GIPSA Promotion Exam – Motor Quiz-1 for Scale 1 to 5

GIPSA Promotion exam PSU Scale 1-5 Motor Quiz-1

19/10/2024

Table of Contents

Motor MCQ Quiz-1 for GIPSA PE Scale 1-5

GIPSA Promotion Exam: General Insurance Public Sector Association (GIPSA) conducted Promotion exam for all eligible candidates working in General insurance PSU for Scale 1 to 5.

Below we are providing some MCQ’s with Answer from Motor Subjects for practice purpose. You can get more MCQs from our paid courses.

Q1. Agreed Value policy can be issued for?
a) Misc. Type of vehicles
b) Vintage Car and/or Classic Car
c) Imported Cars
d) Vintage Car

Q2. Maximum Discount available for Classic Car is?
a) Nil
b) 25%
c) 50%
d) 25% on OD and 50% on TP Premium

Q3. A 3 years old vehicle having IDV of Rs.4 lakh is due for renewal with 20% NCB. What will be its IDV on renewal?
a) Rs.3,60,000
b) Rs.3,20,000
c) Current Ex-showroom price less 40%
d) At the discretion of the underwriter

Q4. A 1599 CC Private Car Manufactured in April, 2018 with 20% NCB and IDV of Rs. 500000/- met with an accident in July, 2021, having damages Metal Parts 20000, Plastic parts Rs.10000/-, Painting 10000/-, Labour 5000/- and Salvage Rs. 750. Calculate the claim payable:
a) Rs. 3100025. For which type of vehicle, India is divided into two zones for premium calculation:
a) Two Wheelers
b) Commercial vehicles ratable under Section 4.C.1
c) Commercial vehicles ratable under Section 4.C.4.
d) All of the above

Q5. For which type of vehicle, India is divided into two zones for premium calculation:
a) Two Wheelers
b) Commercial vehicles ratable under Section 4.C.1
c) Commercial vehicles ratable under Section 4.C.4.
d) All of the above

Q6. Minimum Premium for Private Car:
a) Rs. 25/-
b) Rs. 50/-
c) Rs. 100/-
d) None of the above

Q7. Transfer request of Liability Only Cover on sale of vehicle in favour of purchaser should be made
a) Within 14 days of Sale
b) Within 15 days of t/r of RC
c) Deemed to be transferred in the name of transferee w.e.f. the date of transfer
d) Anytime from the date of sale till expiry of the policy

Q8. A person has double insurance with two different insurers, A and B. He has lodged a claim with A and then requested B to cancel his policy. He will be eligible for refund?
a) after deduction of prorata premium, sub. to min. premium
b) after deduction of premium on short period rates
c) No refund
d) Full refund

Q9. It is incorrect to say that cancellation of insurance policy on transfer of ownership can not be done unless proof of at least Liability Only Insurance Cover for the vehicle is provided.
a) True
b) False
c) May be in certain case
d) Insufficient information
Q10. NCB can be granted on?
a) Motor Trade Road Risk Policies
b) Motor Trade – Internal Risk Policies
c) On the total amount of Liability and Fire Policies
d) None of the above