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100+ Free IRDAI Surveyor Miscellaneous (S-07) Practice Questions

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Key Facts: IRDAI Surveyor Miscellaneous (S-07) Exam

100 MCQs

Exam Questions

Insurance Institute of India

120 mins

Exam Duration

III S-07 Exam Structure

60%

Passing Mark

IRDAI Surveyor Regulations

₹50 lakh

Ombudsman Limit

Insurance Ombudsman Amendment Rules, Nov 2023

3 years

License Validity

IRDAI (Surveyor & Loss Assessor) Regulations

30 days

Report Submission

IRDAI Protection of Policyholders' Interests

The IRDAI Surveyor Miscellaneous (S-07) exam is a 2-hour computer-based test comprising 100 MCQs with a passing threshold of 60%. Administered by III, it costs ~₹500 per subject (+ registration fees). The syllabus is highly technical, covering burglary, theft, money, liability, and personal accident covers; claims assessment math like salvage, deductibles, and under-insurance average clauses; survey inspection and report writing; policy conditions/warranties; and legal aspects including the ₹50 lakh Insurance Ombudsman limit.

Sample IRDAI Surveyor Miscellaneous (S-07) Practice Questions

Try these sample questions to test your IRDAI Surveyor Miscellaneous (S-07) exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under a standard Burglary and Housebreaking policy in India, which of the following events is covered by default?
A.Theft committed by a domestic employee of the insured without force
B.Theft following entry into the premises by using a duplicate key
C.Theft accompanied by actual forcible and violent entry into the premises
D.Theft of cash from a safe using keys left on the counter
Explanation: A standard Burglary and Housebreaking policy in India requires actual, forcible, and violent entry or exit from the premises to trigger coverage. Theft without force or entry via key/duplicate key is classified as simple theft or larceny, which is excluded unless specifically covered under an all-risks or theft extension.
2Under a standard Money-in-Transit insurance policy, what is the defined scope of the transit period?
A.From the time money is withdrawn from the bank until it is deposited in the office safe
B.From the time money leaves the premises of dispatch until it is delivered at the destination
C.During normal business hours of the bank and the insured's offices only
D.From the time the transit vehicle is loaded until it returns to the office garage
Explanation: Money-in-Transit cover begins from the moment the cash is in custody of the authorized messenger/employee and leaves the point of origin or dispatch, continuing throughout the ordinary course of transit until it is safely delivered to the final destination or office.
3Which of the following losses is typically covered under a standard Fidelity Guarantee insurance policy?
A.Direct financial loss caused by fraudulent or dishonest acts of employees
B.Indirect loss of profits due to employee negligence or lack of skill
C.Loss of physical assets caused by third-party intruders during business hours
D.Financial loss arising from market fluctuation and bad business decisions
Explanation: A Fidelity Guarantee policy is designed to indemnify the employer against direct pecuniary loss sustained due to acts of fraud or dishonesty committed by employees in the course of their duties.
4How does a 'claims-made' liability policy differ from an 'occurrence-based' liability policy?
A.Claims-made requires the claim to be filed within the policy period regardless of when the event happened
B.Claims-made only covers events that occur and are reported during the active policy period
C.Occurrence-based covers claims made after the policy expires as long as the event occurred during the policy period
D.Claims-made policies do not allow retroactive dates for any past business activities
Explanation: An occurrence-based policy covers liability claims arising from accidents or events that took place during the policy period, even if the actual claim is filed years after the policy has expired.
5Under a standard Personal Accident (PA) policy, what is the default payment for Permanent Total Disablement (PTD)?
A.A weekly benefit of fifty percent of the sum insured for up to two years
B.One hundred percent of the capital sum insured stated in the policy schedule
C.Seventy-five percent of the sum insured plus reimbursement of medical expenses
D.A lump sum equal to fifty times the weekly salary of the insured employee
Explanation: Permanent Total Disablement (PTD) under a standard Personal Accident policy in India pays 100% of the Capital Sum Insured (CSI) to the insured as a lump sum.
6Under the Public Liability Insurance Act, 1991, which of the following is a key feature of the mandatory cover?
A.Liability is established only if negligence of the owner is proved by the claimant
B.It is a strict, no-fault liability cover for victims of hazardous substance accidents
C.Coverage is limited to employee injuries within chemical manufacturing units
D.Claims can only be filed through the National Green Tribunal by the state
Explanation: The Public Liability Insurance Act, 1991, mandates public liability insurance on a 'no-fault' basis. Claimants do not need to prove negligence or wrongful act by the owner of the hazardous installation to receive statutory relief.
7What is the function of the retroactive date in a professional indemnity policy?
A.It is the date when the policy terminates and all claims must be finalized
B.It defines the earliest date from which work performed is covered by the policy
C.It represents the grace period allowed for paying outstanding renewal premiums
D.It is the date on which the insurance company was first registered with IRDAI
Explanation: The retroactive date in a professional indemnity policy (claims-made) ensures that services rendered or work performed after this date are covered, provided the claim is first made during the active policy period.
8Under a standard Money in Transit policy, which of the following is excluded by default?
A.Loss of money due to robbery while in transit by an authorized employee
B.Loss of money left unattended in an unlocked vehicle during transit
C.Loss of money due to an accident involving the transit vehicle
D.Loss of money caused by armed hold-up during transit hours
Explanation: Standard money-in-transit policies exclude loss due to gross negligence, such as leaving money unattended in an unlocked vehicle. The policy requires reasonable care and custody by the authorized transit messenger.
9Under a standard Burglary policy, what coverage is provided for damage to the premises itself?
A.No coverage is provided; premises damage must be insured under a fire policy
B.Damage to the insured's building caused by burglars during break-in is covered
C.Coverage is restricted to window glass breakage only, up to five thousand rupees
D.Damage is covered only if the burglars are successfully arrested by the police
Explanation: A standard Burglary policy covers damage to the insured premises (for which the insured is responsible) caused by burglars during an actual or attempted burglary.
10What does a Plate Glass insurance policy primarily cover?
A.Accidental breakage of glass plates, including frames and lettering in some extensions
B.Damage to glass plates caused by wear-and-tear or scratching over time
C.Glass breakage occurring during transit from the manufacturer's warehouse
D.Loss of glass inventory stored as stock in a trade showroom
Explanation: Plate Glass insurance covers accidental breakage of fixed plate glass in the insured premises. Lettering, frames, and embossing can be covered, often through specific extensions or limits in the policy schedule.

About the IRDAI Surveyor Miscellaneous (S-07) Exam

The IRDAI Surveyor Miscellaneous (S-07) examination is a mandatory certification for professionals seeking to practice as a licensed Surveyor and Loss Assessor in the Miscellaneous department in India. This exam tests candidate competency in evaluating non-motor and non-marine commercial risks. It covers miscellaneous policy structures (burglary, liability, money, fidelity, personal accident), strict legal conditions, safety and risk audit practices, complex claim calculations (salvage, depreciation, average clause), and statutory redressal mechanisms including the post-November 2023 updated Insurance Ombudsman ₹50 lakh compensation limit.

Assessment

100 multiple-choice questions

Time Limit

As per III online slot booking (confirm current duration when scheduling)

Passing Score

60% (60/100)

Exam Fee

~₹500 per subject + GST exam fee, and ~₹500 registration fee for fresh candidates (Insurance Institute of India (III) on behalf of IRDAI)

IRDAI Surveyor Miscellaneous (S-07) Exam Content Outline

25%

Miscellaneous Policy Covers

Underwriting scopes, extensions, and standard policy frameworks for burglary, larceny, money insurance, fidelity guarantees, public/professional/product liability, and personal accident policies.

25%

Claims Assessment

Techniques for assessing loss quantum, evaluating salvage value, applying under-insurance average clauses, factoring policy excess/deductibles, and calculating depreciation.

20%

Survey Practice

Physical inspection methods, geotagged photography, cause analysis (proximate cause), structural/mechanical failure investigations, and safety/risk minimization audits.

15%

Conditions, Warranties & Exclusions

Standard burglary and liability exclusions, money safe key warranties, subrogation/contribution conditions, and the legal consequences of warranty breaches.

15%

Principles, Legal Aspects & Redressal

Core principles of utmost good faith and insurable interest, Insurance Ombudsman rules (post-Nov 2023 ₹50 lakh limit), and the IRDAI surveyor licensing/training path.

How to Pass the IRDAI Surveyor Miscellaneous (S-07) Exam

What You Need to Know

  • Passing score: 60% (60/100)
  • Assessment: 100 multiple-choice questions
  • Time limit: As per III online slot booking (confirm current duration when scheduling)
  • Exam fee: ~₹500 per subject + GST exam fee, and ~₹500 registration fee for fresh candidates

Keys to Passing

  • Complete 500+ practice questions
  • Score 80%+ consistently before scheduling
  • Focus on highest-weighted sections
  • Use our AI tutor for tough concepts

IRDAI Surveyor Miscellaneous (S-07) Study Tips from Top Performers

1Memorize the post-November 2023 Insurance Ombudsman compensation limit of ₹50 lakh for exam questions.
2Understand the difference between burglary (requires forcible/violent entry) and simple theft/larceny under policy terms.
3Master the average clause formula and practice solving multiple under-insurance math problems.
4Study the safe key warranty and the legal implications of leaving keys unattended on business premises.
5Learn the IRDAI timeline regulations: surveyors must submit their report within 30 days of appointment (or request an extension).
6Differentiate between claims-made and occurrence-based professional liability policies, focusing on retroactive dates.
7Be clear on the principles of subrogation and contribution, and how they apply to double insurance in liability claims.
8Understand the scale of depreciation applicable to different materials (rubber, glass, electronics) in property claims.

Frequently Asked Questions

What is the role of a Miscellaneous Surveyor and Loss Assessor in India?

A Miscellaneous Surveyor evaluates commercial losses under non-motor, non-marine, and non-fire policies. This includes assessing losses due to burglary, fidelity default, cash robbery in transit or safe, public/professional liability claims, and personal accident incidents. They investigate the cause, determine liability under policy terms, value salvage, and report findings to the insurer.

What is the new Insurance Ombudsman compensation limit for disputes?

Following the central government amendment in November 2023, the maximum compensation limit that the Insurance Ombudsman can award is ₹50 lakh (increased from the previous limit of ₹30 lakh). This applies to all personal lines and individual dispute awards.

What is the passing score and format of the S-07 examination?

The examination is online and computer-based, consisting of 100 multiple-choice questions. The passing score is 60% (60 marks out of 100). The exam duration is set by III per online slot; confirm current timing on the III portal when booking.

Who is eligible to apply for an IRDAI Surveyor License?

Candidates must hold an IRDAI-approved technical qualification, such as a degree or diploma in engineering, CA, or ICWA. Afterward, they must enroll as a student surveyor, undergo 12 months of mandatory practical training under a licensed trainer surveyor in the Miscellaneous department, and pass the S-07 exam.

How is under-insurance handled under the Average Clause in a burglary claim?

Under the Average Clause, if the sum insured at the time of loss is less than the actual value of the property at risk, the insured is considered their own insurer for the difference and must bear a pro-rata share of the loss. The claim payable is calculated as: (Sum Insured / Value at Risk) * Assessed Loss.

What are the common warranties in money insurance policies?

Common warranties include the 'Safe Key Warranty', which stipulates that safe keys must be kept away from the safe premises outside business hours, and the 'Transit Limit/Armed Guard Warranty', requiring cash in transit to be accompanied by a minimum number of employees or armed guards if the amount exceeds a specific threshold.