Insurance

1. What is the sue and labor clause?

2. What is deviation?
3. When is deviation proper?
4. What is: a) total loss; b) partial loss; c) actual total loss; and d)
constructive total loss, in marine insurance?
5. What is general average and particular average? Differentiate.
6. What is the FPA (Free from Particular Average) clause?
7. What is abandonment?
8. What are the requisites for the validity of abandonment?
9. How is abandonment made?
10. What are the effects of abandonment?
11. What are the rules in estimating a loss under an open policy
of marine insurance?
12. What is co-insurance?
13. Differentiate co-insurance from reinsurance.
14. What does fire insurance include?
15. What are the requisites for recovery in fire insurance?
16. Differentiate friendly fire from hostile fire.
17. What are the requisites for alteration as a ground for
rescission by the insurer?
18. What is the fall-of-building clause? The option to rebuild
clause?
19. What does casualty insurance cover?
20. What is a contract of suretyship?
21. What is the nature of liability of the surety?
22. What are the kinds of life insurance?
23. When is the insurer in a life insurance contract liable in case
of suicide?
24. What is microinsurance?
25. What does financial reporting framework include? What is
the purpose for the same?

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