at. s.an additional exclusion under professional indemnity policy for medical professionals.

Tse of anassiiesa
Plastic Surgory In connacton with bums.
U ofX Roay duing trsatment
Phastic aurgival rapar o scar iasus unrolatad fo cosmesis
Usa of drugs for wight raduction
X waone awswer
CORRECT ANSWER:
Use of drugs for weight reduction
Explanation:
In Doctors professicral ncemty polc, two aaditional exciusions are nciuced.
. Porformance by dentists ad dental surgeonsof:
© Ay procsaure cames sutunser gr ra ansesinesi uniass periormed n 3 nosptal
1. The use of 0rugs for weight reducton.

az Which of the following best describes the need for reinsurance?

"To keep pramiums.
To naurs urinsurablo risks
To gain isurance experise
“To reduce number of caima incurred
To maintan solvency requiromans
X whon avswier
‘CORRECT ANSWER:
To meintain solvency requirements
Explanation:
Opjectves orramaurance
) The main obectof einsurance is 1 spreact s eavy oss over many irsurer
o) Ramsurance 103 1 insurors te 3ccopt arger rsks from tne neuring pubc.
) Rensur e s el the fnsurers n avoiding wice Tuctustions in theloxs 1o rom year (o year and s, enables them fo schive sabily 1y undernriting sl

reinsurance piovides 3 safeguara sgainst serious efect of catsstrophic loss

as. Wnich of the following policy Is desligned for homeownsrs Insurance in USA?
Liquor oumers poficy
Business ownare poly
Polluton liabilty policy
Farm lisbiky
Homeownsr's propsrty liabldty package polcy
X wmon e
CORRECT ANSWER:
Homeowner's property abilty package policy.
Explanation:
Inthe USA, Homeawner's Property Lisbilty Package Poicyis designed forhomeowners,

as. Choss the correet option:

The Directare and Offcars may be labie to emplayees for
Unfalr ciemissals
Breach of legisetion
Imprudent oxpansions
Visreprasaniaton of fnanciel conciions
Financlal loss falloning rallance on Incorrect or nadoquate or negligant siatament
¥ comascansweR
Explanation:
The Direstors and offcers may be Kable(o
@) Emplcyoes: For vt atemissal, oc.

) Shareholcers: For mprudent sxpansions orloans of Investmsnis, stc.

) Crocitors: For misrepresentatin of financia conditions, efc.

) Government raauiator bodis: For brsach oflgialaion ofe.

) Membrs of ine publie: Forfnancial13s fllowin Falance o3 Incorractor Nad3quats o Regigent statament of inancial conalton, et

as Fees and expenses incurred by DO for legally required attendance can be Sought under which extension of DSO policy?
Insurod ve. Insureds cover
Kienzp ransom caver
Extandod roporting o forInsursd porsons
eprasaniation al investigations snd sxaminations
Enty protacion on smployment rlated marers.
X wrona nswer
CORRECT ANSWER:
Repressntation at investigations and examinations
Explanation: A
Different plicy forms ars i use by diferentinsurers based on Which the coverage providsd may difer
elow 13 one of e Imperiant Sl covar it 1 possibl Uncar O & O Folcy Wit SuTImary of Coversge dstis undere extension:
Reprosentationanduy
InvesTgaton, at investiations
SxamInaen ano SIS
cxaminations:
Such proceiRsasonablo ard nccessary cost, f56s and expenses incurred with pror wrton consent of Insurers for egally reauired attsndance by any directoror offcer at ony offcial
as. Identily from the following, the policy which cannot be offered under liabily insurance.
Frofessional incemnty lakiky polcy
Cormbinod ganoral abily poiicy
Direciors and oficers labity policy
Business Inrtuption insurancs
Polcy undar Public Lisbiy InsuranceAct
% nmono answies
CORRECT ANSWER:
Business interruption insurance
Explanation:
Lisbiity nsarance comprises maily of th following poiies:
al S ey under ‘Pubtic Liablity Insurance Act (hazsrdous substances)
) Pabii iailty iy forincustrialan non-ndustral isks
o1 Proguets bty patiy
) Combined general iabilt poticy.
o) rotessionsi indemniy abiy policy
) Enployers!labilty (Norkmen's Compensaton) poicy
) vactors'ana Cricers' sy poliey
) aher iabities

ar. The abjective of Principla of indemnity Is to ensura that the

Insured’s loss is made good
Insurod i worsa of afer oss
Insuret s o pay heavy taxes
Insured s betir of afie loss
Insured s depived of further insurance
o commect answen a
Explanation:
The prinsipl of Indermniy arovides thet an insurod 6an r9caver hia Fnancial08e Gnly 0 0 extantof is insursble ntrest.
The obect ofthis pincipie i o cusure tha the inaured kons i = i ey ity e rr o e el i o o o o el of B o it o v prcvii ety i
ST sny Uncut Benert outof he msurancs

as. Idontify from tho following, tho option which is.3 non proportional form of roinsuranco.
Lake mathod of reinsurance
Facutatve method of einsurance
Excass of loss math
Guota mehad of reneurance.
Boss method of einsurancs.
X wrons AswER
CORRECT ANSWER:
Excess of loss method
Explanaton:
onpropartionai rzaries
Inthesc, ths raimaurers pay fr a 158 only when £ 9Xe60Ce &n 3376SC AT anc only UptH e agras I Fallowing
are 19 7pos of non propartons! eats,
1 Excone ot lose o maurence
2 Stop Loss (Fxcess ofloss ratio]
The coverage provided under the Directors and Officers’ policy extension mentionsd below
“Employmant Practicos”
Cover for coste associated nith Kidnap for ransam or dstorton
Covsr for calms biought out by one dliector against another diector
Cover for claims conceming past, present or prosperive employee of the company and arising out of sctual or aleged unfair o vrongful smployment practices
Extandd time for reporlingths clams which have occurred afer retzoactive date and bafbra expiy of the polcy pariod
Alofthe sbove
PR —
CORRECT ANSWER:
Cover for claims concerning past, present o rospective employee of the company and arsing out of actual o allaged unfalr or wrongful employment practices
Explanation:
R SRS ————————
Empiomert pactcss
s proviies cover or claims concarn
GGl deprivatin of corser Spport 13 pst, present o prospective employe of he company a1 aising outof 3kl o sleged Rl o WIOTGTU! SmployMent prscicss ke RENSIGe, ismissal, Lermination, filurs
o promete,

The insuredd's under the DAO policy isfare namely:

1. Company itsolf
2 Allhe employees of the company
3 Directors and Officers of the company

X_wrone auswen
CORRECT ANSWER:
Tand3
Explanation: a
D1rsctors and ocars of companics naki
B Supery aton o1 Che i oF i Company, e posrions of Guat They Nave FOSpoRBIBAEY o ERsir SompaNy, 50 SNAFSNOIGErs, o GMpioy993 nc 10 PUBK At g, They may bacome abi 1o B2y damags for wrangIul acts such a
Thers ars owo nsureds under he D & O oy, namely:
« Tne Directors an Offces of the Company on
The coverage is ranted i two parts.
 s reinsurance agreement whersin reinsursr provides autamatic protection to insurer up (o certain fmits.
Cassion
Cadant
Insurance agrssment
Treaty sgroamant
Faculative agreement
X wmous ansen
CORRECT ANSWER:
Treaty agroement
Explanation
A ety is an agreement between the cedng company and thereinsurer whereby the It provides autormatic and cbligatory protection upio ertan T for al rsks eling within e scope of the agreerment.

Cover against claims brought by investors against the company or directors following public offering by the company can be sought under which extension of D&O policy?
Insurad vs. Insureds cover
Extandod roporting tma forInsured porsons
énzp ransam caver
Enty proteciionon smployment related maters.
Praspectus iabilty for curent or future oerings or entity profection fo securty claims or enity covsrage for prospectus fiabity
X wrons awswer
CORRECT ANSWER:
Prospactus liabilfty for current or futuro offorings or antity protoction for sacurlty claims or antity covorago for prospoctus liabilty
st a
Prompmctu Esbiityfor currentor future cfferings or Entity proection fo security cisims or Enily coversge for Prospecius isbily:
1 18ims broUGNS By Invastors Sgainsts company or Grectors ollowing puble TN by the SOPaNy. T Sover can aiso b aken 38 & stangsione Polley UnGer *EuBIic Orfarings of Securities Insurance
#3

Which of the following law, s the law s enacted by the logislature?

Findu lav
Statutory lov
Common law
Nor-statirtory fa
X wron ansnen
CORRECT ANSWER:
Statutorylaw
Explanation
titon may o aris undor tatutoy aw. Siatutory lew is the fow as onacie by the egislturs 0. Ths Public Lisbilty Insurancs Act, 1401, Tho Motor Vehiciss Act, 1958, Tho Workman'a Compansation Act, 1623 ot
Which of the following is/are exclusion/a undor E&0 policy?
1. War or radistion risks
2. Damago duo (o errors occunting in good faith causd by profossionals
3. Damage due to omissions ocourring in good faith caused by professionais
Only3
Only 1
Only2
Tand3
2and3
X waonG auswer
CORRECT ANSWER:
oniy1
Explanatlon:
Eirors and Gssions poiies o issued 163 o3t of professionals snging fom Gusity cortying sgenciss Lo softuare do lopers, sovertising sgencies, stock biakers and the whols GSmut of new ags professionsls.
The policy wil sxciude:
) Deberats or Wil acts
) Dishonesty o fsuauient acts

71 AGts occurming prir o mspian of poiy

I sciion the stancird exclusions of professioralabilty plicies sso apriy.

What s the maaning of the term liablity?

Maloabily
Responsidiiy
Aty
Ductity
Adaptabilty
/ conncor anemen
Explanation:
Dictonary meaning
of the erm Tiabiity s esporsibiy”
 A3 por CGL poliey which of the following megns the unlawiul use of violence against persons o property to further olitcalcbjectves and i intended 1o intimidate or cosrce @ govermment, ndividual or
persons to madify their behaviour or po
Terorism

J connzer awswen a
Explanation:
Tortorem means (s nlawTul s of Vionce Sgainst PerSON o proBSIT)T A PO SEjsct 6 Whleh i ntended t IRGmicate
or 5218 3 VBRI, INGIVIGUSI of PaTsons to MGy TS Benavior of poIEs.
Q. Explain the term ‘Refroactive cover'
ViMare poley covars losess during gracs period
Vhere polcy covers losses even f premium are not paid
ViMoo polcy dogs not cover lossos.
\lhars palicy covers losses ahter picy exgiry
Vmare polcy covers losses hat accurrod bofore currant pally Incepton dato
CoRReCT Aiidien:
Where policy covers losses that occurrad before current policy inception date
Explanation: a
Caims mage poiey can aiso bs extanEsa 10 cover 98568 WICh OScuITsd BeTore 1 NSaprOn of e polcy. RIS 1 term 85 HEESCLVe Eover and e p 150 ince e potiey wil respond 1 known as Retosctve st
It case, v infury e occurred afer the retioactvs ot rovided in the poliy but befor the e of thepaliy period are considsrec.

Storago risks such as 15 also considored as Industrial sk,

Cinema hals

aministratve premises
X wrons aswER
CORRECT ANSWER:
Depors
Explanation: s
Indusirial risks are manufacturing induaiies. Storsge fska Such a8 epots, warehouses, godowns, 4nks and fri which ac Inidental
o he busneas actvities of e manufacturing pant ae s considared 2 Industral ks,

a1, #that is the meaning of Volention fitinjuria?

Complete understanding
To him who is villng thers can bs o injury
X wnone answie
CORRECT ANSWER:
To him who is willing there can be no injury.
Explanation:
Votenti Non it njuris mean that 10 i who s wiking there can be o ifury”
74 bsrean voluntariyconesnt fo run a ik, 1 a3 o it of acton againat anyonsor muriss suffsrodas raeult of e ectone.
A per the CGL poficy, one of the dutics of the insured in the cvent of an aceurrence, clsim or =uit iz
File 2 Gase on the cieiment n cour:
No offer admissions or paymentto be made wihoutinsurers consent
Invostigats tho claim
Negoliste with the clsimant
‘Assume any Kabily that fals balow o cortain mit
X wrono ausner
CORRECT ANSWER:
No offer admissions or payment to be mads without insurars consent
Explanation:
[

1 Insures receives 4 ciam, oy the nsurers of clams recetvee

Forward 500169 ofall demands, otics, summons in connection with the claim
No aar aamission or paymentto bs mads wihout Insurers consent
“The thing speaks for fiself Is the meaning of the common law ule of
Ros fpsa loguitur
Res ipsa judcata
Ros lpsa rescindatls
Res ipsa publics
Nono af he abave.
7 commecAnsweR.
Explanation:

Tre rute ano! hers the aosident s mors probably 6us o ho nepicence than
t any etnar oause and 1 Gircumetances lcding {o he aceident aro WA 1ho control and managament
of the daferdant

s the common exclusion between Professional indemnity policy for medical professionals and Public Liability insurance poiicies.
Flastc sugary
Use of druge for waight recuction
Casmasis
Linel and Stander
Filt transpyant
x

CORRECT ANSWER:
Libsl snd Slander
Explanation:
The professional indemaity
o 13l insurance will
of 2over defamston, siander, Abel, any I eselof onieact, he bresch of WAIFAN, Ialeciual property, any personai inury Sustsinad, seculty, e costof coniact, etc.

According to CGL policy, which of the following means a land motor vshicls,trailer or smitrailer designated for ravel on public roads, including any sttached machinsry or equipment?

Warcrait
%

CORRECT ANSWER:
Ao
Explanation:
As per COL Poliy clouses, Auto means & and motorvehick, e of semitraiercesigned fo ravel on public roads, ncluding any aitached machinery or cauipment but ot mabi cauipment.

The clause incorporated in the policy whero moro than one insured is covered undor tho policy is
Operatie
Grose liabilios
Extended reorting
Indemniy
Compliance
CoRRECT RNSHER:
Cross tibiies
—
Cross e s T cius s ncorort i poficywher
ot v s coverd
e s P,
az. ‘Stop Loss treaty oporatas n rospoct of which of tho following?
Fixad smount of undarlying retention
Proportionate amount of undelying fetenion
Annualloss ratioincurrsd
‘Annuel Ioss ratio expected
Nane of the abeve
P —
CORRECT ANSWER:
Annualloss ratlo Incurred
Explanation:
Stop Loss'treay i+ ariation O he excess o 0ss eaty. This treay Cperatos I respect
of s Annual 058 1l Incurre 2ncs ot i fespect of any fixed amauntof
e underlying retenton

az. A professional person with a particular skill or exportise will be judged by the standard applicable o
'Other professionals or skiled persons.
Other perans eversising the sams profession
Other persans with the cams expertss and kil
Ot persans vith the sams period of sxpariance and skil
None of the ahave
% weons answer
CORRECT ANSWER:
Other persons with the saime expertise and skill
Explanation:
A professional person with a prticular kil o expertise wil be udgedby the standare appiicabl (o oihr persons with fhe same experise and skil
az. The amount of claim payable is also subject o limits under:
Indomty los.
Voluntary compuiscry excess
Amount Seimed
Regulaory fimts
Nane of the above
X wrous answen
CORRECT ANSWER:
Voluntary/compulsary oxcoss
Explanation:
The mount o s ayable s sixo xubject o th fmits of indemnity uner s Policy, Volntaryicormpuluory sxcess,f say, e

az. 1floma ar pld on behalfof et o s, e<overy may be poSSivle fom the manufacturo
vho 1 pAMGIiY responsbl forthe defect i the proct and rocoveres under rensurancs
anangements. This is known as
‘Gantribution condition
Eroimate ciause condtion
‘Good fath conciton
Subrogation condilion
Nane of the ebove
CORRES RS
Subrogation condition
Explanation:
Subrogaton refrs e sight of an insurer, following payimentof» cisim, 1o Lake over e insarec' rghts ta recover paymment fror » e pary responsibe for the s
Itis limited o the amount pad out under 3 bl
as. A common method of fixing reinsurance premium is to compute ata rate per cent on the Ceding Company's ‘Gross Net' premium income. Which of the following comrectly describes this term?
‘Origina gross prsmium lsss e premun cedsd undar clhr reinsarancs arangemens
Origial gross premium less buring cost
Original gross promluim loss margin fr oinsurar's oxponsos.
Originalgrass premium plus burming cost
Nano of the atave
comRecT AnswER
Explanation:
(G2 Net premim Income mesns fhe oiginal (1035 permAIm €5 e premi ceded Under ofr Fensurance 3Tangements prioro 3 0 (he benef of ha excass ofloss ety
Which of the following Is a useful mathod for arranging rainsurancs protaction for now clas of businass n which the ceding company is yot to acquire sufficiont oxparience?
Surplus traaly meth:
‘Quata share froaty method
Excass of Loss Recisurance method
Stop Loss method
Nane of the above.
X wrone nswer
CORRECT ANSWER:
Quota share treaty method
Explanation:
Qusia share sty I8 3 LSSl Mo T STERGING T9IMSUFINCE PrOLacH fof New Class of usINGS n Which the ceding company yot10 accuirs surmient experiencs.
Forexomple, professionsl indemaities may be protected by = quota share eaty.
The insurance company has the right and duty to defand the cass. Howsvar this right will be exercissd only:
Vinare the low of the land permEs the Insurancs company 10 defond the case
[#1he insLrance company has akaady defendad such cases Sarler
Ifthe case s uclola’
Ifthe cass invalves hesring by the Insurance Tribural
Where the insurance company has experience in the market
X_wmone asmen
CORRECT ANSWER:
Where the law of the land permitsthe insurance company (o defend the case
Explanation:
The riant will e oxercised only where the ow of he lnd permits s insurance company to deferd fhe case.

There are & numbar of exclusions that may be prasent in policies. Which of the follawing is not a palicy exclusion to » Directors Liabilty policy?
Dishonosty of a director
Breach of professianal duty
Finos panaites, ot
Claims doe o company reimbursement of directors liabity
None of e above
X wrone ansnen
CORRECT ANSWER:
Claims due to company reimbursementof directors labilly
Explanation
Divectorsliablty policy covoroge i Graniedin two parts undor the irsuring clauss: Difestors o cffers labify and Company Rsmbursement Provision.
Al of the follawing claims for doctors and medical establishments are specially excluced undler professional iabily policy coverage, sxcapt:
Professional services rendered afet he revoacive date
Trvrd party public Fabilty
Acts commitiedn violaton of aw
Sarvicas randrad undr th influsnce of intoxicants
None o the above
comsecr answen
Explanation:
vl Fonoersd afar he FEtoRctNG GEtars Inciudsd Under professIanal IBDIRY CoYSISEo fo Coto ana medies! etablenmants
However, I they are proviia prio 1o therelioacive dai, hen are specialy Sxchuced under e professions! sttty porcy.

Cllneal wials may bo carnlod out on whichi of the following?

Feclthy Humans
Persons suffering from disecse
Bt o the sbove
Arimais In 220
Nere of the above.
X wrone ausnen
CORRECT ANSWE
Bothof the above:
Explanation:
mat s aro macea rosorch suctes i oo, 1 o = i fficasy and staty 8 Gy o humans. Tis may b o1 G sk Yalnters or patents suienng rom & & or wnicne maicine s boing.
The process tobe fllowe, type of 530ple WNo may partcip 40sages and longin o1 1 tuay otc. or 0 9 68 par pro-detinee pretocole.
 One of the claim conditions is that the directors and officers of the company shall give notice in writing of any claim made. Which of the following i the time limit for such notice?
2hours

Nere of the abova.

X wroue auswen
CORRECT ANSWER:
Immediately
Explanation:
The drciors and offcers of e company should gie tetice of any elsim i wiiling Inmedistly.

I the case of cybercrime Hiability, the policy coverage is on lines of which of the following?
Public fabily polcy
Profassional liabily policy
Erors and Omissions policy
Lisniey poiy.
Nono of tho akove
X wrowo answer
CORRECT ANSWER:
Errors and Omissions policy
Explanation:
I the case o cybercrime abity, the poliy Goverage ison ines of Efrrs and Omissions polcy.
LES According to the premium rules, i case of cancallation, which of the following s the notice perlod In case of non-payment of premium?
60 days
6 days
10 days
16 days
66 dars
X wrone Answen
CORRECT ANSWER:
10days
Explanation:
05 Rotcs 1 ca89 of on paymant ofpremium s 10 dlaya and n il or oasss T 60 ceye.
Under Medical expansas for bodiy injury caused by an accident within the coverse territory and within the policy pericd, expenses are incurred and reported to insurers:
Immedistoly
Vithin one year of the sccident
Wehin 1 month of the accident
Allofthe abova
Nane of the above.
X wrons answer
CORRECT ANSWER:
Within ono yoar of the accidont
Explanation:
Expenses s incurred and repocied 1 Insurers wihin ore year of the ac=ident
an Professionals ars iable on the hasis of the principle of iabilty for the nsgligence of their smploy=ss arising in the course of their smplayment.
indemrity
Vicarious
Equel
Cantracual
Nane of the above.
X wmome auswen
CORRECT ANSWER:
Vicarious
Explanati
The professicnia e isble o e s o principl ofvicrious bty forthe negligence of theie rpioyees sixing i the course oftheis eraployment.
 The standard of cars that is expecied fram an architect was stated under which of the following court cases?
‘Chapman v Walton
Lanphisr v Pipos
Badgley v Dickson
Candier v Cran Christmas& Co
None of the chove
FORRELT RSN
Badgloy v. Dickson
Explanation: a
Badgiey v, Dickson case siated the sandord of cave hatis xpesied from an archieet.
a4z The Company may have to indemnify s directors and officers for any ltigation in respect of the ltter’s breach of duty ete. I the conduct of the Company’s affairs, provided that:
‘Such obigatlon s permitod by the sharoholdars
‘Such aligation s parmitad by the Bosrd of Dbecters
‘Such obigatlon is cxprossly mortionod n tho Company's Afiies of Associaion
‘Such obiigationis not permitad intally butlater ratiied by the Directors
Allofthe above
X wrowo answer
CORRECT ANSWE
‘Such obligation is expressly mentioned in the Company s Artcles of Association
Explanation: a
The Company m: e o ndemny it directors anc officersforany begeton in respcct o te laie’s breac of dty . n s canduc of 1 Company's afar, Brovided tha 3uch Gblatin i cxprcasy mentored in he
penys Afve
Enror and Omissions Liabilty policios are primarily on:
a = nagptistec basis
Clals made baske
Clsims forcast basis:
Al the above
Nona of the above
X wrows answer
CORRECT ANSWER:
Claims made basis
Explanation:
Erors enc Omissions Lisbiky pociss srs primarily
on elsims mce basis.
Qs Which of the following s ot a heading in the i assessment report?
Qualy control
Sales and distibtion
Customer complaints procedure
Probatitty of 155,
Allofthese.
X wrous answer
CORRECT ANSWER:
Probability of loss

ST ikdetis et
GeRston ant Semort
i os proidec
o Progusts ceks andescporte folowing
o hadinon:

eysianeina oo
1)v to Crstomers
iSaiation inproduct
of ths produet
Customer compisis ay e Ineurad
procadure
o oy
T Loncision - Conersi svsessment o s ncustia roitons
o st Fobsokosping
Probabilty o oss s not s neadingn th sk s ment report
a#s. The nsed for reinsurance protsction in liabi sl svidsnt as:
Lisbilty insurance is lassiiec under proportiona fraties methods
Liabilty nsuranco Is lassilod undor non-proportonal satios mothods:
Lisbilty insuranc may Ivoive enormous profs for e naursr
Liabity insurance may nvolva hoavy potoniial0ssos
Hane is comect
X wrons answien
CORRECT ANSWER:
Liabilty insuranco may involve hoavy potential losses.
Explanation:
T neec for rinsursice rotection in abily nsurance i sl vicen, &5 pubic ity and employars bty insurance may involve hsavy potentil lossss.
Q6. Notfication has(0 bo followod by a complotion of Claim Form. Tho reason for tls s:
i 3 lagal requirement
tanabios quickismaot procossing of ciaims,
tis compulsar
Alof the abovs
Nans of t shove.
orr—
CORRECT ANSWER:
Itenables quickismooth processing of claims
Explanation:
T compltion o laim form immeckintsly after nofficaton s bencfiia forthe insured » it cnbios smoath proce g of claims.

Q47 The questions in the proposal form relate to which of the following?
“Tra name and addross of e companics
The nature of businass and year of asablishment
None of the above
X wmone avsnen
CORRECT ANSWER:
Aot s
om—
i s e e g et ol g e Bs
o et et e e e
e sttt ettt
e T g
o o e itectors and profession S theie quaifications, experience
13h Drocodures and Comiock SoRTSIe
) Emploves urnover.
@45, AClaims Series Event is defined as a series of two or more claims arising from one specific common cause which s attributabls to:
The supply of the same products and/or sanvices
The products anclar s=nvizs showing the same defact
Eoth of the above
Neither | nor I
Th supply of o diferant products with mukiplo dofocts
X wrowo auswen
CORRECT ANSWER:
Both of the above
Explanation:
A Claims Sories Event is dofined o5 seris of o or mors clains aising from one specific common cause which i atributable
2070 e same fultn ' design,
BTt rocucts animanufacture,same
o insiructions for use or labeling of products or,
876 prodtel inser Samee vy vervioss,
derect ot

Q49 The premium rates of a professional liabilty policy for an individual are charged on the basis of
‘Arrusi feosumover
Arvus indemmity It
Norber of ents
Nurtber of years of exparionce
None of e above
X wrous ausnen
CORRECT ANSWER:
Annualindomaity liit
Explanstion:
T premisn tex of professionatsbiity pokey for an ndividu! sre chrged o e ks o the annusl indemaity it

@50, Inthe cass of Pollution covorago, all Pollution or Contamination that arisos out of ona Incidnt shall bo doomod t havo occurrod on:
The dste of such incident
Tho dsta hat he Insured frst becomes aware of such Incident
Ths dats whan the penalt for bréach of snvironmentl norms Is svied
The date afer a month of the incident
Nore of the above
+ commeoTanswer
Explanation:

@26, Identify from the following, tha civil abilty which does not arise under statutory low.
Profassional Liabilly
Workmen | Employes compensation ity
Pubic bty Insurance Act Likilty
Mctor venice iabilty
Nona of the above
x

CORRECT ANSWER:
Frotessional Libitty
Explanation:
Liabifies may alsoarise undier satutory law. Statutory aw s 11 aw s enacted by the legisatur .0, The Public Lsbilty Insurance Act, 1581, The Nolor Veficles Act, 1508, Ths Workmen's Cormpensation Ac, 1923 e
i ey hersrers can eise undor

i Statues and
i Low of contencts