GIPSA Promotion Exam: Daily One-liners (30th January 2020)

GIPSA Promotion Exam: Daily One-liners (30th 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.’


  • The expression of Terrorism and/or act of terrorism shall have the – same meaning
  • The maximum aggregate loss with all insurers in India for terrorism risk is – Rs.750.00Crores
  • 750.00 Crores is the maximum limit for any one risk for loss of – Material Damage + LOP
  • What is the deductible under Terrorism – for industrial risks .5% of the total S.I. Subject to a minimum of Rs.1.00Lakh , for non-industrial risk .5% of total SI subject to Rs.25000/-
  • Terrorism cover can only be given along with – RSMD Cover


  • CAR Policy covers – Civil Engineering projects, like buildings, bridges, tunnels etc
  • Is theft and Burglary covered by CAR policy – Yes it is an all risks policy
  • Under CAR policy sum insured to be equal to – the estimated completely erected value of the contract works inclusive of materials, wages, construction costs, freight, customs duty and items supplied by the principal
  • Condition of average is applicable in – CAR policy also
  • EAR policy is known as – Storage cum Erection (SCE) policy also


  • D.D.U ( Delivery duty Unpaid ) – The seller undertakes to deliver the goods at named place in the country of importer without payment of the custom duty as applicable in that country
  • Sellers Contingency Insurance policy to be given to – Seller if the buyer refuses to take the delivery of the goods the interest of the seller will be protected under this policy
  • Credit Insurances will cover some risks of such rejection but – they are concerned only with the financial aspects and they are not concerned with any loss or damage suffered by the goods
  • Insurance covers loss or damage to goods but not – the extra expenses incurred by the seller following a reversion of goods to him example warehousing charges and cost of reshipping
  • Depending on the reason for the repudiation of the sale by the buyer, the above expenses are recoverable by the seller from insurers covering the Credit Risk, namely – Export Credit Guarantee Corporation ( ECGC)


  • The above two acts are consolidated by – Road Traffic Act, 1960
  • In India the Motor Vehicles Act was passed in – 1939
  • Compulsory TP Insurance introduced in India in – 1946
  • Motor Vehicles 1939 Act replaced by – The Motor Vehicles Act 1988 and come into force from 1st July, 1989


  • Can Death Cover excluded in Group PA Policy? – Yes if a Group Life policy covering Death benefit for the same group of persons is in existence and a discount in the premium applicable to death cover is allowed from the total premium
  • Raj Rajeshwari Mahila Kalyan Yojna cover – Women in the age group of 10 – 75 years
  • Due to accident in case of un married woman under RRMKJ the compensation of Rs.25000/- payable to – Nominee or legal heir
  • In case of married woman taken the policy and her husband dies due to accident then the compensation payable to – married woman only Rs.25000/-

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