Marine Cargo Insurance Quiz

What type of voyage is covered under Marine Cargo Insurance?

• Inter-Island transit only

• Domestic transit only

• All of the above

• Export-Import only

What is the coverage under Institute Cargo Clause A/B/C for 'Piracy, Theft, Pilferage, Non-delivery'?

• A

• B

• All is correct

• C

What is not covered under Marine Cargo Insurance?

• Unseaworthiness of Vessel

• Delay

• Nuclear Reactions

• All of the above

Who should purchase Marine Cargo Insurance in a CIF transaction?

• Carrier

• Customs

• Seller

• Buyer

What should be done when goods are delivered from ocean/air carriers, port authorities, customs & inland carriers?

• Ignore the condition of the goods

• Give 'Clean Receipt'

• None of the above

• Take remarks on delivery records

What is the first step in the claim procedure for an accident/loss?

• Claim Verification

• Assign Surveyor/Adjuster

• Claim Notification

• Submit Documentation

What documents are necessary for a claim of 'Theft/Pilferage'?

• Invoice, Packing List and B/L or AWB

• All of the above

• Original/Duplicate Insurance Policy

• Notice of Claim to Carriers and Responsible Carrier

What is the duration of War risks cover under Institute War Clause?

• None of the above

• Maximum 15 days after arrival of the oversea vessel/aircraft

• Until the goods are loaded onto the oversea vessel/aircraft

• Until the goods are discharged from an oversea vessel/aircraft at the final port/place of discharge

What is the purpose of 'Institute War Clause' in Marine Cargo Insurance?

• To cover losses due to war, civil war, and similar events

• To cover losses due to natural disasters

• To cover losses due to theft and pilferage

• All of the above

What is the coverage under Institute Cargo Clause for 'General Average'?

• Clause A

• Clause B

• Clause C

• All above is correct