ENGINEERING INSURANCE
1) In case of EAR/CAR policy premium is to be paid from the
A first contingent arrived at site
B date of proposal
C date of shipment/dispatch of project material
2) Time excess under MLOP policy is
A 3 days
B 7 days
C 10 days
D none
3) Which one of the following is not underwritten in Engg. Dept.
A CAR
B EAR
C IAR
D CECR
4) In MCE policy for 18 months if the project is completed prior to declared date of completion
A a refund of premium can be given
B no refund of premium can be allowed
C refund of premium can be given if there is no claim
D premium can be held as next deposit for next project
5) Sum insured on reinstatement value policy should show
A cost of rebuilding the subject matter on date of loss
B cost of reinstatement of subject matter at time of taking policy
C cost of rebuilding subject matter less depreciation on age on date of loss
D none of the above
6) The gross profit insured under MLOP policy would cover
A net profit
B standing charges
C both of the above
D none of the above
7) EEI policy does not cover
A desktop
B laptop
C printer
D CPU
8)Following is not an annual policy
A MI
B P.P
C Ear
D EEI
9) The material damage provision under MLOP policy states that
A loss under LOP is admitted only after there is a loss under the MI or BPP material damage
policy
B The loss of profit policy is independent from the material damage policy
C the loss under MD and LOP policies cannot exceed the SI under fire policy
D none of the above
10)A CAR policy can be issued where civil work in a project is more than
A 60%
B 50%
C 40%
D 25%
11) is it necessary to admit a loss under MI policy before a claim under MLOP policy?
A yes
B no
12) Mobile construction equipments can be covered under
A motor policy
B CAR policy
C CPM policy
D both a and c
13) For underwriting a project insurance the following information is essentially required
A the nature of the project, duration and testing period duration
B limit of third party liability, additional custom duty to be covered, S.I. under marine cover
C both of the above
D none of the above
14) how many types of EXCESS area available in long term project policies
A three
B four
C five
D six
15)a separate CAR policy should be issued if total value of civil work exceeds
A 25% project value
B 40% project value
C 50% project value
D no restriction
16) RIV policies –the following is not applicable
A designation of property
B under insurance
C depreciation
D salvage value
17)Under EAR/CAR policy installment of premium facility is allowed only, if the period is more
than
A 10 months
B 6 months
C 9 months
D 12 months
18)sum insured under MI/EEI policy should be
A market value
B written down value
C new replacement value
D present value
19)The MLOP policy covers
A loss of profit due to reduction in turnover during indemnity period
B loss of profit during the financial year
C loss of turnover due to fire
D none of the above
20)How many classified group of machineries area available under CPM policy?
A seven
B five
C ten
D three
21) The last premium under EAR/CAR policy where installment facility has been granted has to
be made before
A 3 months
B 6 months
C 9 months
D 8 months
22) For RIV policy the insured ahs to give his concurrence for settlement at market value basis
A on day of loss
B within 12 months from date of loss
C within 180 days from date of loss
D not at all
23) 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
C RSMD is not deleted
D a and b above
24) for covering marine portion under an MCE policy you would require information
A S.I for inland transit
B S.I for overseas transit
C both of the above
D none of the above
25) facility of installment premium is available for project policies if the project period exceeds
A 12 months
B 15 months
C 18 months
D 24 months
26) In which of the following is testing an in built cover?
A CAR
B CECR
C EAR
D MBD
27) Which is correct?
Statement a : Boiler and pressure plant policy is extended to cover loss or damage to the
surrounding property of the insured.
Statement b: there is no obligation on the part of the insurer to issue renewal notice in
advance.
A neither
B only a
C only b
D both
28) Which of the following is not an add on cover under a project policy?
A surrounding property
B third party liability
C offsite storage and fabrication
D debris of uninsured property
29) Which equipment cannot be covered under EEI policy?
A personal computer
B laptop
C sonography
D MRI scanner equipments
30)The effective date for product variation freedom relating to fire and engg. Segment for non-
life insurance is
A 1st jan 207
B 1st apr 2007
C 1st apr 2008
D none of the above
1 a 2 b 3 c 4 c 5 a
6 c 7 b 8 c 9 a 10 b
11 a 12 d 13 a 14 b 15 c
16 c 17 d 18 c 19 a 20 b
21 b 22 b 23 b 24 c 25 a
26 c 27 d 28 d 29 b 30 c
