Insurance Questions Daily-41

Insurance Questions daily proved very useful to all Insurance aspirants or insurance savvy who regularly seek insurance knowledge.   

These 20 Insurance GK MCQs are all about Life and about the general insurance sector.

Questions related to various terms used in marine,aviation insurance, Clauses, widely used Formulas used etc. on Insurance GK.

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Q-1- The buying of Insurance is lies with _________ under fractional ownership programme.

  1. Owner of aircraft
  2. Operator of aircraft
  3. Either from Owner or Operator of aircraft
  4. none of above

Option-2 The primary onus of buying insurance rests with the operator who is in operational control of the aircraft.

Q-2- What is Federal Aviation Administration(FAA)?

  1. Aviation regulatory authority in USA
  2. Authority to manage Air traffic in USA
  3. Organization who issue guidelines for safe flight operations
  4. Organization responsible for safety & security of airline operations in USA

Option-1 Federal Aviation Administration(FAA) is a Aviation regulatory authority in USA.

Q-3- Operational control functions of any aircraft includes

  1. Scheduling of crew and aircraft
  2. Accepting charter flights from the public
  3. Reviewing weather and notices to Airmen
  4. All of above

Option-4 all above are includes under operational control of any aircraft.

Q-4- What is LASH vessels?

  1. A cargo container ship
  2. A mother ship which carry floating containers
  3. One having facility for shipping lorries, trailers, cars etc.
  4. Vessel equipped with high quality of navigation system

Option-2 LASH means ‘Lighter Aboard Ship’ which carry “floating containers” in the form of Barges up to 1000 tons displacement.

Q-5- Which of the following is TRUE?

  1. Coasters vessels are larger in size
  2. Coastal vessels are prone to risk of collision and damage
  3. Coastal voyages are safe and generally small due to vessel size
  4. Coasters vessels have to withstand the same strains as Sea/Ocean-going vessels

Option-2 Coastal vessels enter and leave ports more frequently than ocean-going vessels and they often operate in congested waters. Therefore the risk of collision and damage from contact with quays and piers is greater for such vessels.

Q-6- Bucket type, Grab type, Hopper, Cutter section, Trailer suction all are type of

  1. Dredgers
  2. Sundry Hulls
  3. Fishing Vessels
  4. Container vessels

Option-1All are the type of Dredgers. Dredger is a craft used to de-slit harbor basins and mouths, river and canal bottoms in order to open and deepen the channels and maintain sufficient draught so as to allow bigger vessels to enter Harbour waters and make them navigable.

Q-7- Which of the following are relatively small flat-bottomed vessels, generally used in port waters to carry cargo and passengers?

  1. Boats
  2. Barges
  3. Dredgers
  4. Launches

Option-2 Barges are relatively small flat-bottomed vessels, generally used in port waters to carry cargo and passengers.

Q-8- Which of the following is NOT a basic requirement of Tugs?

  1. Self-propelled
  2. Maneuverability
  3. Adequate towing power
  4. Stability under all conditions of operations

Option-1 The basic requirement for the Tgs are stability under all conditions of operation, maneuverability and adequate towing power.

Q-9- Marine policy can be exceded 12 months

  1. False, It can not exceed 12 months
  2. True, provided payment of advance premium
  3. It depends on insurer and credibility of customer
  4. True, premium charged is lower than regular premium

Option-1 Section27(2) of the Marine Insurance Act, 1963 prohibits granting a Marine Time Policy exceeding a period of 12 months.

Q-10- The term Gross Tonnage(GT), Gross Registered Tonnage(GRT) and Net Tonnage(NT)

  1. all are same
  2. are different for each insured
  3. are units of measurement for underwriting
  4. none of above

Option-2 All these are same with different name only.

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