Cargo Insurance Post Assessment
10 Questions
| Total Attempts: 81
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Questions and Answers
- 1.What is the single largest cause of cargo loss?
- A.
Pirates
- B.
Natural Disasters
- C.
Accidents
- D.
Theft on land
- 2.The _______________ is a set of international rules for the international carriage of goods by sea.
- A.
Rotterdam Rules
- B.
Carriage of Goods by Sea Act (COGSA)
- C.
Hague-Visby Rules
- 3.What is not one of the Hague-Visby Defenses?
- A.
Act of God
- B.
Insufficiency of packing
- C.
Attack by pirates or other vessels
- D.
Quarantine Restrictions
- 4.The law of ____________ is a legal principle of maritime law according to which all parties in a sea venture proportionally share any losses resulting from a voluntary sacrifice of part of the ship or cargo to save the whole in an emergency.
- A.
General Proportion
- B.
General Average
- C.
General Means
- D.
General Sacrifice
- 5.What is the premise of the Hague-Visby rules?
- A.
The carrier has a far greater bargaining power than the shipper.
- B.
The shipper has a far greater bargaining power than the carrier.
- C.
The customer has a far greater bargaining power than the shipper.
- 6.What is not a listed coverage under FPA?
- A.
Fire or Explosion
- B.
Jettison
- C.
Sinking or Stranding
- D.
Late Arrival
- 7.What state's abbreviation is a term that adds “perils of heavy weather” to the FPA coverage?
- A.
VT
- B.
WA
- C.
CA
- D.
GA
- 8.What is not an example of a typical exclusion to all-risk coverage?
- A.
Improper packing
- B.
Inherent vice
- C.
Lack of funds
- D.
Rejection/delay by Customs
- 9.A General Average guarantee must be posted to release the freight.
- A.
True
- B.
False
- 10.What is the recovery limit per package designated by the Carriage of Goods by Sea Act (COGSA) when a carrier/NVOCC is negligent?
- A.
$500
- B.
$1000
- C.
$1500
- D.
$2500
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