IC 72| MOTOR INSURANCE|ONE LINER|PARA 13.2|III EXAM

MOTOR INSURANCE PART -2

The Motor Insurance (IC 72)  is a paper in III exam  for Non Life Insurance. The Motor Insurance (IC 72) is a optional paper and it comprises of 30 Points. This is the most important paper in III Examination, and most people prefer this paper.
This paper comprises of 100 Multiple Choice Questions. Aspirants need to score 60% in this paper to qualify for Licentiate.

We are providing one-liners of this paper practice of Motor Insurance (Ic 72) which will be very important from exam point of view. This one-liners is very easy to understand.

1. Motor Vehicle Act , 1939 , but provisions of the chapter VIII were brought into force from 1.7.1946 and those of Chapter VII – A were effective from 1.10.1982
2. The Motor Vehicles Act, 1988 ( Act No.59 of 1988 ) replaced the – earlier 1939 Act and become effective from 1.7.1989
3. Chapter X of the MV Act, 1988 Sections 140 to 144 deals with – “Liability without Fault in Certain cases” ( 1939 Act VII-A SEC 92A to 92E )
4. Chapter XI of the New Act, Sections 145 to 164 deal with – “Insurance of Motor Vehicles against Third party risks”
5. Chapter XII sections 165 to 176 of the New Act deal with – “Claims Tribunals”
6. Provisions of Chapter VIII of the 1939 Act have now been covered under – Chapter XI & XII of the New act
7. Chapters X, XI, XII of Motor Vehicle Act 1988, exclusively deals with – Compulsory Third Party Insurance
8. “Articulated Vehicle” means – A motor vehicle to which a semi-trailer is attached
9. “Certificate of Registration” means – The certificate issued by Competent Authority to the effect that a motor vehicle has been duly registered in accordance with the provisions of the Act (Chapter IV of the Act )
10. Conductors License deals by – Chapter III of the Act
11. “Contract Carriage” means – a motor vehicle which carries passenger ( s ) for hire or reward and is engaged under contract, whether expressed or implied, for the use of such vehicle as a whole for the carriage of passengers mentioned therein, and entered into by a person holding a permit in relation to such vehicle or any person authorized by him in this behalf on a fixed or agree rate of sum on time basis and included a maxicab, motorcab
12. “Stage carriage” means – a motor vehicle constructed or adapted to carry more than six passengers excluding the driver for hire or reward a separate fares paid by or for individual passengers either for the whole journey for stages of the journey
13. Difference between Contract Carriage and Stage carriage is – Contract carriage is engaged for the whole of the journey and it can not pick up passenger en route and whereas the stage carriage runs between two points irrespective of any prior contract and it is boarded by passengers en route who pay the fare for the distance they propose to travel
14. “Driving License” issued under – Chapter II of the MV Act 1988
15. Driving License for Transport (Licenses) are valid for – 3 years
16. Driving License for Dangerous and Hazardous goods vehicles renewal is – subject to One day refresher course ( this license is valid for 1 year only )
17. Driving License for Private car is valid up to 20 years – till a person attains age of 40 years
18. Now above the age of 50 years would be renewed for a period of – 5 years on payment of prescribed fees
19. LMV – up to GVW 7500 KG, MMV – GVW 7500 kgs to 12000 kg and – HGV – GVW above 12000 kgs ( Gross Vehicle Weight )
20. “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
21. “Motor cab” means – any motor vehicle constructed or adapted to carry not more than six passengers, excluding the driver, for hire or reward
22. “Motor car” means – any motor vehicle other than a transport vehicle, omnibus, road roller,tractor, motor cycle or invalid carriage

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