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Insurance MCQ Daily-23

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Q-11- For Aerial photography the best choice to use of

  1. Hybrid VTOL
  2. Multi rotor drones
  3. Fixed wing aircraft
  4. Single rotor drones

Option-2 Multi Rotor Drones are widely used for Aerial photogragy, aerial video surveillance etc.

Q-12- Subrogation provision can vary in DIC policies.

This statement is TRUE or FALSE?

  1. True
  2. False
  3. can’t say
  4. depends on Insurer

Option-1 Subrogation provision can vary in DIC policies. As some form of DIC give the insured to waive off subrogation against a party that caused or contributed to loss.

Q-13- DIC policies are having standard coverage form.

  1. True
  2. False
  3. Can’t say
  4. In some countries its TRUE

Option-2 DIC policies not having standard coverage forms, so policy language should be reviewed carefully before a DIC policy is selected.

Q-14- From below which are true about DIC Policy Structure

  1. An ‘all risk’ primarily coverage form that excludes perils that are being provided by a standard policy.
  2. A specified peril primary covergae form with only the perils that are to be covered on the DIC form listed.
  3. As excess property form with underlying policies scheduled and standard property causes of loss excluded.
  4. All above are true.

Option-4 All above are true.

Q-15- The deductibles under dIC policies are on________

  1. Higher side
  2. Lower side
  3. No deductibles
  4. Same

Option-1 The deductibles under dIC policies are on higher side because they are targeted toward catastrphic losses and not frequent small losses.

Q-16- DIC Policy may provide for either ______________ value settlement.

  1. replacement
  2. actual cash
  3. replacement or actual cash
  4. none of above

Option-3 settlement under DIC policy may be for either replacement or actual cash value settlement.

Q-17- The term DIC of DIL can be used interchangeably?

  1. No, both are different terms
  2. Yes, both can be use interchangeably
  3. depends on Country specific
  4. none of above

Option-2 Difference in coverage(DIC) and Difference inLiability(DIL) both terms an be used interchangeably.

Q-18- DIC policies have _________ deductibles

  1. fixed deductibles
  2. percentage deductibles
  3. either percentage or fixed deductibles
  4. both percentage or fixed deductibles

Option-4 DIC policies have bothe percentageor fixed deductibles.

Q-19- which of the following is part of DIC policy?

  1. Side A cover
  2. Side B cover
  3. Side C cover
  4. All above

Option-4 SideA/B/C are all forms of DIC polcicy and provide different cover under director & officers policy.

Q-20- Limits used in DIC policies are

  1. Occurence limit
  2. aggregate limit
  3. Occurence or Aggregate limit
  4. Occurence and Aggregate limit

Option-4 Both Occurence limit and aggregate limits are used under DIC policy.

Insurance Daily MCQ is very helpful to all those who are preparing for various competitive exams. This MCQ will certainly add value to their Insurance learning. Practice it daily with us and get a competitive advantage over your competitors.

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  1. Pingback: Reasons Why Organization's Should Not Ignore DIC Insurance Policy - The Insumist

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