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WorksheetsConsequential Loss
Total questions: 6
Worksheet time: 3mins
Will consequential loss policy covers profit already earned?
Yes
No
Material damage provise refer to _______________
A CL policy will only operate to cover loss of gross profit and increase of working if the policyholder’s interest in the subject matter of the loss is also covered.
A CL policy will only operate to cover loss of gross profit, even the policyholder’s interest in the subject matter of the loss is not covered.
A CL policy will only operate to cover loss of gross profit and increase of working, even the policyholder’s interest in the subject matter of the loss is not covered.
In selecting an indemnity period, the time required for the following need to be considered:
Demolition and site clearance/ removal of debris
Repair
Replacement of stocks
Delivery and installation of new machinery
These are the basis of indemnity, EXCEPT :
Gross profit = Net Profit + All Standing Charges
Gross profit = Net Profit + Variable Charges
Gross profit = Turnover + Closing stock – [Opening stock + Uninsured Working Expenses]
Specified Customer Extension covers loss arising from the damage to specified customers’ premises located in ______________
Malaysia
Thailand
Singapore
Brunei
When a shopkeeper cannot reach his premises because of a fire in adjacent building bars access, this situation can be cover under_____________
Public Utilities Extension
Specified Supplier Extension
Prevention of Access Extension
