GIPSA Promotion Exam: Daily One-liners (Part 4)

GIPSA Promotion Exam: Daily One-liners (Part 4)

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.


  • 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/-
  • Reduction in sum insured under Declaration policy – is not allowed
  • Refund of premium on adjustments under Declaration shall not exceed – 50% of the total premium
  • The basis of value of declaration shall be the – Market value anterior to the loss
  • Declaration shall not be issued to – Short period, Stocks undergoing process, Stocks at Railway Sidings


  • 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)


  • 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
  • How many type of tunnels are there – 3 Types Bored tunnel means Constructed underground, Cut& Cover tunnel constructed from ground surface and Immersed Tube Tunnel on sea or river bed
  • Hydro – Electric tunnels are exposed to – risks of Rockfall, land slip or flooding
  • For Road construction what is the major hazard – Flash Flooding and water and frost damage to partially completed road surface are a source of danger
  • Cost & Freight ( C&F) – under this contract responsibility to arrange insurance is on the buyer
  • Cost, Insurance & Freight ( CIF ) – under this sale contract the seller is having responsibility to insure the goods. This policy is truly Warehouse to Warehouse .
  • Trader will have a control on Insurance arrangements – BUY ON FOB BASIS and SELL ON CIF BASIS this way he will have control of insurance arrangements


  • 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
  • Liability only policy covers – Third party Liability for bodily injury and/or death and property damage. Personal accident cover for Owner Driver is also included
  • Under Motor Tariff Regulations GR 45 A says – the insured can take restricted cover for Fire and / or Theft risks if the vehicle may be laid up in garage and not in use
  • Chapter VII – A and Chapter VIII of the Act provide for insurance of Motor Vehicles against – Third party risks


  • 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
  • The salient features of the revised market agreement for JPA Policy – effective from 1.11.1999
  • Age group to be covered under JPA – 10 to 70 years only
  • Under Gramin PA Insurance the Sum Insured is fixed at Rs.10000/- and the premium is – Rs.5/- only and age limits are 10 years to 70 years


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

GIPSA Promotion exam 2021

Click to Buy GIPSA Promotion Complete Package 

GIPSA Promotion Exam MAHACOMBO : Complete Video Course & Mock Tests for GIPSA Officer Scale 1 to 5 (6 Subjects)

  • 50+ Hours Chapter Wise Video Classes for All 6 Subjects including Fire & Engineering , Marine & Aviation , Reinsurance, Motor, HRM, Miscellaneous
  • 4000+ MCQ Based Questions in Online Mock Tests Include 6 Subjects.
Click Here
GIPSA Officer Scale 1 to 5 COMBO Mock Test Click Here
Complete Video Course for GIPSA Officer Scale 1 to 5 Click Here

Leave a Reply