Question
71
What may result in avoidance of the contract or damages?
What may result in avoidance of the contract or damages?
Options
a
Breach of the duty to disclose a waiver of subrogation rights
Breach of the duty to disclose the waiver of subrogation rights
b
Breach of the duty to pay the premium
Breach of the duty to pay the premium
c
Breach of the duty to submit a claim on time
Breach of the duty to submit a claim on time
d
Breach of the duty to choose the correct insurer
Breach of the duty to choose the correct insurer
Grade
Ungraded
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Question
72
What is the difference between subrogation and assignment and waiver?
What is the difference between subrogation and assignment and waiver?
Options
a
Subrogation involves the insurer taking the place of the insured in claims against third parties
Subrogation involves the insurer taking the place of the insured in claims against third parties
b
Subrogation involves the assignment of the insured's claim to the insurer
Subrogation involves the assignment of the insured's claim to the insurer
c
Subrogation involves the waiver of the insured's claim rights
Subrogation involves the waiver of the insured's claim rights
d
Subrogation does not affect the relationship between the insured and the insurer
Subrogation does not affect the relationship between the insured and the insurer
Grade
Ungraded
Last Update
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Question
73
What happens in subrogation in marine insurance?
What happens in subrogation in marine insurance?
Options
a
The insurer takes the place of the insured in third-party claims
The insurer takes the place of the insured in third-party claims
b
The insured takes the place of the insurer in third-party claims
The insured takes the place of the insurer in third-party claims
c
The insurer pays the premium to the insured
The insurer pays the premium to the insured
d
A third party takes the place of the insured in the insurer's claim
A third party takes the place of the insured in the insurer's claim
Grade
Ungraded
Last Update
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Question
74
What does the insurer do in subrogation in respect of the loss suffered by the insured?
What does the insurer do in subrogation in respect of the loss suffered by the insured?
Options
a
Indemnifies the insured
Indemnifies the insured
b
Cancels the insurance policy
Cancels the insurance policy
c
Reduces the premium
Reduces the premium
d
Submits a claim against the insured
Submits a claim against the insured
Grade
Ungraded
Last Update
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Question
75
What is the main issue in subrogation against co-insureds under a joint insurance contract?
What is the main issue in subrogation against a co-insured under a joint insurance contract?
Options
a
Construction of the underlying contract
The construction of the underlying contract
b
Payment of the premium
Payment of the premium
c
Insurance recovery
Insurance recovery
d
Third-party claims
Third-party claims
Grade
Ungraded
Last Update
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Question
76
What is covered by hull and machinery insurance?
What is covered by hull and machinery insurance?
Options
a
The ship and its mechanical parts
The ship and its mechanical parts
b
The ship's machinery only
Only the ship's machinery
c
The ship's hull only
Only the ship's hull
d
The ship's cargo
The ship's cargo
Grade
Ungraded
Last Update
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Question
77
What is included among the main perils covered by a hull and machinery policy?
What is included among the main perils covered by a hull and machinery policy?
Options
a
Lightning, explosion, and accidents in loading
Lightning, explosion, and accidents during loading
b
Piracy, theft, and earthquake
Piracy, theft, and earthquake
c
Theft, shaft damage, and lightning
Theft, shaft damage, and lightning
d
Explosion, fire, and barratry
Explosion, fire, and barratry
Grade
Ungraded
Last Update
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Question
78
What is explained by the Inchmaree clause?
What is explained by the Inchmaree clause?
Options
a
Negligent acts of the crew or repairers, and barratry
Negligent acts of the crew or repairers, and barratry
b
Piracy and theft
Piracy and theft
c
Perils of the sea such as storms and heavy waves
Perils of the sea such as storms and heavy waves
d
Earthquake and lightning
Earthquake and lightning
Grade
Ungraded
Last Update
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Question
79
What is meant by marine loss recoverable under a marine insurance policy?
What is meant by marine loss recoverable under a marine insurance policy?
Options
a
A fortuitous and accidental loss
A fortuitous and accidental loss
b
An intentional loss
An intentional loss
c
A loss caused by latent defect
A loss caused by latent defect
d
A loss caused by the insurer's negligence
A loss caused by the insurer's negligence
Grade
Ungraded
Last Update
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Question
80
What is meant by wear and tear and unseaworthiness in the context of marine insurance?
What is meant by wear and tear and unseaworthiness in the context of marine insurance?
Options
a
The poor condition of the vessel
The poor condition of the ship
b
Perils encountered at sea
Perils encountered at sea
c
Mechanical faults in the ship's machinery
Mechanical failure in the ship's machinery
d
Sacrifice of part of the vessel
Sacrifice of part of the ship
Grade
Ungraded
Last Update
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