GIPSA Promotion Exam: Daily One-liners (3rd February 2020)

GIPSA Promotion Exam: Daily One-liners (3rd February 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.’


  • If entire building of the Industrial estate is insured under one sum insured the rate is – 1.80%
  • Per se means – on its own merits
  • Factories where no manufacturing activities are carried out continuously more than 30 days the premium rate is – charged under silent risk ( if after loss then no activity it is not applied )
  • Monthly declarations under Declaration policy based on the – average of the value at risk on each day or highest value on any day of the month
  • Minimum Sum Insured under Floater Declaration Policy is – Rs.2.00 Crores
  • Minimum Retention of Premium under Floater Declaration Policy – 80% of the annual
  • Premium Reinstatement value policy under Fire provides – that in the event of loss, the amount payable is the cost of reinstating property of the same kind or type, by new property


  • Policy period are same for both Operational and Construction phase – No. Operational policies are annual policies and whereas construction phase policies are depends upon the period of the project
  • IAR policy belongs to – Fire department but covers MBD and MLOP also
  • Sum Insured bifurcated into – A) Contract Price B) Materials supplied by the principal C) Any other additional items
  • Airport works Air side work consists of – construction or extension of runways and aprons, installation of airport lighting and re fuelling facilities
  • Contract Works Insurance Policy means – This policy is combination of CAR and EAR policies
  • Loss or damage due to faulty design is an exclusion in CAR Policy but in EAR Policy – it excludes shall be limited only to the item affected and shall not exclude loss or damage to other insured items resulting from the excluded peril


  • The slip printed in Red and marked “important” is known as – Red Slip
  • Red slip drawn the attention of consignees to certain procedures to be followed by them to preserve rights of recovery against carriers is attached to – Marine Policy
  • Open Policy is known as – Floating policy also
  • An Open Policy is a stamped document and Certificates issued under this policies need not be –Stamped again
  • Open policies issued to cover – Inland Transits only
  • Open cover is – not a stamped document and issued to cover imports and exports
  • Certificates under Open Cover – to be stamped
  • INCAPACITY means – Any incapacity causing the PTD or TTD of the person insured
  • This policy to be give to the age group of – 19 to 49 years only


  • If the owner died the policy will be in force – up to 3 months from the date of death or expiry of policy which ever is earlier
  • The vehicle can be transferred to the legal heir on production of – Death certificate in respect of the insured, Proof of title to the vehicle, Original Policy
  • For Imported cars how much loading we have to do – 30%
  • CNG/LPG what is the % to charge – 4%
  • Deduction for Depreciation is the same for Private car, Two wheeler and for –Commercial Vehicles also
  • Difference of exclusions for private car and Commercial vehicles are – in commercial vehicles 1. there is no liability for damage caused by overloading or strain of the motor vehicle 2. nor is there any liability for loss or damage to accessories by burglary, housebreaking or theft unless the motor vehicle is stolen at the same time


  • Hospital should have – at lease 15 in patient beds ( C Class towns 10 beds )
  • A place of rest, A place for Drug Addicts or Place of Alcoholics are not a – Hospital/ Nursing Homes
  • Minimum period of 24 hours not applicable to – Dialysis, Chemotherapy, Radiotherapy, Eye Surgery, Dental Surgery, Lithotripsy ( Kidney stone removal ), D&C, Tonsilectomy
  • Domiciliary Hospitalization benefit means – Medical treatment for a period exceeding 3 days taken at home under some conditions
  • Expenses not covered under Domiciliary Hospitalization are – Asthma, Bronchitis, Chronic Nephritis, Diarrhoea and Gastro-Enteritis, Diabetes, Epilepsy, Hypertension, Influenza, cough and cold, All Psychiatric disorders, Pyrexia of unknown origin for less than 10 days, Tonsillitis, Arthritis, Gout and Rheumatism
  • Age group for MEDICLAIM Policy – 5 to 80 years and children between 3 months to 5 years can be covered if one of the parents insured with him

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