Que. 1 : Material facts are the facts connected with the subject matter of insurance which may influence an insurer’s decision in the following:
   1.  Accepting or not accepting a risk for insurance
   2.  Fixing the amount of premium to be charged
   3.  Including special provisions in the contract about the conditions under which the risk would be covered and how a loss would be payable.
   4.  All of the above
Que. 2 : Which of the below is a element of proposal form?
   1.  Proposer’s name in full
   2.  Proposer’s address and contact details
   3.  Proposer’s profession, occupation or business
   4.  All of the above
Que. 3 : Which of the below is a element of proposal form?
   1.  Details and identity of the subject matter of insurance
   2.  Sum insured
   3.  Previous and present insurance
   4.  All of the above
Que. 4 : Most of the non-life insurance policies are insured on _______________ basis.
   1.  Annual
   2.  Monthly
   3.  Weekly
   4.  All of the above
Que. 5 : Policy wordings are understood and interpreted as per the following rule:
   1.  An express condition overrides an implied condition except where there is inconsistency in doing so.
   2.  In the event of a contradiction in terms between the standard printed policy form and the typed or handwritten parts, the typed or handwritten part is deemed to express the intention of the parties in the particular contract, and their meaning will overrule those of the original printed words.
   3.  If an endorsement contradicts other parts of the contract the meaning of the endorsement will prevail as it is the later document.
   4.  All of the above
Que. 6 : Policy wordings are understood and interpreted as per the following rule:
   1.  Clauses printed or typed in the margin of the policy are to be given more importance than the wording within the body of the policy.
   2.  Clauses attached or pasted to the policy override both marginal clauses and the clauses in the body of the policy.
   3.  Clauses in italics over-ride the ordinary printed wording where they are inconsistent. All of the above
   4.  All of the above
Que. 7 : Printed wording is over-ridden by typewritten wording or wording impressed by an inked rubber stamp.
   1.  Handwriting takes precedence over typed or impressed wording.
   2.  Finally, the ordinary rules of grammar and punctuation are applied if there is any ambiguity or lack of clarity.
   3. 
   4.  All of the above
Que. 8 : Endorsements normally required under a policy related to:
   1.  Variations /changes in sum insured
   2.  Change of insurable interest by way of sale, mortgage, etc.
   3.  Extension of insurance to cover additional perils / extension of policy period
   4.  All of the above
Que. 9 : Endorsements normally required under a policy related to:
   1.  Change in risk, e.g. change of construction, or occupancy of the building in fire insurance
   2.  Transfer of property to another location
   3.  Cancellation of insurance
   4.  All of the above
Que. 10 : Endorsements normally required under a policy related to:
   1.  Change in name or address etc.
   2.  Change of insurable interest by way of sale, mortgage, etc.
   3.  Extension of insurance to cover additional perils / extension of policy period
 4.  All of the above

Similar Posts: