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Advanced Wealth Management Course (IIBF) - Paper 4

Part I: Ch 13: Miscellaneous Insurance

Q1.

Personal accident insurance policy can be taken by any one between the ages of __________ and _________.

5 years & 50 years

5 years & 55 years

5 years & 60 years

5 years & 70 years

Q2.

Under Permanent Partial Disablement (PPD), the disablement compensation is set at 1% of the Sum insured per week for a maximum of 100 weeks.

True

False

Q3.

Contractor’s All Risk (CAR) policy contributes to about __________ of engineering insurance premiums.

20-25%

30-35%

40-45%

50-55%

Q4.

Shopkeeper’s Insurance is designed for small shopkeepers, whose property valued at less than ___________.

Rs. 1 lakh

Rs. 5 lakhs

Rs. 10 lakhs

Rs. 15 lakhs

Q5.

(I) Money in Transit policy covers money or securities while in transit between the insured’s premises and bank/post office. (II) Burglary Insurance policy covers travelers’ accompanied baggage, against loss or damage due to theft, fire or accident during travel.

Both the statements are correct

Only statement (I) is correct

Only statement (II) is correct

Both the statements are wrong

Q6.

Fidelity Guarantee Insurance policy indemnifies employers against financial loss suffered by them due to the specific dishonest acts of their employees.

True

False

Q7.

(I) Machinery Loss of Profits (MLOP) Insurance covers the financial loss consequences of a project, which is delayed because of accidental damage. (II) Advance Loss of Profit (ALOP) Policy provides indemnity against financial losses caused by interruption of duction due to machinery break-down, boiler explosion or other causes.

Both the statements are correct

Only statement (I) is correct

Only statement (II) is correct

Both the statements are wrong

Q8.

(I) Erection All Risks (EAR) Policy provides cover to plant and machinery while being erected and subsequently tested. (II) Machinery Insurance provides cover against sudden and unforeseen damage to the insured machinery.

Both the statements are correct

Only statement (I) is correct

Only statement (II) is correct

Both the statements are wrong

Q9.

Under Collective Fidelity Guarantee policy , the insurance is cancelled on payment of a claim.

True

False

Q10.

A condition of the Machinery Loss of Profits (MLOP) Insurance policy is that a claim must first be admitted under the concurrent material damage policy.

True

False

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