Legal Aspects of Insurance - 1.2

• Percent of premium received in advance in declaration policy is:-
  0.75
• Household goods are sent to Jaipur from Surat, the insurance available to protect the goods from loss are:-
  Marine transit insurance , Carrier's liabilities insurance
• If the amount of compensation is more than 20 lacs it falls under commission jurisdiction at:-
  National level
• An offer remains open till:-
  It is revoked , It is rejected
• The main object of the environment protection Act is to co-ordinate activities of central & state pollution board.
  True
• Bank financed Mr. Joshi, to purchase a house. Insured and Bank both have taken insurance policies from two different insurers for the same period. Unfortunately there is a claim due to short circuit. The claim now will be:-
  Payable by both Insurer
• Under workmen’s compensation act it is compulsory that all workmen are covered under the policy, and policy is issued on ________ basis.
  Adjustment
• Mr. Ravi made a duplicate Will of his father with the intention to take over all his property. According to Indian Penal Code, the act is:-
  Forgery
• To avoid conflict between two insurer for same risk, the principle of ________ arises.
  Contribution
• Detention is one of tort relating to person.
  False
• After payment of claim amount in full, the care of abandoned damaged subject matter is to be taken by insured.
  False
• Injury caused by or contributed to by war is:-
  Excluded under policy
• Business -Transactions in connection with trade / commerce
  Surveyor belonging to category "A" -12 Months Training
  Loss assessor - Code of conduct
  Hit & Run claims - Solatium fund
• Facilities for delay premium - Legal Liability to passengers
  Objective of reinsurance - Maximum retention within the country
  Premium in installment - Contract performance Bonds
  Rule 58 of Insurance Act - Advance payment of premium yes