최신 M05 무료덤프 - CII Insurance law (IL)

문제1

Which of the following is true regarding the "principle of subrogation"?

A. It prevents the insurer from recovering any costs from a third party

B. It allows the insured to be compensated twice for the same loss

C. It allows the insurer to pursue third parties responsible for the loss

D. It means the insurer is entitled to the premium even if the claim is not paid

정답: C

설명: (DumpTOP 회원만 볼 수 있음)

문제2

Two liability policies with different insurers cover the same loss of £15,000,000. The limit of liability is
£10,000,000 under policy X and £20,000,000 under policy Y. Neither policy has a non-contribution clause.
What amount will policy Y contribute towards the claim payment?

A. £10,000,000

B. £9,000,000

C. £5,000,000

D. £7,500,000

정답: B

문제3

Which of the following is an example of a condition precedent in an insurance contract?

A. The insured must pay the premium

B. The insurer is required to pay claims for theft

C. The insured must maintain the insured item in good condition

D. The insurer must provide coverage for accidental damage

정답: C

설명: (DumpTOP 회원만 볼 수 있음)

문제4

The proximate cause of a loss is best described as the

A. most remote cause of the loss.

B. most dominant cause of the loss.

C. first peril to cause the loss.

D. final peril to cause the loss.

정답: B

문제5

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

문제6

What does the Consumer Insurance (Disclosure and Representations) Act 2012 require from consumers applying for insurance?

A. Consumers are required to pay for claims made during the policy term.

B. Consumers must answer questions about their past claims history.

C. Consumers must disclose all material facts honestly and accurately.

D. Consumers must choose an insurer based on premium prices alone.

정답: C

설명: (DumpTOP 회원만 볼 수 있음)

문제7

According to statute, a term under a consumer personal accident insurance policy may potentially be considered unfair if the insurer

A. provides coverage that is more restrictive than that of other insurers.

B. requires notification of a claim within a very short time period.

C. imposes a premium loading.

D. applies a specific exclusion within the policy wording.

정답: B

문제8

The Chancery Division is a division of the:

A. Crown Court.

B. County Court.

C. High Court.

D. Magistrates Court.

정답: C

설명: (DumpTOP 회원만 볼 수 있음)

문제9

For this question more than 1 option is correct. You must select all the correct options to gain the mark.
A proposer for private motorcycle insurance carelessly states the motorcycle's engine capacity as 500cc when in fact it is 1500cc. A policy is issued by the insurer on this basis. In the event of a valid claim causing damage to the motorcycle, what potential remedies are available to the insurer under the Consumer Insurance (Disclosure and Representations) Act 2012?

A. Reject the claim, but maintain the policy.

B. Apply any terms it would have applied if the misrepresentation had not taken place.

C. Reduce the claim amount in proportion to the premium it would have charged.

D. Avoid the contract, refuse all claims and keep the premium.

정답: B,C

문제10

A risk control survey shows that premises proposed for insurance are in close proximity to a river with a history of flooding. The underwriter will consider this fact to be a

A. physical hazard.

B. pure risk.

C. fundamental risk.

D. moral hazard.

정답: A

최신 M05 무료덤프 - CII Insurance law (IL)

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