INSU 305 (Ch.4)

INSU 305 (Ch.4)

University

17 Qs

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INSU 305 (Ch.4)

INSU 305 (Ch.4)

Assessment

Quiz

Other

University

Easy

Created by

Ali Lotfy

Used 11+ times

FREE Resource

17 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

One of the following contracts used to divide transaction costs and responsibilities between buyer and seller

INCOTERMS

Reinsurance

Insurance

Affreightment

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

According to Ex-Works (EXW) in INCOTERMS, ………………

The seller is responsible for all charges

The buyer is responsible for all charges

The reinsurance is responsible for all charges

The ship-owner is responsible for all charges

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following provide the most coverages to traders at the highest premium?

FCA – Free Carrier

Institute Cargo Clause C

Institute Cargo Clause B

Institute Cargo Clause A

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Incidental perils are caused due to faults in loading, carrying and unloading, that refer to:

Maritime risks

War perils

Unusual risks

Strike risks

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In INCOTERMS, the seller pays for all transportation costs and bears all risks – until the goods have been delivered, according to:

FCA – Free Carrier

CIP – Carriage and Insurance Paid

OAF – Delivered at Frontier

DDP – Delivery Duty Paid

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Regarding DDU (Delivered Duty Unpaid), The buyer is responsible for the costs and risks for the unloading, duty and any subsequent ……… delivery beyond the place of destination

Before

Prior

Post

during

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In marine insurance, the haulier could be responsible for full value stated on the policy expect for losses arising from ………………….

Deterioration or variation in temperature

Damages due to delivery within the time of contract

Free storage

International losses

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