Exam pattern
- •Online exam
- •7 departments; you choose any 4
- •30 questions per department; answer up to 25
- •100 questions in 120 minutes
- •+1 for a correct answer, minus 1/3 for a wrong one
- •60% to qualify
The 7 departments
- 1. Fire & Engineering
- 2. Marine & Aviation
- 3. Motor (OD & TP)
- 4. Miscellaneous
- 5. Reinsurance
- 6. Finance (Accounts, Investment) & IT
- 7. HR & Legal
What you get
- ✓10 full mock tests, each with all 7 departments, so you choose your 4 like the real exam
- ✓2,100 new exam-style questions, none repeated, each with a worked explanation
- ✓Real exam rules: the 25-answer cap, negative marking and the 120-minute timer
- ✓A results report: your score, the marks lost to wrong guesses and your strongest departments
- ✓Access for 90 days
- ✓A free taster before you buy
Strategy tip: when to guess
With 4 options and minus 1/3 for a wrong answer, a blind guess averages zero: one chance in four of +1, three in four of minus 1/3. Rule out one option and the odds turn in your favour, so guessing between the remaining three pays on average.
Try free questions
No sign-in needed. Tap an option to see the answer and the explanation.
1. LOP facts: last year's net profit ₹40 lakh including ₹10 lakh non-trading income; standing charges ₹150 lakh of which ₹120 lakh insured; turnover ₹6 crore. Standard turnover ₹1.60 crore; actual turnover ₹90 lakh (₹30 lakh earned at hired premises costing ₹4.5 lakh); savings ₹1 lakh; annual turnover ₹7.2 crore; sum insured ₹1.5 crore. Claim payable?
2. A CL policy insures wages as follows: 15% of the wage roll in gross profit (indemnity period 18 months), 35% as a separate annual-method item (6 months) and 50% as another annual-method item (3 months). What proportion of the wage roll is protected during months 7 to 9 after the damage?
3. The 'Other Circumstances' or adjustment clause in a fire LOP specification is bracketed against which figures?
4. A bakery's key oven, bought second-hand, was insured under the fire policy at its historic cost, far below replacement cost. After a fire, the insured cannot fund a new oven for 5 months, extending the interruption. How will the LOP insurer treat the extra delay?
5. Under the limitation condition (Condition 4) of the fire consequential loss policy, the insurer is not liable after the later of which two dates, unless the claim is in action or arbitration?
6. A cement factory's fire LOP policy has an indemnity period of 6 months and sum insured ₹4 crore (annual gross profit). The basis rate is 2.00 per mille. Under the erstwhile CL tariff scale, continuous process plants pay 93.75% of the basis rate for this period. Annual premium?
7. A private multi-specialty hospital, whose income is almost entirely fees for services and whose medicines and consumables are a small part of costs, seeks business interruption cover. Which form is most appropriate?
8. An SFSP policy with the add-on 'architects, surveyors and consulting engineers fees in excess of 3%' permits fees up to 7.5% of the admitted loss. The building claim is ₹4 crore and actual fees are ₹34 lakh. Total fees recoverable?
9. A rubber processing unit adjoins a reserve forest. A wildfire in the forest spreads and burns its stores. The unit has an SFSP policy without add-ons. How is the claim treated?
10. As per IC-57, what combination of covers under an SFSP policy is essential for tsunami damage to be covered?
A note on eligibility. The coaching sites say Fast Track candidates must hold Associate or Fellowship. This is general guidance, not an official rule; check your company's notice. If you are working towards either, see our Associate Pack and Fellowship Pack.
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