All India Management Association (AIMA) 2007 M.B.A Marketing Management Business Law - II - Question Paper
Friday, 01 February 2013 11:30Web
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8. Eknath has taken 2 mediclaim policies from 2 various insurers. The 1st policy was for Rs.1,00,000 was taken from Reliable Insurance and the 2nd 1 for Rs.1,50,000 was taken from Medisure Insurance. Suddenly, 1 day Eknath had to be hospitalized for a serious health issue and he had to undergo surgery. A medical expenditure of Rs.1,80,000 was incurred by him. He is planning to file for claim. Which of the subsequent statements is actual in respect of the liability of the insurers?
(a) As the true expenditure is more than the coverage given by every insurer, Eknath cannot file any claim
(b) Reliable Insurance should pay an amount of Rs.1,00,000 and Medisure Insurance should pay the balance Rs.80,000
(c) Medisure Insurance should pay an amount of Rs.1,50,000 and Reliable Insurance should pay the balance Rs.30,000
(d) Both Reliable Insurance and Medisure Insurance should pay an equal amount of Rs.90,000 every
(e) Reliable Insurance and Medisure Insurance should pay the total amount of Rs.1,80,000 in the ratio of their respective liabilities i.e. 2:3.
( 2 marks)
9. Which of the subsequent is considered as an inland bill under the Negotiable Instruments Act, 1881?
(a) A bill drawn in Lucknow upon a resident of Paris, made payable in London
(b) A bill drawn in Muscat upon a resident of Delhi, payable in Singapore
(c) A bill drawn in Beijing upon a resident of Chennai, payable in Kolkata
(d) A bill drawn in Mumbai upon a resident of Bangalore, payable in Paris
(e) A bill drawn in London upon a resident of Paris, made payable in Singapore.
( 2 marks)
10. Marine insurance contract is a short term contract. The maximum period for which marine insurance can be taken is
(a) Period of voyage
(b) One year
(c) One year or period of voyage, whichever is longer
(d) Three years
(e) Five years.
( 1 mark)
11. Enforcement under the provisions of the SARFAESI Act, 2002 applies to
(a) Secured loans classified as non-performing assets
(b) Unsecured loans classified as non-performing assets
(c) Secured loans not classified as non-performing assets
(d) Unsecured loans not classified as non-performing assets
(e) Unsecured loans whether classified or not classified as non-performing assets.
( 1 mark)
12. Under the Negotiable Instruments Act, 1881, when a negotiable instrument is delivered conditionally or for a special purpose as a collateral security or for safe custody only, and not for the purpose of transferring absolutely property therein, it is called an
| Earning: Approval pending. |
