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I.Multiple-choicequestions:1.Asatypeofperilsofthesea,tsunamiis____.a.anaturalcalamityb.afortuitousaccidentc.anadditionalriskd.ageneralextraneousrisk2.Asatypeofperilsofthesea,beingstrandedis____.a.anaturalcalamityb.afortuitousaccidentc.anadditionalriskd.ageneralextraneousrisk3.Inoceantransit,sacrificesresultedfromthejettisoningofsomecargoesonashiptokeeptheshipafloatduringastormare____.a.ageneralaverageb.aparticularaveragec.atotalactuallossaconstructivetotalloss4.Inoceantransit,whenthesubjectmatterinsuredisirretrievabledeprivedthereof,thereis____.a.aconstructivelossb.anactualtotallossc.ageneralaveraged.aparticularaverage5.Inoceantransit,thesubjectmatterinsured--aprecisioninstrumentamountingtoUSD100,000wasbadlydamaged,thecostofrecoveringitwouldbeUSD120,000.Insuchcase,thelosswas____.a.aconstructivetotallossb.anactualtotallossc.apartiallossd.atotalloss6.Thelossescausedbytheftinoceantransitarerecoverableifthegoodshadbeeninsuredagainst____.a.FPAb.WPAc.ALLRISKSd.anyofthegeneraladditionalinsuranceintheICC7.Whichofthefollowingrisksis/arecoveredbyAllRisks?a.Warb.Strikesanddelayc.TPNDd.Aflatoxinandondeck8.Whichofthefollowingdoesnotcoverpartiallossordamagecausedbynaturalcalamities?a.WAb.FPAc.ARd.ICC(A)9.ThewidestinsurancecoverageinICCis____.a.ICC(A)b.ICC(B)c.ICC(C)d.ICC(D)10.IftheinsuredamountisnotclearlystatedinCIFcontract,itiscustomarytoinsurefor____.a.100%CIFpriceb.110%CIFpricec.115%CIFpriced.120%CIFpriceII.TorFquestions:1.Warehousetowarehouseclauseisashipmentclausemeaningthatthecarrierisresponsibleforshippingthegoodsfromtheseller’swarehousetothebuyer’swarehouse.2.BothgeneraladditionalrisksandspecialadditionalrisksintheOceanMarineCargoClauseofthePICCcanbecoveredindependently.3.AlthoughAllRisksintheOceanMarineCargoClauseofthePICCdoesnotcoverspecialadditionalrisks,itcoversgeneraladditionalrisks.III.Casestudy1.Avesselcarryingabulkgoodoforewasstranded.Somegoodsweredamaged,inanattempttogetfree,someorewerejettisoned,boththeengineandtheshipweredamaged,andasalvagevesselwasemployed.Theshipwasrefloatedin2daysandputintoaportrefugeforrepair.Thedamage,chargeswereasfollows:1)Goodsdamagedbecauseofstranding:USD10,0002)Jettisonedcargo:USD20,0003)Serviceofsalvagevessel:USD65,0004)Refugeeandothercharges:USD35,000Whichoftheabovedamagesorchargesshallbeallowedasgeneralaverage?Why?IV.Brieflydefinetheconcepts:1.Generalaverage2.W/Wclause
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