최신 M05 무료덤프 - CII Insurance law (IL)

문제1

A married couple have equal shares in a property and are insured under a buildings insurance policy. What is the likely position in law of a breach of good faith by one party, which was unknown to the other party?

A. Cover would be maintained in full for the innocent party as the cover is likely to be a composite policy.

B. Cover for both parties would be invalidated as the cover is likely to be a composite policy.

C. Cover would be maintained in full for the innocent party as the cover is likely to be a joint policy

D. Cover for both parties would be invalidated as the cover is likely to be a joint policy.

정답: D

문제2

In accordance with the principle of good faith, which facts must a potential policyholder disclose to the insurer when applying for insurance?

A. Any facts which are considered material to the risk.

B. Only those facts considered likely to reduce the cost of cover

C. Any facts which are in the public domain.

D. Any facts of law.

정답: A

문제3

For this question more than 1 option is correct. You must select ail the correct options to gain the mark.
In what circumstances does the Fires Prevention (Metropolis) Act 1774 require insurance companies to ensure that claims monies are used to rebuild or reinstate buildings destroyed or damaged by fire?

A. Where there is underinsurance.

B. Where the building was destroyed by an explosion.

C. When fraud or arson by the insured is suspected.

D. Upon the request of any person(s) interested in the buildings.

정답: C,D

문제4

A professional indemnity policy includes a condition requiring that the insured must give prompt notice of any circumstance that could give rise to a claim. What type of condition is this?

A. A suspensive condition.

B. A condition precedent to the contract.

C. A condition precedent to liability.

D. A collateral condition.

정답: C

문제5

For this question more than 1 option is correct. You must select all the correct options to gain the mark. What are the characteristics of an express term in reaching or recording an agreement?

A. It may be oral or in writing.

B. It will usually override any implied term which conflicts with it.

C. It must be evidenced in documentary form.

D. It may be implied by conduct.

정답: A,B

문제6

For this question more than 1 option is correct. You must select all the correct options to gain the mark. In a consumer insurance policy, a warranty can arise as

A. a continuing warranty.

B. an express term.

C. an exception clause.

D. a basis of the contract clause.

정답: B,D

문제7

Exemplary damages are intended to:

A. punish the defendant for his conduct

B. show that the defendant has aggravated Ihe injury suffered

C. award nominal compensation to the claimant

D. record the court's disapproval of the claimant's conduct

정답: A

설명: (DumpTOP 회원만 볼 수 있음)

문제8

Which legislation regulates the conduct of insurance companies and their intermediaries in the UK?

A. The Financial Services and Markets Act 2000

B. The Consumer Insurance (Disclosure and Representations) Act 2012

C. The Companies Act 2006

D. The Insurance Act 2015

정답: A

설명: (DumpTOP 회원만 볼 수 있음)

문제9

John owns stock that he intentionally insured for £15,000, although the full value of the stock is £18.000. His insurance policy has no excess and is subject to a pro rata condition of average. In the event of water damaging £6.000 of John's stock, how much will the insurer pay for a valid claim after the application of average?

A. £15,000

B. £3,000

C. £5,000

D. £6,000

정답: C

문제10

What happens if an insured party fails to disclose a material fact during the application process for an insurance policy?

A. The insurer will continue to provide coverage without any adjustments

B. The insurer may void the contract if the omission is deemed significant

C. The insurer may charge a higher premium

D. The insurer may reduce the coverage limits

정답: B

설명: (DumpTOP 회원만 볼 수 있음)

최신 M05 무료덤프 - CII Insurance law (IL)

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