Cargo Insurance Post Assessment

10 Questions | By Gward | Last updated: Mar 22, 2022 | Total Attempts: 103

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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 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
8.

A General Average guarantee must be posted to release the freight.
- A.
  
  True
- B.
  
  False
9.

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
10.

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

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