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IRDAI Surveyor Engineering (S-05) study materials
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IRDAI Surveyor Engineering (S-05) practice questions

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Question 1Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Under the IRDAI (Insurance Surveyors and Loss Assessors) Regulations, which body grants a licence to act as a surveyor and loss assessor?

  1. The Department of Financial Services, Ministry of Finance
  2. The Insurance Institute of India
  3. The Insurance Regulatory and Development Authority of India Correct answer.
  4. The concerned regional office of the insurer

Explanation

The Regulations vest licensing authority in IRDAI, which issues the surveyor licence in the specified form and category after satisfying itself about eligibility and the required deposit and examination requirements. The Institute only conducts examinations and training, and insurers have no power to license surveyors.

Question 2Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor licence issued under the IRDAI Surveyors Regulations remains valid for how long, subject to renewal?

  1. Ten years
  2. Five years Correct answer.
  3. Three years
  4. One year

Explanation

The Regulations provide a licence validity of five years, and the holder must apply for renewal before expiry in the prescribed manner. A lapsed licence cannot be used to conduct surveys until renewal is granted.

Question 3Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Which category of surveyor licence is required to survey and assess losses relating to marine hull and cargo claims?

  1. Category B only
  2. A licence in the appropriate category covering marine business Correct answer.
  3. Category C only
  4. Category A only

Explanation

Surveyor licences are granted in categories that correspond to defined classes of insurance business, and a surveyor may act only within the category or categories endorsed on the licence. Marine hull and cargo losses therefore require the appropriate marine category authorisation.

Question 4Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Before a licence is granted, an applicant surveyor is generally required to furnish a bank guarantee or deposit with IRDAI in order to:

  1. guarantee payment of the applicant's income tax dues
  2. fund the Insurance Regulatory and Development Authority's administrative budget
  3. purchase professional indemnity cover on the applicant's behalf
  4. secure performance and professional conduct obligations Correct answer.

Explanation

The Regulations require a deposit or bank guarantee as security for due performance of the surveyor's statutory and professional obligations. It is refundable on cessation of practice subject to the conditions in the Regulations, and is not a substitute for professional indemnity insurance.

Question 5Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

An insurer appoints a surveyor for a claim. Within what period must the surveyor ordinarily submit the survey report to the insurer?

  1. Within 30 days of appointment, extendable with the insurer's written approval Correct answer.
  2. Within 7 days of appointment in all cases
  3. Within 6 months of the policy inception
  4. Within 90 days of the loss being reported

Explanation

The Regulations require the surveyor to submit the report within thirty days of appointment, and where the survey cannot be completed in time, an extension may be sought from the insurer in writing. A short fixed period would not accommodate complex losses, while open-ended timelines defeat the purpose of the rule.

Question 6Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor is offered an assignment on a claim where the surveyor's close relative is a director of the insured company. What is the correct course of action under the Regulations?

  1. Accept the assignment if the insurer gives oral consent
  2. Accept the assignment and disclose the relationship in the report
  3. Decline the assignment because of the conflict of interest Correct answer.
  4. Accept the assignment and delegate the inspection to a junior

Explanation

The Regulations require a surveyor to be independent and to avoid any conflict of interest, including relationships with the insured or insurer that could affect impartiality. Disclosure after the event does not cure the conflict, so the assignment should be declined.

Question 7Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Which requirement must a licensed surveyor satisfy to continue holding the licence in terms of professional development?

  1. Employ a minimum of two qualified assistants
  2. Attend a prescribed number of training or continuing education hours Correct answer.
  3. Maintain an office in every state where surveys are done
  4. Publish at least one technical paper each year

Explanation

The Regulations require surveyors to undergo prescribed training or continuing professional education to keep the licence in force. Publishing papers, employing assistants, or opening offices in every state are not statutory conditions of holding a licence.

Question 8Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor licensed to survey fire losses is asked to assess a motor own-damage claim. What should the surveyor do?

  1. Conduct the survey because all licensed surveyors are competent for all classes
  2. Refer the claim to the insurer's in-house engineer without comment
  3. Conduct the survey and mention the licence limitation in the report
  4. Decline the assignment as it falls outside the licensed category Correct answer.

Explanation

A surveyor may act only in the class or classes of business for which the licence is granted, so an out-of-category assignment must be declined. Acting beyond the licence category would breach the Regulations regardless of the surveyor's personal competence.

Question 9Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Which of the following is a duty of the surveyor towards the insured during a loss assessment?

  1. To act as the insured's advocate against the insurer
  2. To guarantee that the claim will be paid in full
  3. To explain the assessment process and seek necessary documents fairly Correct answer.
  4. To advise the insured on how to inflate the claim

Explanation

The surveyor must conduct the assessment fairly and independently, informing the insured of the process and seeking the documents needed to quantify the loss. The surveyor is neither the insured's advocate nor a guarantor of payment, and must never assist in inflating a claim.

Question 10Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

An insurer rejects a survey report and appoints a second surveyor for the same loss. Under the regulatory framework, the second surveyor should:

  1. adopt the first report without independent verification
  2. ignore the first report entirely and start afresh
  3. report the first surveyor to IRDAI for misconduct
  4. review the earlier report and record reasons for any different conclusion Correct answer.

Explanation

Where a second survey is ordered, the later surveyor is expected to consider the earlier findings and give reasoned justification for any departure. This preserves transparency and avoids arbitrary reversal of an independent assessment.

Question 11Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Which record-keeping obligation applies to a licensed surveyor in respect of surveys conducted?

  1. Maintain records of surveys and reports for the prescribed period Correct answer.
  2. Retain records only if the insurer requests them
  3. Destroy all working papers once the report is submitted
  4. Send all original documents to IRDAI immediately

Explanation

Surveyors are required to maintain proper records of the surveys undertaken and the reports issued for the period prescribed under the Regulations, so that they can be produced for inspection or inquiry. Records cannot be discarded at will after submission of the report.

Question 12Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor accepts a fee that is contingent on the assessed loss amount being above a certain figure. This arrangement is:

  1. permissible if approved by the insurer's claims committee
  2. permissible if disclosed to the insured
  3. permissible for losses above the deductible
  4. prohibited because remuneration must not depend on the claim outcome Correct answer.

Explanation

Remuneration of a surveyor must not be linked to the amount of loss assessed, because such contingency compromises independence and creates an incentive to inflate or deflate the claim. Disclosure or internal approval cannot cure this structural conflict.

Question 13Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Which statement best describes the surveyor's role in the claims process under the regulatory framework?

  1. To settle the claim directly with the insured
  2. To decide whether the insurer should repudiate the claim
  3. To independently assess and quantify the loss and report to the insurer Correct answer.
  4. To audit the insurer's underwriting practices

Explanation

The surveyor's statutory function is to assess and quantify the loss independently and report the findings to the insurer, which then decides on admission or repudiation. The surveyor does not settle claims, decide repudiation, or audit underwriting.

Question 14Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor is asked to assess a loss where the sum insured appears inadequate and the policy contains an average clause. The surveyor should:

  1. advise the insured to increase the sum insured retrospectively
  2. apply the average clause and report the reduced payable amount with workings Correct answer.
  3. report only the gross loss without commenting on adequacy
  4. ignore the average clause and recommend the full loss

Explanation

Where the policy contains an average or under-insurance clause, the surveyor must apply it and show the calculation of the reduced amount payable in the report. Ignoring the clause or omitting the adequacy analysis would give the insurer an incomplete and misleading assessment.

Question 15Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Which of the following would most likely lead to cancellation or suspension of a surveyor's licence by IRDAI?

  1. Failing to attend a voluntary industry seminar
  2. Knowingly issuing a false or fabricated survey report Correct answer.
  3. Submitting a report after the approved extension period
  4. Declining an assignment outside the licensed category

Explanation

Knowingly issuing a false or fabricated report is a serious breach of professional conduct and can attract cancellation or suspension of the licence after inquiry. Timelines, voluntary events, and proper declination of out-of-category work are not grounds for licence action.

Question 16Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A licensed surveyor wishes to use the title 'IRDAI-approved surveyor' on professional letterheads. Under the regulatory framework, the surveyor may:

  1. use the title only after paying an additional fee
  2. use the title freely because the licence is issued by IRDAI
  3. use the title only for motor claims
  4. describe the licence category accurately without implying endorsement Correct answer.

Explanation

A licensed surveyor may state the fact and category of the licence but must not suggest that IRDAI endorses the surveyor's professional services or competence. Misleading use of the regulator's name in advertising is improper.

Question 17Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

In relation to the surveyor's report, the Regulations require that it contain which of the following?

  1. The surveyor's opinion on the insured's creditworthiness
  2. Details of the loss, cause, and amount assessed with supporting basis Correct answer.
  3. A recommendation on the insurer's reinsurance treaty
  4. The insured's confidential tax returns

Explanation

The survey report must set out the nature and cause of the loss, the quantum assessed, and the basis or workings supporting that assessment. Matters such as creditworthiness, reinsurance, and tax returns fall outside the surveyor's statutory remit.

Question 18Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor is appointed on a claim where the loss is below the insurer's threshold for mandatory survey. The surveyor should:

  1. advise the insurer to close the claim without payment
  2. refuse the appointment because a survey is not mandatory
  3. conduct the survey if validly appointed and report findings Correct answer.
  4. increase the assessed amount to justify the survey fee

Explanation

Thresholds determine when a survey is compulsory; they do not prohibit an insurer from appointing a surveyor voluntarily. If validly appointed, the surveyor should conduct the assessment and report the findings honestly.

Question 19Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Which of these best explains why the Regulations require a surveyor to be independent of the insurer and insured?

  1. To speed up claim settlement
  2. To allow the surveyor to set the claim amount
  3. To ensure the assessment is objective and protects both parties' interests Correct answer.
  4. To reduce the insurer's administrative costs

Explanation

Independence is required so that the surveyor's assessment is objective and reliable, protecting the insured against under-assessment and the insurer against inflated claims. Speed, cost reduction, and claim-setting power are not the rationale for independence.

Question 20Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor learns during a survey that the insured may have concealed a material fact. The surveyor should:

  1. ignore the issue and assess only the visible damage
  2. report the suspected non-disclosure to the insurer with reasons Correct answer.
  3. advise the insured to withdraw the claim quietly
  4. settle the matter directly with the insured

Explanation

The surveyor must report material facts relevant to the insurer's liability, including suspected non-disclosure or misrepresentation, with supporting reasons. Concealing such findings or privately negotiating with the insured breaches the surveyor's duty.

Question 21Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

The fee payable to a surveyor for a claim survey is governed by:

  1. the reinsurer's approval
  2. the scale or basis specified under the regulatory framework and agreed with the insurer Correct answer.
  3. the insured's written instruction
  4. the surveyor's unilateral discretion

Explanation

Survey fees are governed by the scale or basis prescribed under the regulatory framework and the terms agreed with the appointing insurer. Neither the surveyor nor the insured can unilaterally fix the fee, and reinsurer approval is not required.

Question 22Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor licensed under the Regulations is appointed to assess a large industrial fire loss involving complex machinery. Which approach best meets professional standards?

  1. Assess the loss on a like-for-like basis without considering depreciation
  2. Estimate the loss from photographs supplied by the insured
  3. Rely solely on the insured's books without physical verification
  4. Engage qualified specialists where needed and record their inputs in the report Correct answer.

Explanation

For complex losses, the surveyor may engage qualified specialists and must record and consider their inputs while retaining responsibility for the report. Relying only on books, photographs, or ignoring depreciation would compromise the accuracy of the assessment.

Question 23Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Which of the following statements about the renewal of a surveyor licence is correct?

  1. Renewal is granted only if the surveyor has surveyed at least one claim
  2. The renewal application must be made in the prescribed manner before expiry Correct answer.
  3. A lapsed licence revives automatically on payment of a late fee
  4. The licence renews automatically without any application

Explanation

Renewal is not automatic; the holder must apply in the prescribed manner, generally before the licence expires, and satisfy the prevailing conditions. A lapsed licence does not revive automatically and may require fresh compliance.

Question 24Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor who is also a director of a company that repairs insured vehicles should, when appointed to survey a motor claim involving that repairer:

  1. proceed because repairers are not insurers
  2. decline the appointment due to the conflict of interest Correct answer.
  3. proceed and recommend the repairer to the insurer
  4. proceed and note the relationship only if asked

Explanation

A financial or directorial interest in a repairer creates a conflict of interest that compromises the independence of the loss assessment. The surveyor should decline the appointment rather than proceed and rely on later disclosure.

Question 25Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Which of the following correctly describes the obligation of a surveyor when the insured fails to provide documents required for assessment?

  1. Assess the loss on the best available information and record the non-cooperation Correct answer.
  2. Increase the assessed amount to penalise the insured
  3. Reject the claim on behalf of the insurer
  4. Close the file without any report

Explanation

The surveyor should proceed on the best available information and record the insured's non-cooperation in the report so the insurer can take an informed view. The surveyor cannot reject the claim, close the file without a report, or inflate the assessment as a penalty.

Question 26Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Under the IRDAI (Insurance Surveyors and Loss Assessors) Regulations, into which broad categories of survey work is a licence granted to a surveyor?

  1. Fire, Marine and Miscellaneous Correct answer.
  2. Life, Health and Pension
  3. Motor, Crop and Cattle
  4. Engineering, Aviation and Liability

Explanation

The Regulations classify survey licences into the three departments of Fire, Marine and Miscellaneous, mirroring the traditional departmental structure of general insurance. A licence in one department authorises survey work only within that department, and separate licences are needed for additional departments.

Question 27Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A person applying for a surveyor licence must satisfy which minimum educational qualification requirement under the regulatory framework?

  1. A master's degree in commerce with insurance specialisation
  2. A diploma in insurance sales obtained after secondary schooling
  3. A bachelor's degree in any discipline from a recognised university
  4. A pass in the Insurance Institute of India surveyor examination or an equivalent technical qualification recognised by IRDAI Correct answer.

Explanation

The licensing framework requires applicants to hold a recognised technical or professional qualification relevant to the department applied for, typically evidenced by passing the prescribed surveyor examination or holding an equivalent qualification. General degrees without a relevant technical or insurance component do not by themselves satisfy the eligibility criteria.

Question 28Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A licensed surveyor changes office address and fails to inform IRDAI within the prescribed period. What is the regulatory consequence?

  1. The licence automatically lapses and cannot be revived
  2. No consequence arises because address changes are outside the Regulations
  3. The insurer, not the surveyor, must report the change
  4. The change is treated as a breach of licence conditions, exposing the surveyor to disciplinary action Correct answer.

Explanation

Licence conditions require the surveyor to keep IRDAI informed of material particulars, including the place of practice, within the prescribed time. Failure to do so is a breach of the conditions and can attract disciplinary action, though it does not automatically extinguish the licence.

Question 29Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Which body is designated as the licensing authority for insurance surveyors under the regulatory framework?

  1. The Insurance Regulatory and Development Authority of India Correct answer.
  2. The General Insurance Council
  3. The Insurance Institute of India
  4. The Tariff Advisory Committee

Explanation

IRDAI is the statutory regulator empowered to grant, renew, suspend and cancel surveyor licences under the Insurance Act and the surveyor Regulations. The other bodies have professional, industry or tariff-related roles but no licensing power over surveyors.

Question 30Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

An insurer appoints a surveyor to assess a loss, and the surveyor delegates the entire physical inspection and report preparation to an unlicensed assistant who signs the report. How is this treated under the Regulations?

  1. Impermissible, because the licensed surveyor must personally conduct the survey and sign the report Correct answer.
  2. Acceptable if the claim value is below the insurer's internal threshold
  3. Acceptable if the assistant works under the surveyor's general supervision
  4. Permissible only with the prior written consent of the insured

Explanation

The licence is personal to the surveyor, who is responsible for conducting the survey and for the contents of the report. Delegating the whole exercise to an unlicensed person and allowing that person to sign defeats the purpose of licensing and is not permitted.

Question 31Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

What is the maximum validity period of a surveyor licence granted or renewed by IRDAI, after which renewal must be sought?

  1. One year
  2. Five years Correct answer.
  3. Ten years
  4. Three years

Explanation

Surveyor licences are granted for a defined term and must be renewed thereafter, with the Regulations prescribing a validity of five years. The surveyor must apply for renewal before expiry to avoid a break in licensed practice.

Question 32Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor licensed in the Fire department is offered a marine cargo damage survey. What is the correct course of action under the licensing framework?

  1. Accept the assignment if the insurer agrees to indemnify the surveyor
  2. Accept the assignment but disclose the department limitation in the report
  3. Decline the assignment unless holding a licence covering the Marine department Correct answer.
  4. Accept the assignment because the licence covers all general insurance surveys

Explanation

A surveyor licence is department-specific, so work outside the licensed department can only be undertaken with a corresponding licence. Accepting a marine survey on a fire licence would be unauthorised practice regardless of disclosure or indemnity.

Question 33Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Which of the following best describes the requirement of professional indemnity for a licensed surveyor under the regulatory framework?

  1. It is arranged by the insurer for each assignment and no standing policy is needed
  2. It is required only for surveyors handling claims above a fixed value
  3. It is mandatory, and the surveyor must maintain cover for the prescribed period and amount Correct answer.
  4. It is optional and depends on the surveyor's own risk appetite

Explanation

The Regulations require a licensed surveyor to maintain professional indemnity cover as a condition of holding the licence, protecting policyholders and insurers against negligent survey work. The cover must be kept in force for the period and to the extent prescribed.

Question 34Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor is appointed to assess a claim and discovers that the loss arose from a risk expressly excluded by the policy wording. How should the surveyor's report treat this?

  1. Report the facts and the applicable exclusion so the insurer can take an informed decision Correct answer.
  2. Suppress the finding to protect the insured's claim
  3. Recommend ex gratia payment regardless of the exclusion
  4. Refer the exclusion question to the insured for a final ruling

Explanation

The surveyor's function is to establish the facts, quantify the loss and report relevant policy considerations, including exclusions, so the insurer can decide the claim. Suppressing or deciding the coverage question exceeds or falls short of that role.

Question 35Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Which statement correctly reflects the surveyor's position in relation to the insurer and the insured?

  1. The surveyor is an agent of the insured and must act on the insured's instructions
  2. The surveyor acts as an arbitrator whose award binds both parties
  3. The surveyor is an independent professional appointed by the insurer to assess the loss impartially Correct answer.
  4. The surveyor is an employee of the insurer and bound by internal claim targets

Explanation

The surveyor is appointed by the insurer but acts as an independent professional, reporting facts and assessments without allegiance to either party's preferred outcome. This independence underpins the credibility of the survey report in the claims process.

Question 36Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor appointed on a claim finds that the loss amount falls below the threshold at which the insurer is required to appoint a surveyor. What is the surveyor's correct approach?

  1. Report the insurer to IRDAI for appointing a surveyor unnecessarily
  2. Conduct the survey if appointed, since the Regulations do not bar voluntary appointment below the threshold Correct answer.
  3. Charge a fee fixed by IRDAI for sub-threshold claims
  4. Refuse the appointment because the Regulations prohibit survey in such cases

Explanation

The Regulations prescribe a threshold above which a survey by a licensed surveyor is mandatory; below it, appointment is a matter of the insurer's discretion. A surveyor may therefore accept and conduct such an assignment where the insurer chooses to appoint one.

Question 37Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

How is the remuneration of a surveyor for a claim survey determined under the regulatory framework?

  1. By the insured, who pays the surveyor directly
  2. By the surveyor's unilateral quotation accepted by the insured
  3. By competitive bidding among surveyors for each claim
  4. As per the scale of fees prescribed by IRDAI, with the surveyor's fee not being contingent on the claim outcome Correct answer.

Explanation

IRDAI prescribes the scale of fees payable to surveyors so that remuneration is transparent and not linked to the size or outcome of the claim. The fee is payable by the insurer appointing the surveyor, not by the insured.

Question 38Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor holds a licence that has expired and continues to accept survey assignments. What is the regulatory position?

  1. The lapse is cured automatically once the renewal fee is paid later
  2. The surveyor is deemed to hold a valid licence during the renewal window
  3. The insurer's appointment validates the surveyor's licence for that claim
  4. Continuing to survey on an expired licence is unauthorised practice and grounds for action Correct answer.

Explanation

Survey work may be undertaken only under a valid licence, so practising after expiry is unauthorised and exposes the surveyor to disciplinary action. Renewal after the event does not retrospectively validate surveys conducted during the lapsed period.

Question 39Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Which of the following is a prescribed ground on which IRDAI may suspend or cancel a surveyor's licence?

  1. Declining an assignment due to a conflict of interest
  2. Submitting a false or misleading survey report Correct answer.
  3. Refusing to survey a claim below the mandatory threshold
  4. Charging the fee prescribed in the IRDAI scale

Explanation

Deliberately furnishing a false or misleading report is a serious professional misconduct and an express ground for suspension or cancellation of the licence. Declining conflicted assignments and adhering to the prescribed fee are compliant behaviours, not grounds for action.

Question 40Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor is asked to assess a claim on a policy issued by an insurer in which the surveyor holds a substantial shareholding. What should the surveyor do?

  1. Proceed but disclose the shareholding only in the final report
  2. Proceed, since shareholding is not addressed by the Regulations
  3. Proceed if the insured has no objection
  4. Decline the assignment because of the conflict of interest Correct answer.

Explanation

A financial interest in the insurer compromises the independence that the Regulations require of a surveyor. The proper course is to decline the assignment rather than to proceed with disclosure after the event.

Question 41Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Within what period must a surveyor ordinarily submit the survey report to the insurer after conducting the survey, unless the Regulations or the insurer allow otherwise?

  1. Within 30 days of the survey
  2. Within 90 days of the survey
  3. Within 7 days of the survey
  4. Within 15 days of the survey Correct answer.

Explanation

The regulatory framework contemplates prompt reporting, with the survey report ordinarily to be submitted within fifteen days of the survey. Delays beyond this require justification, since timely reports enable the insurer to settle claims within the overall timelines.

Question 42Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor is appointed on a claim where the insured's representative offers hospitality and a gift during the site visit. How should the surveyor respond?

  1. Decline the gift, as accepting it would compromise the surveyor's independence Correct answer.
  2. Accept the gift but record its value in the report
  3. Accept it only if the claim is ultimately admitted
  4. Accept it because hospitality is customary at industrial sites

Explanation

Accepting gifts or favours from a party to the claim creates an obligation that undermines the impartiality the surveyor must maintain. The correct response is to decline politely and proceed with an objective assessment.

Question 43Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Which of the following correctly describes the surveyor's obligation regarding the cause of loss in the survey report?

  1. State every conceivable cause so that no possibility is excluded
  2. Adopt the cause stated by the insured without independent verification
  3. Leave the cause of loss to be determined by the insurer's claim committee
  4. State the proximate cause of loss based on evidence gathered during the survey Correct answer.

Explanation

The surveyor must investigate and report the proximate cause of the loss, supported by the evidence observed and documents examined. This finding is central to the insurer's coverage decision and must rest on the surveyor's own assessment.

Question 44Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

An insured refuses to allow the surveyor access to the affected premises and records. What should the surveyor do?

  1. Cancel the licence-related assignment and return the fee
  2. Record the refusal and report it to the insurer for appropriate action Correct answer.
  3. Estimate the loss from the claim form alone and submit a final report
  4. Ask the insurer to appoint a second surveyor to compel access

Explanation

Cooperation with the survey is a condition of the claim process, and a refusal of access is a material fact that the insurer must know. The surveyor should document the refusal and report it rather than substitute assumptions for evidence.

Question 45Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

What does the Code of Conduct for surveyors require in relation to advertising and solicitation of survey work?

  1. Advertising is permitted only after obtaining IRDAI's approval for each campaign
  2. Surveyors may advertise freely, including comparative claims about competitors
  3. Advertising is permitted only through the insurer's own website
  4. Surveyors must refrain from advertising or soliciting work in a manner that is misleading or unbecoming of the profession Correct answer.

Explanation

The Code of Conduct requires professional restraint in publicity, prohibiting misleading or self-laudatory advertising and direct solicitation that would bring the profession into disrepute. Ordinary professional listing is acceptable, but aggressive marketing is not.

Question 46Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor is appointed on a large claim and finds that the loss involves technical issues beyond the surveyor's competence. What is the appropriate course?

  1. Ask the insured to arrange its own expert and rely on that expert's report
  2. Estimate the loss using general knowledge and note the limitation in the report
  3. Seek the assistance of a competent expert while retaining responsibility for the survey and report Correct answer.
  4. Withdraw from the assignment without informing the insurer

Explanation

A surveyor may take expert assistance on matters outside their own expertise, but the surveyor remains responsible for the survey and the report. Relying solely on the insured's expert or guessing at the loss would compromise the report's reliability.

Question 47Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Which statement about the surveyor's duty of confidentiality is correct?

  1. The surveyor must keep claim information confidential and use it only for the purpose of the survey Correct answer.
  2. The surveyor may share claim information with other insurers to prevent fraud without any restriction
  3. Confidentiality applies only to information marked confidential by the insured
  4. Confidentiality ends once the survey report is submitted

Explanation

Information obtained in the course of a survey is confidential and may be used only for the purpose for which the survey was undertaken. The duty continues after submission of the report and is not limited to documents marked confidential.

Question 48Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor's report recommends a settlement figure but the insurer settles at a lower amount. What is the surveyor's position under the regulatory framework?

  1. The surveyor should revise the report to match the insurer's figure
  2. The surveyor must insist that the insurer adopt the recommended figure
  3. The surveyor's report is advisory and the insurer remains responsible for the settlement decision Correct answer.
  4. The surveyor should report the insurer to IRDAI for overriding the report

Explanation

The survey report is an expert input into the claims process; the decision to admit and settle a claim rests with the insurer. The surveyor is not entitled to compel a particular settlement figure, though the insurer must record reasons where it departs materially from the report.

Question 49Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

Which of the following is required of a surveyor when preparing the survey report for a total loss claim?

  1. Provide a reasoned assessment of the loss with supporting documents and calculations Correct answer.
  2. Report only the net amount payable without supporting workings
  3. State the amount claimed without independent verification
  4. Defer entirely to the insured's valuation of the property

Explanation

The report must set out a reasoned assessment of the loss, backed by documents examined and calculations showing how the figure was arrived at. A bare figure without workings does not discharge the surveyor's reporting obligation.

Question 50Insurance Surveyors and Loss Assessors Regulations and Regulatory Framework

A surveyor licensed for many years wishes to take on a partner who is not a licensed surveyor, with the partnership to conduct surveys. What is the regulatory position?

  1. The partnership may conduct surveys if the insurer appoints the firm rather than the individual
  2. Survey work must be conducted and signed by a licensed surveyor, and unlicensed persons cannot practise through the firm Correct answer.
  3. The partnership may conduct surveys if the unlicensed partner confines work to clerical tasks
  4. The partnership may conduct surveys because the licensed surveyor is a partner

Explanation

A licence is granted to an individual and survey work must be performed and signed by a licensed surveyor. An unlicensed partner cannot practise through the firm, although unlicensed staff may perform purely clerical or supportive functions under supervision.