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Advanced Wealth Management Course (IIBF) - Paper 4

Part I: Ch 14: Liability Insurance

Q1.

The amount of relief payable for fatal accident under Compulsory Public Liability Insurance is:

Rs. 5,000 per person

Rs. 10,000 per person

Rs. 15,000 per person

Rs. 25,000 per person

Q2.

The amount of relief payable for actual damage to property under Compulsory Public Liability Insurance is:

Rs. 6,000

Up to Rs. 6,000

Rs. 5,000

Up to Rs. 5,000

Q3.

The amount of relief payable for actual medical expenses under Compulsory Public Liability Insurance is:

Up to maximum of Rs. 12,500

Up to maximum of Rs. 7,500

Up to maximum of Rs. 10,000

Up to maximum of Rs. 15,000

Q4.

The premium rates are the highest on Group I risks and move down along the scale rising towards the Group IV risks.

True

False

Q5.

A compulsory excess of _________ of Any One Accident (AOA) is required in case of exports, except in case of US and Canada.

1.0%

1.5%

0.5%

2.0%

Q6.

Professional indemnities policies generally provide cover with a limit of indemnity on any one year (AOY) for any one claim (AOA).

True

False

Q7.

The compulsory excess is a minimum of ________ for US and Canada.

0.25%

0.5%

0.75%

1.0%

Q8.

The insured has to bear a compulsory excess of __________ in case of industrial risks.

0.5%

0.25%

0.75%

1.0%

Q9.

The amount of relief payable for permanent Total disability under Compulsory Public Liability Insurance is:

Rs. 10,000

Rs. 5,000

Rs. 25,000

Rs. 50,000

Q10.

In case of non-industrial risks, the insured has to bear a compulsory excess of _________.

0.25%

0.5%

0.75%

1.0%

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