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PGI Sample Question

The document is a quiz on personal general insurance policies in Singapore. It covers topics like the types of compulsory vehicle insurance, documents required for insuring a vehicle, sections of a private motor car insurance policy, reasons for excess clauses, no claim discounts, premium warranty clauses, exclusions from liability, point rating systems, and factors considered in premium rates.

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953 views4 pages

PGI Sample Question

The document is a quiz on personal general insurance policies in Singapore. It covers topics like the types of compulsory vehicle insurance, documents required for insuring a vehicle, sections of a private motor car insurance policy, reasons for excess clauses, no claim discounts, premium warranty clauses, exclusions from liability, point rating systems, and factors considered in premium rates.

Uploaded by

leonese
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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PGI- Personal General Insurance

1. User of a motor vehicle in Singapore must have an in - force insurance policy which provides:

(A) indemnity for legal liabilities arising out of death

(B) indemnity from legal liabilities arising out of bodily injuries of a third party

(C) all of the above

(D) None of the above

2. What type of insurance policy/policies is/are compulsory for vehicle owners?

I. Act Liability

II. Third - Party Only

III. Third Party, Fire and Theft

(A) I only

(B) II only

(C) II & III

(D) All of the above

3. Which of the following statements is/are true?

I. Certificate of insurance is required when applying or renewing one's road tax

II. Cover notes are issued as interim documents pending receipt of other details needed for the issue
of a policy and a certificate

III. Policy documents are used to record changes in the terms and conditions of the standard
insurance policy

(A) I & II

(B) II only

(C) II & III

(D) All of the above


4. Which section of a Private Motor Car Insurance Policy is known as Own Damage?

(A) Personal Accident Benefits

(B) Medical Expenses

(C) Liability to Third Party

(D) Insurance on the Motor Vehicle

5. Which of the following are the reasons for including excess clause in Private Motor Car Insurance?

(A) To make the insured responsible for the portion of the loss

(B) To reduce the liability to the insurer for large claims

(C) To avoid terminating the policies of the insured with bad claims experience

(D) All of the above

6. Which of the following statements describes No Claim Discount?

(A) It is a financial incentive for the insured for not making any claims under the policy

(B) If there is a no claim made during a period of insurance immediately before the renewal of the

policy, a No Claim Discount will be granted on the 3rd renewal

(C) If a claim is made during the policy year whilst the insured is enjoying a No Claim Discount, the

No Claim Discount will be increased at the next renewal

(D) None of the above


7. Which of the following statements regarding premium warranty clause is true?

I. Insured is required to pay the full premium within 60 days from the date of inception of the
coverage

II. If the premium is not paid within 60 days requirement, the policy will be terminated from the
expiry date of the premium warranty period

III. If the policy is terminated due to not meeting the 60 days requirement of premium paying, the
insurer will not be entitled to a pro - rata premium for the period they have been at risk

(A) I & III

(B) I & II

(C) II & III

(D) All of the above

8. Under the Private Motor Car Insurance, the insurer is not liable for any accident, loss or damage
caused by:

(A) war

(B) strike

(C) seizure

(D) All of the above

9. Which of the following statements best describe the point rating system?

(A) Points are awarded to various risk factors, based on the industry's risk profile

(B) Points are awarded to various risk factors, based on the industry's or insurer's risk profile

(C) Points are awarded to various risk factors, based on the industry's risk profile and claim
experience

(D) Points are awarded to various risk factors, based on the industry's or insurer's risk profile and
claim experience
10. The following factors are considered in the premium rating structure to ascertain the premium
rate:

(A) car usage

(B) make and model of the car

(C) car engine capacity

(D) All of the above

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