10 exam-style questions with answers and explanations, straight from our 1,030-question bank. Tap an answer to check yourself. When you're ready, take the scored version in the free practice test.
The AMIM exam has 50 questions and runs 1 hours 5 minutes.
These 10 free AMIM questions are organized by exam domain, so you can see how each part of the Associate in Marine Insurance Management blueprint is tested. Reveal the answer and explanation under each question.
Domain 1: Ocean Marine Insurance Today
Question 1
A buyer purchases crated machinery CIF Boston, Incoterms 2020. The seller properly arranges the required carriage and Institute Cargo Clauses (C), 1/1/2009 insurance. After loading at the port of shipment, one crate is stolen; no insured named peril caused the loss, and there is no theft extension. The buyer argues that paying freight to Boston makes the seller responsible. Which response correctly separates delivery risk from insurance?
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Correct answer: C - The buyer bears the risk; the seller's minimum insurance obligation does not assure cover for this theft.
Question 2
The stowage planner is closing a vessel's loading plan. A booked packed container has arrived without a verified gross mass (VGM). The terminal offers an approved weighing service that can provide the VGM before the planning deadline, and the shipper agrees to the service and cost. For this SOLAS-regulated shipment, which instruction resolves the safety issue without unnecessarily missing the sailing?
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Correct answer: D - Obtain the terminal's VGM before the planning deadline; the master still controls acceptance for loading.
Question 3
The shipyard proposes three jobs after a drive-shaft failure: replace the defective shaft, repair the otherwise sound reduction gears damaged by its fragments, and perform an overdue engine overhaul. The shaft failed because of an undetectable internal defect. The hull policy insures resulting damage from latent defects but excludes replacement of the defective component and wear and tear. The covered repair scope is:
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Correct answer: A - Repair of the damaged gears, excluding shaft replacement and the overdue overhaul.
Question 4
A York-Antwerp Rules 2016 adjustment allows $1,200,000 in general average after cargo was deliberately jettisoned to refloat a stranded vessel and save the common adventure. Total contributory values are $24,000,000. An importer's undamaged cargo has an invoice value of $540,000, an insured value of $660,000, and a final contributory value of $600,000. What is that cargo interest's general-average contribution?
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Correct answer: C - $30,000
Domain 2: Exploring Key Facets of the Shipping Industry
Question 5
An electronics wholesaler moves its own stock between its distribution center and branches in company-owned vans. It carries no goods for others. Its auto policy covers vehicle damage and third-party liability but excludes the stock; its premises property cover ends when goods leave scheduled locations. The owner points to the $2 million auto liability limit as protection for a $180,000 load. What change addresses the uninsured interest?
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Correct answer: A - Add property-in-transit insurance covering the wholesaler's stock in its own vehicles.
Question 6
Lightning starts a fire in a restoration firm's storage building and destroys customers' furniture. An investigation establishes that the firm exercised reasonable care, met its contractual duties, and has no legal liability. Its insurance covers only its legal liability for customers' property. At renewal, the owner wants customers protected against insured fire damage even when the firm is not liable. Which coverage change meets that objective?
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Correct answer: C - Add direct bailees customers coverage insuring the furniture against fire without a legal-liability prerequisite.
Question 7
A lender's renovation checklist is marked 'builders risk insured.' Reviewing the placement, the broker finds that builders risk covers only the new work and materials to be incorporated into it. The owner's permanent property insurer has excluded the existing warehouse during the renovation. Work has not yet started. The placement needs which correction to protect the existing structure?
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Correct answer: D - Expressly insure the existing building throughout the renovation period.
Domain 4: Protecting Vessels
Question 8
A marine portfolio reports the following annual results, with both loss and expense ratios measured against earned premium:
Combined ratio: 108%.
Overall operating result: profit.
Which interpretation reconciles these figures?
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Correct answer: B - The portfolio lost money on underwriting; investment income can outweigh that loss and produce a positive overall result.
Question 9
A cargo adjuster has established coverage and the undisputed repair amount for a water-damaged machine. A separate demand for loss-of-market damages falls outside the policy's physical-damage coverage. The adjuster has settlement authority, and the applicable claims-handling rules require prompt payment of established covered amounts. The insured will not sign a release of the disputed demand. How should the adjuster proceed?
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Correct answer: A - Pay the undisputed covered amount without conditioning payment on a release of the separate demand.
Domain 5: Surveying Protection and Indemnity Insurance
Question 10
The morning after a cargo policy takes effect, a broker discovers that an exclusion for theft from unattended vehicles remains in the issued wording, despite having told the client it was removed. No loss has occurred. The insurer confirms that any amendment requires its approval. Which response protects the client without misrepresenting the coverage already in force?
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Correct answer: C - Tell the client and insurer promptly, preserve the record, and seek an authorized correction.