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Advanced Wealth Management Course (IIBF) - Paper 4
Part I: Ch 13: Miscellaneous Insurance
Q
1
.
Personal accident insurance policy can be taken by any one between the ages of __________ and _________.
5 years & 50 years
5 years & 55 years
5 years & 60 years
5 years & 70 years
Q
2
.
Under Permanent Partial Disablement (PPD), the disablement compensation is set at 1% of the Sum insured per week for a maximum of 100 weeks.
True
False
Q
3
.
Contractor’s All Risk (CAR) policy contributes to about __________ of engineering insurance premiums.
20-25%
30-35%
40-45%
50-55%
Q
4
.
Shopkeeper’s Insurance is designed for small shopkeepers, whose property valued at less than ___________.
Rs. 1 lakh
Rs. 5 lakhs
Rs. 10 lakhs
Rs. 15 lakhs
Q
5
.
(I) Money in Transit policy covers money or securities while in transit between the insured’s premises and bank/post office. (II) Burglary Insurance policy covers travelers’ accompanied baggage, against loss or damage due to theft, fire or accident during travel.
Both the statements are correct
Only statement (I) is correct
Only statement (II) is correct
Both the statements are wrong
Q
6
.
Fidelity Guarantee Insurance policy indemnifies employers against financial loss suffered by them due to the specific dishonest acts of their employees.
True
False
Q
7
.
(I) Machinery Loss of Profits (MLOP) Insurance covers the financial loss consequences of a project, which is delayed because of accidental damage. (II) Advance Loss of Profit (ALOP) Policy provides indemnity against financial losses caused by interruption of duction due to machinery break-down, boiler explosion or other causes.
Both the statements are correct
Only statement (I) is correct
Only statement (II) is correct
Both the statements are wrong
Q
8
.
(I) Erection All Risks (EAR) Policy provides cover to plant and machinery while being erected and subsequently tested. (II) Machinery Insurance provides cover against sudden and unforeseen damage to the insured machinery.
Both the statements are correct
Only statement (I) is correct
Only statement (II) is correct
Both the statements are wrong
Q
9
.
Under Collective Fidelity Guarantee policy , the insurance is cancelled on payment of a claim.
True
False
Q
10
.
A condition of the Machinery Loss of Profits (MLOP) Insurance policy is that a claim must first be admitted under the concurrent material damage policy.
True
False