Fire Insurance Claims
Insurance Institute of India: Diploma Examination
Practice MCQs for III Specialised Diploma paper IC-56 Fire Insurance Claims: fire policy principles, Standard Fire & Special Perils and Bharat (Laghu/Sukshma/Griha Raksha) policies, conditions & warranties, claims procedure, surveying, amount of claim payable (average clause, RIV, contribution), legal aspects and grievance redressal. 456 chapter-wise questions with worked solutions.
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IC-56 exam at a glance
| Course | III Specialised Diploma in Fire Insurance |
|---|---|
| Exam | 2 hours, online, multiple choice |
| Pass mark | 60% (75% for distinction) |
Across 12 chapters, every question reviewed and exam-aligned.
Tap a chapter to see what it covers.
1Basic Principles38 questions38
Basic principles of fire insurance: the Indian Contract Act and common law principles like indemnity.
2The Standard Fire and Special Perils, Laghu, Sukshma & Griha Raksha Policies44 questions44
Standard Fire and Special Perils, Bharat Laghu, Sukshma and Griha Raksha policies: perils, exclusions and add-ons.
3Conditions and Warranties38 questions38
Fire policy conditions and warranties: implied conditions, the express conditions and their effect on claims.
4Claims - Procedural Aspects40 questions40
Fire claim procedure: registration, claim forms, surveyor appointment, settlement, co-insurance and salvage disposal.
5Rights and Duties of Parties36 questions36
Rights and duties of insured and insurer: good faith, notice of loss, insurer rights after loss.
6The Amount of Claim Payable - 140 questions40
Amount of claim payable: fair indemnity, kinds of value, and buildings, machinery and stock claims.
7The Amount of Claim Payable - 240 questions40
Amount of claim payable: salvage, the pro rata average condition and how subrogation works.
8Special Policies40 questions40
Special fire policies: reinstatement value policies, declaration policies and floating policies.
9The Process of Surveying42 questions42
Surveying process: surveyor appointment and duties, inspecting the loss site, assessment and the survey report.
10Claims - Some Legal Aspects38 questions38
Legal aspects of fire claims: proximate cause, insured and excluded perils, waiver, estoppel and policy interpretation.
11Case Studies on Critical Claims30 questions30
Fire claims case studies: numerical illustrations on assessment, depreciation, underinsurance and critical claims.
12Various Redressal Forums Available30 questions30
Grievance redressal for policyholders: insurer grievance cells, IRDAI, consumer forums and the Insurance Ombudsman.
Draws from all 456 questions across every chapter, so no two attempts are the same.
IC-56: frequently asked questions
What does IC-56 cover?
IC-56 covers fire insurance claims: basic principles, standard fire and Bharat policies, conditions and warranties, claim procedures, measuring the claim, special policies, surveying, legal aspects and redressal forums.
Which course is IC-56 part of?
The III Specialised Diploma in Fire Insurance. Since January 2016, diploma papers do not count as credit points towards Licentiate, Associateship or Fellowship.
What is the pass mark for IC-56?
60%. A score of 75% or more is a pass with distinction.
How long is the IC-56 exam?
2 hours. It is an online exam with multiple choice questions.
When will I know my result?
You see your score right after the online exam. The formal result usually follows within about a month.
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