GIPSA Promotion Exam: Daily One-liners (28th January 2020)

GIPSA Promotion Exam: Daily One-liners (28th January 2020)

Dear Aspirants,

As we all know that Marine, Fire, ENGINEERING, AVIATION, Motor, HRM Part is playing a major role in any exam weather it will be GIPSA and Para 13.2 examinations. So here we are providing the Daily one liner for every upcoming exam . Daily one liner consist top study material in one line which is important for every insurance promotion exams.’

FIRE INSURANCE

  • Mid term increase of S.I. Is possible and premium – to be collected under pro-rata basis
  • Two factories are in same compound and Location detached then premium – chargeable is “per se”
  • Dwelling houses inside the factory the premium charged is – as per dwelling rate only
  • In one compound many risks are there then premium – highest rate of risk premium will be charged if location not detached

ENGINEERING

  • The sum insured should be under Boiler policy is – current replacement value
  • Can MLOP policy be given alone – No it should be issued along with Machinery Insurance policy
  • Can claim payable under MLOP policy claim is not admissible under MBD policy – No it is not payable
  • ALOP means – Advance loss of profits policy
  • What is the difference between MLOP & ALOP – MLOP will be issued along with MBD/Boiler policy but ALOP issued in advance of the actual commencement of business

MARINE/ AVIATION INSURANCE

  • FCAR – Free of Claim for accident reported: No claim is payable under the insurance if it arises from an accident which is known to have occurred before acceptance of the risk
  • Warehouse keepers – Receive the goods for the purpose of storage in their warehouses
  • Shipping agents – Many merchants prefer to put their shipments in the hands of a shipping agent who, for a consideration, undertakes to attend to the transit operation
  • AVIATION HULL “WAR AND ALLIED PERILS” POLICY Covers – loss or damage to the Aircraft nominated in the schedule against claims excluded from the Assured’s Hull “All Risks” policy

MOTOR INSURANCE

  • “Motor car” means – any motor vehicle other than a transport vehicle, omnibus, road roller, tractor, motor cycle or invalid carriage
  • “Public place” as per Section 2 ( 34 ) means – a road street, way or other place whether thoroughfare or not, to which the public have a right of access, and includes any place or stand at which passengers are picked up or set down by a stage carriage
  • “ Certificate of Insurance” issued as per – sub-section (3) of section 147 of the MV Act
  • Section 95 ( 1 ) of the MV Act, 1939 covers – ( i ) Death or bodily injury to any person or damage to property of the third party ( ii ) Death or bodily injury to any passenger of a public service vehicle ( iii ) ( Liability under workmen compensation act in respect ) of death or bodily injury of employees of the insured such as driver, conductor and person being carried in the goods carriage if such liability arises out of and in the course of employment. ( iv ) Death or bodily injury for passengers being carried in a passenger carrying vehicle

MISCELLANEOUS

  • If insurer disclaim then the insured should file a suit in court – within 12 months from the date of such disclaimer
  • Special features of PA Cover are – The cover is for 24 hours and on a worldwide basis, Travel as a passenger in a licensed standard type of aircraft is automatically covered
  • How many classification of Risk groups are there – Risk group I: Accountants, Doctors, Lawyers etc , Risk Group II: Builders, Contractors, Engineers engaged in superintending functions , Veterinary Doctors, paid drivers , Risk Group III: Persons working in underground mines, explosives, magazines, Circus Personnel etc

Read More Promotion Exam Material

Buy Online Mock Tests for GIPSA & Para 13.2 Exams

3

Leave a Reply