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BAGame3

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10 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

All marine insurance contracts are in principles contracts of utmost good bargain.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Insurance was developed as a result of the existence of:

hazards.

indemnity.

loss.

risk.

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The type of losses generally covered by marine insurance policy include general average losses and weighted average losses.

True

False

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Notice of abandonment is necessary in the case of actual total loss.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which are the correct disadvantages of Arbitration?

Legal point, flexible, fees expensive and delays

Fees expensive, legal point, delays and limited appeal

Limited appeal and its quick

Flexible

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Litigation, Arbitration, Mediation and Negotiation are methods of ADR.

True

False

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Litigation is a meeting between the parties where an impartial third party facilitates discussions.

True

False

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