Marine Paper Questions asked in Para 13.2 Exam : 5 November 2022 Exam

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Aug 6

Para 13.2 Exam 2022 Questions Asked In Marine Subject: 5 November 2022 Exam

As we all know that IBPS conducted Para 13.2 exam for Assistant every year for promotion in insurance sector. So here we are proving the Questions Asked in Marine Subject 2022 exam. You can Check the Marine Questions Asked in para 13.2 exam 2022.

The Para 13.2 previous year Technical Paper (Paper 1) Questions will help the aspirant in better preparation and plan according to it. Having an idea about the previous year questions of the Para 13.2 exam will help the aspirant to plan the strategy for the preparation of the exam of the current year.

Bottomry loans : Raised to generate finance
Guidelines etc. for the following were also withdrawn: Tea, Coffee, Rubber and Cardamom: With effect from 1st April 2004 tariffs
What are P and I clubs: A non-profit association for collective self-insurance.
The Insurance Act: 1938
If a representation relates to" material fact": Then the representation must be true.
cargo insurance is generally arranged for: 110% of CIF
Insurers are liable if an insured Peril: The proximate cause of the loss

8 . liner" vessels operating to regular advertised itineraries the age limit is extended: 25 years.

Washing Overboard" covered under: ICC B
INCOTERMS are effective from 1st January 2011.
Terrorism covered under: SRCC
Piracy covered under? - ICC A
Second hand Replacement Clause: Full cost of new parts, in case of damage are payable
spontaneous combustion covered under- Institute coal clause.
Cargo of bulk oil can be insured either under- ICC (C), (B) or (A) or it can be also insured under Institute Bulk Oil Clauses (IBOC).
Full package Policy storage cover for cardamom: 120 days
Under Annual policy represents maximum value of goods on risk at any one time during the policy period: Sum Insured
Export Incentives policy provides for cover which is equivalent to - FOB value + Export incentives +10%.
Sellers' interest contingency insurance The extra expenses incurred by the seller following a reversion of the goods to him are- Not covered.
Freight contingency insurance- 20% cap on liability
Hull Policies can be issued either On : time basis or voyage basis.
As per the Marine Insurance Act 1963, a time policy cannot be issued for a longer period than : 12 months.
ULCC (Ultra Large Crude Carrier) is used for tankers of the capacity of: 1,50,000 Tons DWT to 3,00,000 Tons DWT.
RO-RO vessel does not have any cranes
These are used mainly to dig up sand, mud, gravel etc. from the sea: Dredgers
Ship classification Societies : Indian Register of Shipping

General average (GA) loss : extraordinary in nature, voluntarily and reasonably incurred, in time of general peril, for the common safety of the maritime adventure
In respect of marine claims arising and payable outside India, they are adjusted and settled by : Claims Settling Agents
Ports which are not major ports are governed by-The Indian Ports Act, 1908
Application for refund should be made to the----------------- within 6 months of the payment of duty- Assistant Controller of Customs
UCP Full form Only- Uniform Customs and Practice for Documentary Credits
It is the duty of the--------------- to assist the Master of any ship in distress- Lloyd's Agent

33.the corollary of the principle of indemnity- Subrogation

In DAP, DDP, DAT , Who arranges the insurance-Buyer
In increased value insurance-The rate of premium shall be 100%
cover can be arranged, subject to due notice and payment of additional premium-Held covered
capacity in tons of the cargo required to load a ship to her loadline level – DWT
establish standards, guidelines and rules for the design, construction and survey of ships and of other marine structures-Ship classification societies
the assembling of one or more packages or items into a compact load, secured together and provided with skids for easy handling-Unitising
-------------has the features of both facultative cessions and obligatory treaties- The Facultative Obligatory Treaty (Fac-Oblig)