Question
Answer only please because have time limit. 1) Which of the following causes of loss are NOT covered in an ICC(C) policy? Select one: a.
Answer only please because have time limit.
1) Which of the following causes of loss are NOT covered in an ICC(C) policy?
Select one:
a. Water
b. Fire
c. Sinking
d. Collision
2) When the same risk and subject matter is insured with more than one insurer is called as:
Select one:
a. external insurance.
b. double insurance.
c. over insurance.
d. reinsurance.
3) When using the CIF delivery clause, which of the following responsibilities and rights are TRUE?
Select one:
a. Buyer pays the transport of the goods to a named destination while any risk of loss or deterioration of the goods or expense related to the goods is transferred from the seller to the buyer when the goods are delivered to the carrier.
b. Buyers take costs and responsibility quite literally from the factory gate.
c. Seller pays for all transportation costs and bears all risk until the goods have been delivered and pays the duty.
d. Seller puts the goods at the disposal of the buyer unloaded at the named terminal.
e. Seller must pay the costs and freight to bring the goods to the port of destination and to procure and pay for insurance for the buyer.
4) The assured must have an insurable interest in the policy when:
Select one:
a. a loss occurs.
b. the policy is effected.
c. the marine adventure begins.
d. it elects to acquire interest after a loss.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started