CAIB 2 - Chapter 5 Questions and Answers
100% Solved
identify how the decision of who should purchase insurance on property in transit is
determined Correct Answ_if the owner or carrier would be responsible for loss to the
property
and to what extent
identify the three types of carriers which can be used to transport goods of owners or shippers
* Correct Answ_common carrier
contract carrier
private carrier
identify five excluded losses for which a common carrier would NOT be liable to the owner of
the goods * Correct Answ_acts of god
acts of public enemies
acts of public authority
,neglect or default of the shipper
inherent vice in the goods transported ( perishable goods, eggs, shelf life)
identify the document used to establish the liabilities of common carrier * Correct
Answ_bills of lading
identify the three types of bills of lading normally used by common carriers Correct
Answ_standard (ordinary) bill of lading
valued bill of lading
released bill of lading
how are the goods valued under a standard (ordinary) bill of lading? Correct Answ_amount
is established at a certain amount per kilogram/pound or parcel
identify two reasons to use a released bill of lading Correct Answ_when the value of goods
is less than stated on standard (ordinary) bill of lading
, when the value of goods is more than what is stated on the standard tariff (tax)
identify the liability of:
1) contract carriers
2) private carriers Correct Answ_1) contract carriers- will be stated on his contract with the
owner of the property
2) private carriers- are responsible for the amount of the loss of goods carried by them
identify the four ways that the owners of goods may insure them under the inland
transportation insurance Correct Answ_transportation floater - broad form
transportation floater rider - limited form
motor cargo rider
trip transit policy
100% Solved
identify how the decision of who should purchase insurance on property in transit is
determined Correct Answ_if the owner or carrier would be responsible for loss to the
property
and to what extent
identify the three types of carriers which can be used to transport goods of owners or shippers
* Correct Answ_common carrier
contract carrier
private carrier
identify five excluded losses for which a common carrier would NOT be liable to the owner of
the goods * Correct Answ_acts of god
acts of public enemies
acts of public authority
,neglect or default of the shipper
inherent vice in the goods transported ( perishable goods, eggs, shelf life)
identify the document used to establish the liabilities of common carrier * Correct
Answ_bills of lading
identify the three types of bills of lading normally used by common carriers Correct
Answ_standard (ordinary) bill of lading
valued bill of lading
released bill of lading
how are the goods valued under a standard (ordinary) bill of lading? Correct Answ_amount
is established at a certain amount per kilogram/pound or parcel
identify two reasons to use a released bill of lading Correct Answ_when the value of goods
is less than stated on standard (ordinary) bill of lading
, when the value of goods is more than what is stated on the standard tariff (tax)
identify the liability of:
1) contract carriers
2) private carriers Correct Answ_1) contract carriers- will be stated on his contract with the
owner of the property
2) private carriers- are responsible for the amount of the loss of goods carried by them
identify the four ways that the owners of goods may insure them under the inland
transportation insurance Correct Answ_transportation floater - broad form
transportation floater rider - limited form
motor cargo rider
trip transit policy
