InsuranceMCQ_daily_insuranceGK.com

Insurance Questions Daily-51

by

Q-11- What is the other name of Advance Loss of Profits (ALOP) policy ?

  1. Advance Loss of Price
  2. Delay in Start Up Policy
  3. Advance Loss of Property
  4. Delay in Launch of Product

Option-2 Delay in Start Up Policy

Q-12- The subject matter of insurance in ALOP policy can be ___________ .

  1. Profits
  2. Standing charges
  3. Debt service charges
  4. All of the above

Option-4 All of the above are the subject matter of insurance in ALOP policy.

Q-13- Which of the below mentioned policies covers financial consequences of a project being delayed because of accidental damage of the project materials ?

  1. CPM Policy
  2. ALOP Policy
  3. C.A.R. Policy
  4. E.A.R. Policy

Option-2 ALOP Policy

Q-14- The claim in ALOP policy is settled only when the ALOP policy is taken in conjunction with _______ policy.

  1. C.A.R
  2. E.A.R
  3. C.P.M
  4. Both 1 and 2

Option-4 Both CAR and EAR are required in conjunction with ALOP policy for any claim payable.

Q-15- Which of these is not an “Insurable property” under Machinery Breakdown Policy ?

  1. Boilers
  2. Equipments
  3. Electrical machinery
  4. Factory building where the Machinery is installed

Option-4 Factory building where the Machinery is installed

Q-16- Under which of the situations the Machinery Breakdown Policy covers unforeseen and sudden physical damage to the machinery ?

  1. Electrical breakdowns of machinery at work
  2. Mechanical breakdowns of machinery at rest
  3. Breakdown while being dismantled for cleaning
  4. Breakdown when being shifted within the premises
  5. All of the above

Option-4 All of the above

Q-17- Under which condition a contractor who may be using his plant and machinery at different projects can avail CPM Policy ?

  1. Contractors can choose Sum Insured as per their requirements
  2. Sum Insured is decided by the Insurance company on Audit of project
  3. When the sum insured required exceeds the total sum insured of CAR project
  4. When the sum insured required is less than the total sum insured of CAR project

Option-3 When the sum insured required exceeds the total sum insured of CAR project.

Q-18- The Standard Contractor’s Plant and Machinery policy covers unforeseen and sudden external physical loss or damage from these Perils / Losses. Select the Incorrect one ?

  1. Burglary, theft, riot and strike
  2. malicious damage and terrorism
  3. Fire and lightning, earthquake and flood
  4. Loss of profits due to machinery breakdown

Option-4 Loss of profits due to machinery breakdown

Q-19- Which of the following policy covers the losses due to “Business interruption” after machinery breakdown at the Insured’s premises ?

  1. Contractors All Risk policy
  2. Machinery Breakdown policy
  3. Advance Loss of Profits policy
  4. Machinery Loss of Profits policy

Option-1 Machinery Loss of Profits policy

Q-20- The continuing expenses met out by the Insured in the event of breakdown in Machinery Loss of Profits policy are known as _________ .

  1. Standing charges
  2. Incidental charges
  3. Sue & Labour charges
  4. Business Interruption charges

Option-1 Standing charges

These Insurance GK questions are important for students, those preparation for Licentiate or any other exams require exposures of General insurance. Awareness of Engineering insurance and other related insurance policies like CAR, CPM, EAR helps in arranging more reliable and informed decision making in deciding of appropriate insurance coverages.

Pages: 1 2

Know more about General Insurance with Avendra Singh

Visit now!
X