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Advanced Wealth Management Course (IIBF) - Paper 4
Part I: Ch 9: Fire Insurance
Q1.
Which type of policy is a package cover meant for industries with an overall sum insured of Rs. 100 crores?
Q2.
Under insurance of up to ________ is permitted in Industrial all risk policy.
Q3.
For Declaration policies issue, the minimum sum to be insured must be at least _________ in any location.
Q4.
The refund of premium based on the declarations is not permitted beyond ___________ of the premium.
Q5.
Declaration policies cannot be issued for:
Q6.
(I) TAC does not permit reinstatement value policies for stocks & goods. (II) Declaration policies cannot be floater policies.
Q7.
Reinstatement value policy is a fire policy that specifies that in event of loss, the policy will pay an amount required for reinstatement of the property insured.
Q8.
The Middle-of-Term cover commences only ________ days after the receipt of the premium.
Q9.
(I) Partial insurance can only be issued for such items and properties whose market value cannot be readily ascertained. (II) Under Floater policy stocks lying at different locations are covered under one sum insured.
Q10.
(I) Variable charges are fixed amount irrespective of the business transacted, which cannot be reduced in direct proportion to any reduction of business. (II) Standing charges are expenses incurred in the production of goods which vary in amount in direct proportion to the volume of business transacted.
Q11.
Net Profit is:
Q12.
A typical fire policy does not cover:
Q13.
Long-term policies increase in cover is permitted on a pro rata basis.

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