IC-72 Optional · Optional General Insurance

Motor Insurance — Mock Tests & Exam Prep

Motor insurance — own-damage and third-party liability, the Motor Vehicles Act, underwriting and claims.

Try 5 questions free → Create free account
462
Verified questions
100
Questions per exam
2 hrs
Exam duration
60%
Pass mark
30
Credit points

Try IC-72 free — 5 real questions

These are 5 of the 462 IC-72 questions in Certena, taken from across the paper. Every answer key has been checked against a source — a printed answer key, a textbook extract, or arithmetic — not guessed. Reveal the answer and the explanation below each question. No sign-up needed.

Question 1
Gyatri had bought a car 11 years back and it met with an accident. What depreciation will be deducted for parts replaced following this accident?
  1. A10%
  2. B25%
  3. C30%
  4. D50%
  5. E60%
Show answer & explanation

Answer: D. 50%

As per GR 9, the rate of depreciation that will be deducted for parts (including wooden parts) replaced following an accident for a car bought exceeding 10 years would be 50%. The depreciation is calculated according to the age and nature of parts for the vehicle. It varies from Nil to 50%.

Question 2
All proposal forms elicit full particulars of settled and outstanding claims in connection with any motor vehicle owned or driven by the proposer during the last preceding _____ years.
  1. A2 to 4 years
  2. B3 to 5 years
  3. C4 to 6 years
  4. D5 to 7 years
  5. E6 to 8 years
Show answer & explanation

Answer: B. 3 to 5 years

Under standard Motor Tariff regulations, motor insurance proposal forms require the applicant to disclose complete particulars of all accidents, claims settled, and outstanding claims during the last preceding 3 to 5 years for underwriting assessment.

Question 3
A drunk person is caught driving a vehicle and the tests have indicated that the quantity of alcohol is 150 mg and above / 100 ml of blood. What will be the penalty as per the Standing Committee and the Law Commission of India ?
  1. ARs. 4000 and imprisonment with a provision of cancellation of license
  2. BRs. 5000 and imprisonment with a provision of cancellation of license
  3. CImmediate cancellation of license
  4. DRs. 5000 and / or imprisonment
  5. ERs. 4000 and / or imprisonment
Show answer & explanation

Answer: B. Rs. 5000 and imprisonment with a provision of cancellation of license

The Standing Committee and the Law Commission of India have recommended penalty for exceeding the speed limit or drunken driving. The penalty if a person is found drunken while driving and tests indicate that the quantity of alcohol is 150 mg and above per 100 ml of blood is Rs. 5000 and imprisonment with a provision of cancellation of license.

Question 4
Why are of the right of subrogation important to the insurers?
  1. ASubrogation rights are important to the insurers as they help the insurers in reducing their net claims
  2. BSubrogation rights are important to the insurers as they help the insurers in not paying the claims of the insured
  3. CSubrogation rights are important to the insurers as they make it mandatory for the insured to disclose every material fact relating to the risk
  4. DSubrogation rights are important to the insurers as they help the insurers identify a ship which is not seaworthy
  5. ESubrogation rights are important to the insurers as they help the insurers in valuing the risk of a venture accurately
Show answer & explanation

Answer: A. Subrogation rights are important to the insurers as they help the insurers in reducing their net claims

Subrogation is transfer of rights from the insured to the insurer when the loss or damage to the vehicle is caused by the negligence of another person. The insurer exercise the right to recover the loss from the person so responsible thereby helps them in reducing their net claims.

Question 5
When the owner of a vehicle submits the summons to insurance company then a ________ should be also obtained from him along with driving license and other documents of the vehicle.
  1. AFIR
  2. BVakalatnama
  3. CPanchnama
  4. DWritten statement
  5. EAffidavit
Show answer & explanation

Answer: B. Vakalatnama

"Vakalatnama", is a document, by which the party filing the case authorizes the Advocate to represent on their behalf.

457 more verified IC-72 questions, timed 100-question mock papers, and your weak areas are in the app — create a free account.

What you'll practise

📝
Real exam-style MCQs
Question bank aligned to the III syllabus for IC-72.
⏱
Timed mock exams
Full 100-question, 2-hour papers that mirror the real III format.
💡
Instant explanations
Every question includes a clear explanation of why the answer is correct.
🔁
Spaced repetition
Missed questions resurface at the right time so you retain them.

Frequently asked questions

What is IC-72?
IC-72 (Motor Insurance) is an optional Optional-level examination offered by the Insurance Institute of India (III). Motor insurance — own-damage and third-party liability, the Motor Vehicles Act, underwriting and claims.
How many questions are in the IC-72 exam?
The IC-72 exam has 100 MCQs to be answered in 120 minutes (2 hours). All questions must be attempted — there is no negative marking.
What is the pass mark for IC-72?
You need to score at least 60% to pass IC-72. Scoring 75% or above earns a Distinction grade.
How many credit points does IC-72 carry?
IC-72 carries 30 credit points. These count toward your III certification — 60 credits for Licentiate, 250 for Associateship, 490 for Fellowship.

Related subjects

IC-01
Principles of Insurance
IC-11
Practice of General Insurance
IC-45
General Insurance Underwriting
IC-46
General Insurance Accounts Preparation & Regulation of Investment
IC-14
Regulations of Insurance Business
IC-27
Health Insurance

Ready to prepare for IC-72?

All 462 verified IC-72 questions, timed mock papers and spaced repetition. Free to start — no payment required for practice questions.

Start Free Practice →