured standing charges

(d) Civil engineering works

199 Machinery Breakdown loss of profits (MLOP) policy has compulsory time excess of

(a) 14 days

(b) 21 days

(d) No time excess is applicable

200 Local Authorities clause under Fire policy is applicable under

(a) Declaration policy

(b) Standard Fire policy

(d) Floater Declaration policy

201 IRDA has not permitted General Insurers to effect

(a) Variations in deductibles

(b) Issuance of IAR policy for S.I. less than Rs.100 crs.

(d) Issuance of IAR policy for petrochemical risks

202 AOG peril does not include

(a) Terrorism

(b) Earthquake

(d) Inundation

Vineet Ranjan Srivastava

Lloyd Surveyor & Loss Assessor

9839025070

7860025070

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VINEET RANJAN Srivastava

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Dec 16, 2015, 9:46:03 AM12/16/15

to Sanjeev Agrawal, insurance...@googlegroups.com, insurance surveyors, iiisla-technical-group

Sanjeev ji if availability is there so I also want to attend. Pls confirm if any possibility
Thanks
Vineet Ranjan Srivastava
Lucknow

On 14-Dec-2015 18:27, "VINEET RANJAN Srivastava" <vineetr...@gmail.com> wrote:

Thanks for appreciation , I will post the answer sheet , but it's I find we all are attending training and seminars but no one focus in small and objectives which should be keep updated ourselves
After that I have sufficient material of Marine deptt also ,if all are willing can post post for perusal
Thanks
Vineet Ranjan Srivastava
F/N/1222

On 14-Dec-2015 18:16, "Sanjeev Agrawal" <sanje...@gmail.com> wrote:
I will be highly obliged if you immediately send the answer sheet either on group or on my personal ID i.e. sanje...@yahoo.com. Since it is a wonderful document and I am going to put it as partial study material in our Jabalpur training programme going to be held on 19/20-12-2015.

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VINEET RANJAN Srivastava

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Dec 16, 2015, 9:46:03 AM12/16/15

to insurance surveyors, insurance...@googlegroups.com, iiisla-technical-group

Dear All members

Pls find answer sheet of Fire & Engg, my next question sheet for marine & Aviation also

Ans from Question 1 to 120

Question No.	Answer	Question No.	Answer	Question No.	Answer	Question No.	Answer
1	B	31	C	61	D	91	A
2	C	32	D	62	D	92	A
3	B	33	B	63	B	93	B
4	D	34	B	64	B	94	B
5	C	35	C	65	B	95	B
6	A	36	B	66	B	96	B
7	D	37	A	67	C	97	A
8	D	38	A	68	C	98	A
9	D	39	A	69	D	99	D
10	B	40	A	70	A	100	B
11	A	41	D	71	A	101	D
12	D	42	D	72	C	102	A
13	C	43	A	73	D	103	D
14	A	44	D	74	C	104	B
15	A	45	B	75	D	105	D
16	B	46	B	76	C	106	C
17	D	47	B	77	A	107	C
18	D	48	A	78	D	108	B
19	A	49	B	79	C	109	A
20	C	50	A	80	C	110	A
21	B	51	C	81	D	111	B
22	A	52	D	82	D	112	C
23	C	53	B	83	B	113	A
24	C	54	B	84	B	114	B
25	A	55	D	85	C	115	B
26	A	56	B	86	C	116	B
27	B	57	B	87	D	117	A
28	A	58	D	88	C	118	C
29	D	59	D	89	C	119	C
30	B	60	C	90	A	120	C

VINEET RANJAN Srivastava

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Dec 16, 2015, 9:46:03 AM12/16/15

to insurance surveyors, insurance...@googlegroups.com, iiisla-technical-group

On Mon, Dec 14, 2015 at 7:34 PM, VINEET RANJAN Srivastava <vineetr...@gmail.com> wrote:

Ans Sheet from 121 to 202

121

C

144

C

167

A

190

B

122

C

145

D

168

A

191

A

123

C

146

C

169

A

192

D

124

A

147

B

170

B

193

D

125

D

148

B

171

B

194

A

126

C

149

C

172

D

195

C

127

D

150

A

173

C

196

C

128

A

151

B

174

C

197

A

129

B

152

D

175

B

198

D

130

A

153

C

176

D

199

A

131

D

154

C

177

B

200

C

132

D

155

A

178

D

201

C

133

C

156

A

179

C

202

A

134

B

157

D

180

B

135

B

158

D

181

D

136

B

159

C

182

D

137

B

160

B

183

B

138

D

161

A

184

C

139

A

162

A

185

D

140

B

163

A

186

C

141

D

164

D

187

B

142

B

165

B

188

D

143

D

166

A

189

C

Vineet Ranjan Srivastava
Lloyd Surveyor & Loss Assessor
9839025070
7860025070

VINEET RANJAN Srivastava

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Dec 16, 2015, 9:46:05 AM12/16/15

to insurance surveyors, insurance...@googlegroups.com, iiisla-technical-group

C
139	A		162			A	185		D

C

Vineet Ranjan Srivastava

Lloyd Surveyor & Loss Assessor

9839025070

7860025070

VINEET RANJAN Srivastava

unread,

Dec 16, 2015, 9:46:05 AM12/16/15

to insurance surveyors, insurance...@googlegroups.com, iiisla-technical-group

VINEET RANJAN Srivastava

unread,

Dec 16, 2015, 9:46:05 AM12/16/15

to Sanjeev Agrawal, insurance...@googlegroups.com, insurance surveyors, iiisla-technical-group

Thanks for appreciation , I will post the answer sheet , but it's I find we all are attending training and seminars but no one focus in small and objectives which should be keep updated ourselves
After that I have sufficient material of Marine deptt also ,if all are willing can post post for perusal
Thanks
Vineet Ranjan Srivastava
F/N/1222

On 14-Dec-2015 18:16, "Sanjeev Agrawal" <sanje...@gmail.com> wrote:

I will be highly obliged if you immediately send the answer sheet either on group or on my personal ID i.e. sanje...@yahoo.com. Since it is a wonderful document and I am going to put it as partial study material in our Jabalpur training programme going to be held on 19/20-12-2015.

On Mon, Dec 14, 2015 at 11:52 AM, VINEET RANJAN Srivastava <vineetr...@gmail.com> wrote:

121		C		144	C		167	A		190	B
122		C		145	D		168	A		191	A
123		C		146	C		169	A		192	D
124		A		147	B		170	B		193	D
125		D		148	B		171	B		194	A
126		C		149	C		172	D		195	C
127		D		150	A		173	C		196	C
128		A		151	B		174	C		197	A
129		B		152	D		175	B		198	D
130		A		153	C		176	D		199	A
131		D		154	C		177	B		200	C
132		D		155	A		178	D		201	C
133		C		156	A		179	C		202	A
134	B		157			D	180		B
135	B		158			D	181		D
136	B		159			C	182		D
137	B		160			B	183		B
138	D		161			A	184		C
139	A		162			A	185		D
140	B		163			A	186		C
141	D		164			D	187		B
142	B		165			B	188		D
143	D		166			A	189		C

121		C		144	C		167	A		190	B
122		C		145	D		168	A		191	A
123		C		146	C		169	A		192	D
124		A		147	B		170	B		193	D
125		D		148	B		171	B		194	A
126		C		149	C		172	D		195	C
127		D		150	A		173	C		196	C
128		A		151	B		174	C		197	A
129		B		152	D		175	B		198	D
130		A		153	C		176	D		199	A
131		D		154	C		177	B		200	C
132		D		155	A		178	D		201	C
133		C		156	A		179	C		202	A
134	B		157			D	180		B
135	B		158			D	181		D
136	B		159			C	182		D
137	B		160			B	183		B
138	D		161			A	184		C
139	A		162			A	185		D
140	B		163			A	186		C
141	D		164			D	187		B
142	B		165			B	188		D
143	D		166			A	189		C

121		C		144	C		167	A		190	B
122		C		145	D		168	A		191	A
123		C		146	C		169	A		192	D
124		A		147	B		170	B		193	D
125		D		148	B		171	B		194	A
126		C		149	C		172	D		195	C
127		D		150	A		173	C		196	C
128		A		151	B		174	C		197	A
129		B		152	D		175	B		198	D
130		A		153	C		176	D		199	A
131		D		154	C		177	B		200	C
132		D		155	A		178	D		201	C
133		C		156	A		179	C		202	A
134	B		157			D	180		B
135	B		158			D	181		D
136	B		159			C	182		D
137	B		160			B	183		B
138	D		161			A	184		C
139	A		162			A	185		D
140	B		163			A	186		C
141	D		164			D	187		B
142	B		165			B	188		D
143	D		166			A	189		C