GIPSA Promotion Exam: Daily One-liners (Part 1)

GIPSA Promotion Exam daily One-liners (Part 1)

GIPSA One Liner : 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

• How many conditions are there in Fire policy – 15 conditions
• All insurance shall cease on expiry of 7 days from date of – fall or displacement of any building or part thereof provided that fall not caused by insured perils.
• Insurance ceases if – the trade or occupation alter
• Debris removal expenses clause covers loss – in excess of 1% and up to 10% of the total sum insured ( fire policy covers up to 1% only )
• Omission to insure clause only 5% of the sum insured to cover and the premium payable in advance is- premium at the inception of the policy on 5% of sum insured
• Earthquake deductible is – 5% of each and every claim subject to minimum of Rs.10000/-

ENGINEERING

• EEP Covers Data Media are kept – on the premises
• Loss or damage of Bulbs, Valves, Tubes, ribbons, belts lubricating oil – not covered by the policy and all those losses are under exclusion
• What are excluded under EEP Policy – Dish Antenna, portable equipment like laptop computer and sonography
• Under EAR Policy “ cold testing” means – Testing of parts under “no load” condition
• Hot testing under EAR policy means – Testing of parts under full load conditions
• The force which causes the current to flow through circuit is known as – Electro- Magnetic Force(EMF)

MARINE/AVIATION  Insurance 

• Liner vessels – carry cargo according to an advertised schedule between home port and overseas ports of destination, calling en route at intermediate ports on the voyage
• Shipments by TRAMP vessels – charges heavy extra premium under cargo policies
• The all India Marine Cargo Tariff introduced in the year – 1983
• Section II of the above policy covers – Accidental bodily injuries ( fatal or otherwise ) and accidental damage to property caused by the Aircraft or by any person or object falling therefrom
• Annual policy issued for 12 months covers – goods not for sale and which are in transit by rail/road from specified depots/processing units to other specified depots/p.units
• Warranty 3 provides that – claim under the Duty policy would be payable if the claim under the cargo policy is payable
• Duty Insurance is not valid – if effected after the arrival of the vessel at the destination port

MOTOR Insurance 

• Subrogation is modified by Agreements between Insurers – ex: Knock for Knock Agreement
• Contribution arises when there is a – Double Insurance
• The contribution condition is specially worded in private car policies because the owner is also covered for Third Party Liability while – driving cars not belonging to him
• LMV – up to GVW 7500 KG, MMV – GVW 7500 kgs to 12000 kg and – HGV – GVW above 12000 kgs ( Gross Vehicle Weight )
• “Maxi cab” means – any motor vehicle constructed or adapted to carry more than six passengers, but not more than twelve passengers, excluding the driver, for hire or reward
• “Motor cab” means – any motor vehicle constructed or adapted to carry not more than six passengers, excluding the driver, for hire or reward

MISCELLANEOUS

• Frostbite, Snakebite and Drowning, homicide or murder without provocation are – covered under PA and treated as Accidents
• Loss or use of Limbs concerned and not the limbs themselves , is also deemed – to be the loss of limbs
• For loss of little finger compensation is 4% of capital sum insured, loss of four fingers 35% – loss of hearing both ears 75%
• Basic cover with extended cover is – Rs.23/- per woman per year
• Group discount – is allowed as per number of persons covered under RRMKJ
• Long term discount – 2 years: 5%, 3 years:10%, 4 years: 15%, 5 years: 20% allowed

Click here to Fill the Details if you want Counselling from GIPSA Study Materials

• Join Telegram Group for GIPSA PE

Click to Buy GIPSA Promotion Complete Package 

Download GIPSA PROMOTION – ONE LINER PDF – PART-1