Marine Insurance
Insurance Institute of India: Diploma Examination
Marine Insurance covers the fundamentals of marine cargo insurance: the classes of marine insurance and the marine market (Lloyd's, IUMI, the Indian market); how the principles of insurance apply to marine under the Marine Insurance Act; Incoterms and where cost and risk transfer; the Institute Cargo Clauses (A/B/C) and Inland Transit Clauses; marine underwriting and critical underwriting aspects; the documents used in marine cargo trade; and the types of marine cargo policies (open policy, open cover, STOP, stock throughput and DSU). Part of the Marine Insurance Diploma. 405 practice MCQs across 9 chapters.
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IC-60 exam at a glance
| Course | III Specialised Diploma in Marine Insurance |
|---|---|
| Exam | 2 hours, online, multiple choice |
| Pass mark | 60% (75% for distinction) |
405 practice + 125 Enhanced Practice
Across 9 chapters, every question reviewed and exam-aligned.
Tap a chapter to see what it covers.
1Introduction to Marine Insurance45 + 12 Enhanced questions45 + 12 Enhanced
Marine insurance categories, its history, Indian and international markets and the related legislation.
2Relevance of Principles of Insurance to Marine45 + 12 Enhanced questions45 + 12 Enhanced
Utmost good faith, insurable interest, indemnity, proximate cause, subrogation and contribution in marine insurance.
3Incoterms45 + 10 Enhanced questions45 + 10 Enhanced
Incoterms 2020: how they evolved and how each term splits cost, risk and responsibility.
4Marine Cargo Clauses - International Trade45 + 20 Enhanced questions45 + 20 Enhanced
Institute Cargo Clauses A, B and C, war and strikes clauses, and trade clauses.
5Marine Cargo Clauses - Inland Transit45 + 15 Enhanced questions45 + 15 Enhanced
Inland transit clauses for rail, road and coastal transit, old versus new versions, and postal sendings.
6Marine Insurance Underwriting45 + 12 Enhanced questions45 + 12 Enhanced
Marine underwriting factors, premium rating from data analysis, policy terms and marine reinsurance.
7Critical Underwriting Aspects45 + 20 Enhanced questions45 + 20 Enhanced
Critical underwriting aspects: exposure related to the cargo, the voyage or transit, and the conveyance.
8Documents Associated with Marine Cargo Insurance45 + 12 Enhanced questions45 + 12 Enhanced
Marine cargo documents issued by the insurer, the seller, the carrier and the banker.
9Types of Marine Cargo Policies45 + 12 Enhanced questions45 + 12 Enhanced
Types of marine cargo policies: specific, open policy, open cover, stock throughput and delayed start-up.
Draws from all 405 questions across every chapter, so no two attempts are the same.
The Advanced Mock Test draws from 125 Enhanced Practice questions.
IC-60: frequently asked questions
What does IC-60 cover?
IC-60 covers marine cargo insurance underwriting: marine insurance basics, insurance principles under the Marine Insurance Act, Incoterms, Institute and inland transit cargo clauses, underwriting factors, documents and types of cargo policies.
Which course is IC-60 part of?
The III Specialised Diploma in Marine Insurance. Since January 2016, diploma papers do not count as credit points towards Licentiate, Associateship or Fellowship.
What is the pass mark for IC-60?
60%. A score of 75% or more is a pass with distinction.
How long is the IC-60 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.
Related papers
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