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    Fire Chapter 1 MCQ PDF

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    jds
    This document contains a 25 question quiz on concepts related to fire insurance policies in India. The questions cover topics such as the act that defines fire insurance, subjects covered, conditions of the policy, exclusions covered, cessation of insurance, and cancellation terms. Correct answer options are provided for multiple choice questions on each topic.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Fire Chapter 1 MCQ PDF

    Uploaded by

    jds
    6K views7 pages
    This document contains a 25 question quiz on concepts related to fire insurance policies in India. The questions cover topics such as the act that defines fire insurance, subjects covered, conditions of the policy, exclusions covered, cessation of insurance, and cancellation terms. Correct answer options are provided for multiple choice questions on each topic.

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    © © All Rights Reserved

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    PDF, TXT or read online from Scribd

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    This document contains a 25 question quiz on concepts related to fire insurance policies in India. The questions cover topics such as the act that defines fire insurance, subjects covered, conditions of the policy, exclusions covered, cessation of insurance, and cancellation terms. Correct answer options are provided for multiple choice questions on each topic.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    6K views7 pages

    Fire Chapter 1 MCQ PDF

    Uploaded by

    jds
    This document contains a 25 question quiz on concepts related to fire insurance policies in India. The questions cover topics such as the act that defines fire insurance, subjects covered, conditions of the policy, exclusions covered, cessation of insurance, and cancellation terms. Correct answer options are provided for multiple choice questions on each topic.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 7

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    1. Fire Insurance Business Defined under which act


    A. Section 2 of Insurance Act 1938
    B. Section 39 of Insurance Act 1938
    C. Section 5 of Indian Common Law
    D. None
    2. Subject matter for fire policy is / are
    A. Moveable Property
    B. Immovable Property
    C. Both
    D. Only A
    3. Insurable Interest in Fire Policy should exist at
    A. At the time of taking of policy
    B. At the time of loss
    C. Throughout the policy
    D. All of the above
    4. Insured should give notice to the insurer about any
    material change under which condtion
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    A. Condition 2
    B. Condition 3
    C. Condition 4
    D. Condition 5
    5. Sum Insured can be fixed on
    A. Market / Actual Cash Value Basis
    B. Reinstatement Value Basis
    C. Agreed Value Basis
    D. All of above
    6. Sum Insured is always to be fixed by
    A. Insured
    B. Insurer
    C. Both
    D. Surveyor
    7. Fire Insurance De-Tarrif from
    A. 1st July 2007
    B. 1st July 2002
    C. 1st Jan 2007
    D. 1st April 2004
    8. Fire Tarrif structured into
    A. 4 Sections
    B. 8 Sections
    C. 5 Sections
    D. 7 Section
    9. Section 3 of Fire Tarrif Covers
    A. Gen Rule and Regulations
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    B. Dwellings, Offices, Hotels, Shops Etc
    C. Add On Covers
    D. Utilities located outside the industrial risks
    10. Fire policy does not cover loss due to
    A. Its own fermentation, Natural Heating
    B. Undergoing any heating or drying process
    C. Burning of Insured property by order of any public
    authority
    D. All of Above
    11. Basic Fire Policy does not cover
    A. STFI
    B. Earthquake
    C. Aircraft damage
    D. Missile Testing Operations
    12. Basic fire policy covers
    A. Bush Fire
    B. Forest Fire
    C. Earthquake
    D. Spontaneous Combustion
    13. How many perils covers by basic fire policy
    A. 15
    B. 12
    C. 13
    D. 14
    14. Number of Exclusions in Basic Fire Policy are
    A. 15
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    B. 12
    C. 13
    D. 14
    15. Basic Fire policy does not cover
    A. Theft / Burglary
    B. House Breaking
    C. Larceny
    D. All of Above
    16. Section 8 of Fire Tarrif Structure is
    A. SFSP Policy
    B. Add On Covers
    C. Utilities located outside the industrial risks
    D. None
    17. Compulsory Excess in Fire policy is
    A. 10% of Each Claim
    B. 5% of each claim subject to Minimum of 10000
    C. 1% of each claim
    D. NO Deductible
    18. How much debris removal covered by basic fire
    policy
    A. 3% of Sum Insured
    B. 1% of Sum Insured
    C. 3% of admissible claim amount
    D. 1% of admissible claim amount

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    19. All Insurance under fire policy ceases after how
    many days from the date of displacement of a building
    due to any peril not covered by fire policy
    A. 10 Days
    B. 15 Days
    C. 7 Days
    D. 30 Days
    20. Insurance ceases in case of un-occupancy of
    building fro period more than
    A. 30 Days
    B. 60 Days
    C. 90 Days
    D. 180 Days
    21. Fire insurance does not cover any loss or damage
    insured under
    A. Liability Insurance
    B. Marine Insurance
    C. Package Insurance
    D. Engineering Insurance
    22. Insurance may be terminated either by insurer or
    insured by given Notice of
    A. 7 Days
    B. 10 Days
    C. 15 Days
    D. 30 Days

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    23. If claim is rejected by insurer then it cannot be
    recovered in court of law after how much time from
    the date of repudiation
    A. 6 Months
    B. 12 Months
    C. 24 Months
    D. 36 Months
    24. How many conditions are in a fire policy
    A. 12
    B. 13
    C. 14
    D. 15
    25. Premium can be refund on which basis if policy is
    cancelled by insured
    A. Short Period Basis
    B. Pro Rata Basis
    C. Reinstatement Basis
    D. Market Basis

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    Join us on Telegram Official Group for Para 13.2: Click here
    Mail us at : [email protected]

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    “Thanks & Be Ambitious” All the best for your
    Exams

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