Q-11- A warranty provides coverage for their _________.
- risk
- peril
- hazard
- product
Option-1 A warranty provides coverage for their risks.
Q-12- Captive insurance company is the insurance subdiary of ___________
- government insurance company
- non government insurance company
- parent company
- government insurance company
Option-3 Financial management is an important managerial function conerned with planning and controlling financial resources of an enterprise with a view to maximise returns.
Q-13- From below which is the objective of captive insurance
- reserving for future liabilites
- reducing cost of insurance of parent company
- providing coverage for risks that are difficult to place
- all of above
Option-4 All above are the objetives of captive Insurance.
Q-14- Using AI can help insurance companies spot abnormalities in claims data and identify false information that customers use to get a lower premium or bigger claim payout.
- this statement is true
- this statement is false
- true only in case of Deep Learning
- true only in case of Machine Learning
Option-1 It is a true statement.
Q-15- Generally, who take hull Insurance
- Ship owners/builders
- Ship Financers/Banks
- Ship Breakers/Repairers
- All above
Option-4 All above take Hull Insurance for their respective rights.
Q-16- Ocean going Vessels can be divided into all below EXCEPT
- Dry Bulk Carriers
- Passenger Vessels
- Tankers-VLCCs/ULCCs
- Barges, Launches/Boats
Option-4Barges, Launches/Boats are the example of Sundry vessels.
Q-17- Linear vessels are
- loads on advertised berth
- runs usually on fixed route
- runs to advertised schedule
- can be change route as per owner’s trade
Option-4 Linear vessels runs on fixed routes ONLY.
Q-18- Tramp service have good risk in comparision to Linear which have bad risk
- True
- False
- Linear service require special underwriting due to bad risk
- none of above
Option-2 False, Lenear service have good risk in comparision to Tramp service having bad risk.
Q-19- what are these terms in marine: Panamax, Suezmax, Capesize
- ship sizes
- name of ships
- name of canals
- name of countries
Option-3 All these are Ship sizes.
Q-20- The insured is known as ________
- the first party
- the second party
- the third party
- the fourth party
Option-1 The insured is known as the first party.
These Insurance GK questions are based on Machine learning, Captive insurance, insurance current affairs and in form of Insurance quiz and answers.