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Advanced Wealth Management Course (IIBF) - Paper 4
Part I: Ch 10: Marine Insurance
Q
1
.
Which clause covers the risks of physical loss and damage caused by Collision with or by the carrying vehicle?
Institute Cargo Clauses (A)
Institute Cargo Clauses (B)
Institute Cargo Clauses (C)
Inland Transit Clause ‘B’
Q
2
.
(I) Hull insurance concerns the insurance of the carrier of the goods. (II) In Cost, Insurance and Freight (C.I.F) arrangement, the seller is responsible for arranging the insurance.
Both the statements are correct
Only statement (I) is correct
Only statement (II) is correct
Both the statements are wrong
Q
3
.
The legal framework for carrying out cargo as well as hull insurance is provided by:
Marine Insurance Act, 1961
Marine Insurance Act, 1973
Marine Insurance Act, 1963
Marine Insurance Act, 1971
Q
4
.
Which clause is used to discharge of cargo at a port of distress?
Institute Cargo Clause (A)
Institute Cargo Clause (B)
Institute Cargo Clause (C)
Inland Transit Clause ‘B’
Q
5
.
Which clause covers the risks of Earthquake, volcanic eruption or lightening?
Institute Cargo Clause (A)
Institute Cargo Clause (B)
Institute Cargo Clause (C)
Inland Transit Clause ‘B’
Q
6
.
Which clause covers the risks of Country damage on payment of extra premium?
Institute Cargo Clause (B)
Institute Cargo Clause (C)
Institute Cargo Clause (A)
Rating & Underwriting for cargo insurance
Q
7
.
Which clause covers the loss or damage due to inadequate packing?
Inland Transit Clause ‘C’
Inland Transit Clause ‘B’
Institute Cargo Clause (B)
Institute Cargo Clause (A)
Q
8
.
Which clause covers risks of loss/damage caused by lightning?
Inland Transit Clause ‘B’
Institute Cargo Clause (C)
Institute Cargo Clause (B)
Inland Cargo Clause “C’
Q
9
.
Under Institute Cargo Clauses (Air), the period of cover after unloading the cargo from the aircraft at its destination is _______ days.
60 days
30 days
20 days
15 days
Q
10
.
Which clause covers the risk of overturning or derailment of land conveyance?
Institute Cargo Clause (C)
Institute Cargo Clause (B)
Inland Transit Clause ‘C’
Inland Transit Clause ‘B’