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If2 Flashcards

1
Q

What sets the scene for what follows in the policy by referring to the coming together to form the contract in return for the premium indemnified the policyholder

A) operative clause
B) signature
C) policy wording
D) recital clause or preamble

A

D) recital clause or preamble

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2
Q

What three clauses are constituent elements that make up a contract in the recital clause

A)conditions, exclusions, warranties
B) policy conditions, schedule, proposal confirmation
C) operative clauses, warranties, exclusions
D) format, schedule, exclusions

A

B) policy conditions, schedule, proposal confirmation

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3
Q

What describes the scope of cover in detail by outlining cover by starting with words such as ‘The company will… ‘ ‘We, underwriting members will’

A) policy wording
B) recital clause
C) operative clause
D) exceptions

A

C) operative clause

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4
Q

Are the following implied or expressed conditions:

A) must as as it insured
B) may be required to advise the appropriate authorities depending upon the circumstances
C) must take reasonable action
D) must not hinder insurers in the event of a claim

A

Implied

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5
Q

What conditions exist whether or not they appear in the policy

A) implied
B) expressed

A

A) implied

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6
Q

Which of the following is not on the policy schedule:

A) insureds name,
B) insureds address 
C) policy period
D) premium
E) insurer 
F) IPT amount
G) details of the subject matter 
H) sum insured or limit or liability 
I) territorial limits
J) policy number 
K) special exclusions, conditions or aspects of cover 
L) operative sections of the policy
A

Insurer

IPT amount

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7
Q

Which policies can be extended to include war risks:

A) all risks policies
B) commercial packages policies
C) theft policies
D) marine and aviation policies

A

D) marine and aviation policies

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8
Q

Which of the following are not standard market exclusions:

War and related perils
Riot and civil commotion
Radioactive contamination and nuclear assemblies
Glazing
Terrorism
Pollution and or contamination
Marine policies 
Property damage 
Contractual liability
Sonic bangs
A

Glazing

Property damage

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9
Q

In commercial legal protection policies, what does employment cover policy cover?
A) covers the cost of of action brought against the company usually under the health and safety at work legislation
B) covers the cost of defending an action by an employee against the field for unfair dismissal or racial or sexual discrimination and any awards given the the company if claim unsuccessful
C) covers only the cost of defending an action by an employee against the field for unfair dismissal or racial or sexual discrimination
D) covers costs incurred in pursuing an action against any person alleged to be guilty of fraud

A

B) covers the cost of defending an action by an employee against the field for unfair dismissal or racial or sexual discrimination and any awards given the the company if claim unsuccessful

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10
Q

What part of the policy do specific exclusion apply to:

A) the whole policy
B) particular parts of the policy
C) particular exclusion section
D) it doesn’t

A

B) particular parts of the policy

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11
Q

In commercial legal protection policies, what is criminal prosecution defence cover?
A) covers the cost of defending an action brought against the company, under health and safely work legislation. It does not include costs incurred by an employee appearing in court
B) covers the cost of defending an action brought against the company, under health and safely work legislation. It includes costs incurred by an employee appearing in court and the fines which may be imposed
C) covers the cost of defending an action brought against the company, under health and safely work legislation. It includes costs incurred by an employee appearing in court but not the fines which may be imposed

A

C) covers the cost of defending an action brought against the company, under health and safely work legislation. It includes costs incurred by an employee appearing in court but not the fines which may be imposed

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12
Q

What is not an optional extras of legal expenses insurance

A) defending libel and slander charges
B) involvement in public enquiries
C) taxation proceedings 
D) investigations by professional bodies
E) property claim charges
A

E) property claim charges

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13
Q

What is usually pre printed in a scheduled form:

A) policy wording often in a booklet with a schedule on the last page

B) heading

C) Operative clause

D) signature

A

a) policy wording often in a booklet with a schedule on the last page

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14
Q

In Commercial legal protection policies, what is the property disputes cover?
A) covers costs incurred in disputes between, for example, landlord and tenant invoking the possession of freehold or leasehold of business premises
B) covers costs of defending an action by a tenant under the health and safe work legislation
C) covers costs incurred in pursuing an action against any person alleged to be guilty of fraud

A

B) covers costs incurred in disputes between, for example, landlord and tenant invoking the possession of freehold or leasehold of business premises

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15
Q

In commercial legal protection policies, what does motor cover do?
A) covers costs in; pursuing uninsured loss recoveries, pursuing or defending actions brought in connection with a purchase and is offered by all insurers
B) covers costs in; pursuing uninsured loss recoveries, pursuing or defending actions brought in connection with a purchase, pursuing damages following a road accident, defending motoring prosecutions
C) covers costs in; pursuing uninsured loss recoveries, pursuing or defending actions brought in connection with a purchase, defending motoring prosecutions
D) covers cost in damages following a road accident only

A

B) covers costs in; pursuing uninsured loss recoveries, pursuing or defending actions brought in connection with a purchase, pursuing damages following a road accident, defending motoring prosecutions

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16
Q

In commercial legal protection policies, what is patents, registered designs, copyright and trademarks cover?
A) covers costs incurred in pursuing an action against any person alleged to be guilty of infringing the insured’s interests in patents, registered designs
B)covers the cost of damages following property damage
C) covers costs incurred in pursuing an action against any person alleged to be guilty of fraud

A

A) covers costs incurred in pursuing an action against any person alleged to be guilty of infringing the insured’s interests in parents, registered designs

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17
Q

In group legal benefit policies, what is employment cover?
A)defence and compensation that are awarded to the company after legal action taken
B)defence of any claim or legal proceedings brought against an employee, defence and compensation awards, costs of claiming for compensation arising out of members employment
C)covers legal cost of defending claims out of ownership

A

B)defence of any claim or legal proceedings brought against an employee, defence and compensation awards, costs of claiming for compensation arising out of members employment

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18
Q

Do conditions that apply to claims situations affect the continuing cover under the policy?

A

No

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19
Q

In group legal benefit policies, what is personal cover?
A) covers the legal costs involved in pursuing claim
B) covers the cost of claiming compensation against dismissal
C) covers the costs of pursuing personal rights or defending personal action against the member

A

C) covers the costs of pursuing personal rights or defending personal action against the member

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20
Q

In group legal benefit policies, what is motor cover?
A) covers the costs of defending claims arising out of the ownership or use of a Motor vehicle
B) covers the costs of defending claims arising out of the ownership or use of a Motor cycle
C) covers the cost of pursuing personal rights or defending personal action

A

A) covers the costs of defending claims arising out of the ownership or use of a Motor vehicle

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21
Q

In group legal benefit policies, what is conveyancing cover?
A) covers the legal costs involved in buying and / or selling one’s house with no limit
B) covers the legal costs involved in buying and / or selling one’s house up to specified limit
C) covers the cost of defending the claims arising from fraud

A

B) covers the legal costs involved in buying and / or selling one’s house up to specified limit

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22
Q

Which Is an example of a compulsory excess?

A) property damage excess
B) storm excess
C) terrorism excess
D) young drivers excess

A

D) young drivers excess

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23
Q

What are conditions included to emphasise:

A) the fact that the loss or damage must be fortuitous
B) that they are expressed and implied
C) that they are excluded
D) that they apply to specific situation

A

A) the fact that the loss or damage must be fortuitous

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24
Q

What does the customer service standards statement detail:

A) what happens if you want to make a complaint
B) what the insurers may expect in respect of the service provided
C) include reference to internal procedures
D) the complaint procedure

A

B) what the insurers may expect in respect of the service provided

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25
Q

What does a privacy statement summarise?

A) what information is gathered in connection with the insured and how it’s handled
B) how the insured can get information from the insurer in relation to company details
C) how to refer policyholders to the FOS
D) what internal procedures to protect the insureds privacy

A

A) what information is gathered in connection with the insured and how it’s handled

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26
Q

How does an excess work

A) it is removed from the total paid to the insurer
B) it is an additional premium
C) it’s the first amount of each and every claim for which the insured is responsible
D) it is only applicable to third party claims

A

C) it’s the first amount of each and every claim for which the insured is responsible

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27
Q

If Eva Hassan policy has a policy with a franchise of £500 and has a claim for £600 how much will be paid:

A) nothing
B) £400
C) £600
D) £500

A

C) £600

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28
Q

What happens if the insured cancels the policy within 14 days of the policy starting

A) they have a pro rata refund
B) insurers will return any premium paid less an admin fee
C) they will have no refund
D) insurers will return any premium paid less an admin fee and the amount paid for the policy to be in force

A

B) insurers will return any premium paid less an admin fee

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29
Q

Can insurers turn down claims from consumers when there has been an innocent misrepresentation

A

No

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30
Q

If John has a policy with a franchise of £200 and a claim occurs for £200 how much will be paid

A) £200
B) nothing
C) £100
D) £150

A

Nothing as the franchise threshold has not been exceeded

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31
Q

What are time franchises often found in connection with:

Business interruption policies
Engineering business interruption policies
Property damage
Personal accident

A

Engineering business interruption policies

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32
Q

What is meant by a warranty

A) where the insurer wants to make an important stipulation in the policy
B) something that must be complied with
C) not in common use by insurers
D) something that is provided by retailers

A

A) where the insurer wants to make an important stipulation in the polic

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33
Q

What must be strictly and literally complied with

A) exclusions
B) time franchises
C) warranties
D) specific conditions

A

C) warranties

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34
Q

Which of the following are common policy conditions

Duties of the policyholder 
Action by the insured in the event of a claim 
Alteration 
Motor cycle insurance
Fraud 
Reasonable precautions 
Contribution 
Cost of working 
Average 
Subrogation
Claim benefit
Arbitration 
Cancellation
A

Cost of working
Motor cycle insurance
Claim benefit a

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35
Q

What do specific exclusions relate to:

A)situations where the insurer expects some kind of insurance to be in place
B) situations where there could be potential large scale damage
C) situations where insurers apply particular exclusions
D) specific to each section of policy

A

A)situations where the insurer expects some kind of insurance to be in place

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36
Q

What refund do insurers give if they cancel within 7 days notice:

A) none
B) the whole premium
C) pro rata premium
D) net premium

A

C) pro rata premium

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37
Q

What happens if the insurer cancels the policy before the policy starts

A) they get the full premium refunded
B) it is refunded pro rata
C) return any premium paid less an admin fee

A

A) they get the full premium refunded

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38
Q

What happens if the insured cancels the policy after 14 days have passed:

A) no refund will be given
B) they will get a pro rata refund
C) they have to pay a cancellation fee
D) refund but they have to pay an admin fee and any amount the policy has been in force

A

D) refund but they have to pay an admin fee and any amount the policy has been in force

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39
Q

What did the Deregulation Act 2015 do:

A) the policyholder no longer needs to return the certificate
B) the insured is no longer liable for third party property damage
C) if the policyholder doesn’t comply with warranties their policy is cancelled
D) insurers can cancel a policy in writing as long as they issue the cancellation letter to the last known address

A

A) the policyholder no longer needs to return the certificate

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40
Q

What do market exclusions usually refer to:

A) everything across the market specific to the industry
B) situations where the insurer expects some kind of insurance to be in place
C) situations where the insurer doesn’t want to become involved because of the catastrophic nature of any potential damage such as war risk

A

situations where the insurer doesn’t want to become involved because of the catastrophic nature of any potential damage such as war risk

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41
Q

What does a breach of warranty do to the insurers liability

A) increase it
B) neither increases or decreases
C) automatically discharges
D) decreases it

A

C) automatically discharges

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42
Q

What does suspensive conditions become for warranties

A) it means that insurers can suspend any conditions that they may apply to a policy
B) it means there are no conditions on warranties
C) it means that insurers aren’t liable for losses occurring while the insured is in breach but it will be restored once it’s remedied
D) that any conditions are moved over to exclusions

A

C) it means that insurers aren’t liable for losses occurring while the insured is in breach but it will be restored once it’s remedied
D) that any conditions are moved o

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43
Q

What must be expressly agreed between insurers and insured

A) warranties
B) exclusions
C) conditions
D) market specifications

A

A) warranties

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44
Q

What are conditions precedent to the contract

A) conditions that must be fulfilled prior to the formation of the contract
B) conditions that need to be declared at inception of the policy
C) conditions that aren’t necessary
D) conditions that can fulfilled after renewal

A

A) conditions that must be fulfilled prior to the formation of the contract

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45
Q

Which of the following beach of conditions precedent means insurers can Void the contract

A) no insurable interest 
B) a fundamental mistake
C) an illegal contract
D) all
E) neither
A

A b and c

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46
Q

What is meant by continuing conditions precedent?

A) conditions that must be fulfilled prior to the formation of the contract
B) no conditions at all
C) there is an ongoing condition that are ongoing requirements through the policy period
D) conditions that continue after inception of the policy

A

C) there is an ongoing condition that are ongoing requirements through the policy period

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47
Q

Tommy has 2 policies on his pain warehouse. Esure has a policy of £200,000. NFU has a policy of £550,000. Total loss from fire damage is £300,000
What do esure and nfu pay?

A) esure £220,000 nfu £80,000
B) esure £80,000 nfu £220,000
C) esure £60,000 nfu £240,000
D nfu the full £300,000

A

B) esure £80,000 nfu £220,000

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48
Q

Poppy’s shop has been burgled, the total loss is £50,000. Poppy only has a policy insured for £100,000 when in fact it should be £120,000. What is the average payment?
(Rounded to the nearest 100)

A) £41,700
B) £40,200
C) £41,900
D) £49,100

A

A) £41,700

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49
Q

For premium rate calculations, the full value of a small pleasure boat is £2,000. The insurer sets a rate per cent of 10%. What is the premium?

A) £200
B) £2000
C) £20
D) £1000

A

B)£2000

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50
Q

What is the difference between premium rate and premium base?

A

Premium rate is intended to reflect the hazards associated with the particular insurer

Premium base is the measure of the exposure

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51
Q

A company has a net turnover of £28million, if the company has a product liability insurance for a limit of £2m with a rate of 0.5% what is the limit of indemnity?

A)£140,000
B) £140
C) £14,000

A

C) £14,000

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52
Q

If a company has a turnover of £30million at the rate of 0.7%. They have the indemnity of £5million, what is the premium?

A) £21,000
B) £2,100
C) £20,000
D) £210,000

A

A) £21,000

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53
Q

If a company advised that their estimated annual turnover was £28million for the limit of indemnity of £2m. The premium is £14,000, on a rate of 0.5%. The actual declared turnover is £22m. What amount of the premium will be refunded?

A) £2,000
B) £11,000
C) £3,000

A

C) £3,000

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54
Q

Calculate the premium, including IPT (insurance premium tax) for a contents sum insured of £50,000 at a rate of 0.35%?

A) £175
B) £196
C) £192.50
D) £200

A

B) £196

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55
Q

Corporate data must be protected from;

A) being used for blackmail and unauthorised disclosure
B) malicious alteration, deliberate destructive acts and industrial espionage
C) malicious alteration, deliberate destructive acts and unauthorised disclosure

A

B) malicious alteration, deliberate destructive acts and industrial espionage

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56
Q

Personal data must be protected from?

A) being used for blackmail and unauthorised disclosure
B) malicious alteration, deliberate destructive acts and industrial espionage
C) being used for blackmail and malicious alteration

A

A) being used for blackmail and unauthorised disclosure

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57
Q

What information is not provided from telematics?

The time of day or night the car is driven
How smoothly it is driven
How many roundabouts a month
Whether breaks are taken on long journeys
The spend at which it is driven on different sorts of roads
Where you go
Total number of journeys made
How many passengers you have

A

How many roundabouts a month
Where you go
How many passengers you have

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58
Q

What is directly affected by Section 11 of the insurance Act

A) warranties
B) condition precedent of the contract
C) conditions
D) conditions subsequent of the contract

A

condition precedent of the contrac

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59
Q

Under what condition when a term is breached must it relate to the loss that occurred for the insurer to rely upon it

A) condition subsequent of the contract
B) exclusions
C) conditions precedent of the contract
D) general market conditions

A

C) conditions precedent of the contrac

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60
Q

Under section 11 of the act which term does not define a risk as a whole

A) a geographical area in which a loss must occur
B) the age, identify, qualification or experience of a vehicle,
C) the customer service the insured has received
D) exclude loss that occurs while a vehicle is being used for a commercial purpose

A

C) the customer service the insured has received

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61
Q

Under FCA rules unless fraud is involved the insurer should not repudiate liability to indemnify a consumer on the grounds of:

A) a breach of warranty
B) a breach of exclusion
C) a breach of policy
D) a breach of condition

A

D) a breach of condition

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62
Q

A public liability policy contains a condition precedent to liability concerning precautions to be taken when using cutting torches. In the event of a claim for damage arising out of the use of cutting torches, if the insured has specifically raised to comply with this condition then the insurer will normally:

A) cancel the policy
B) offer part payment
C) settle and sue insured for recovery
D) refuse to settle the claim but not repudiate the contract as a whole

A

D) refuse to settle the claim

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63
Q

Do exclusions give the insurer any right to avoid the policy as whole?

A

No

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64
Q

What is the term for when during the course of negotiating an insurance contract, statements are made by a proposed that may persuade an insurer to enter into ceratopsian terms

A) exclusion
B) representations
C) warranties
D) subjectivities

A

B) representations

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65
Q

True or false: Some implied conditions are so fundamental that they will affect the whole validity of the policy as whole

A

True

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66
Q

Under conditions precedent of the contract a breach concerned deity the formation of the contract entitles the insurer:

A) not play claims
B) cancel the policy
C) fine the policyholder
D) cancel the policy from the beginning

A

D. Cancel the policy from the beginning

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67
Q

What is section 10 of the insurance act relating to:

Complaints
Warranties
Exclusions
Conditions

A

Warranties

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68
Q

What are conditions precedent to liability principally and if it has a breach what happens

A) claims conditions, insurers will void the claim but not the policy
B) claims conditions, insurers will void the claim
C) policy conditions, insurers will void the claim but not the polciy

A

claims conditions, insurers will void the claim but not the policy

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69
Q

What must be included in renewal notices for consumers

A) this years premium
B) this years premium and precious premium
C) this years premium and previous premium and ensure that the level of cover is appropriate
D) this years premium and previous premium and ensure that the level of cover is appropriate and can compare prices with other providers

A

) this years premium and previous premium and ensure that the level of cover is appropriate and can compare prices with other providers

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70
Q

What is business interruption insurance?
A) covers loss following damage or destruction
B) only actual loss of earnings and additional expenses insurers as a result of that material loss
C) actual or potential loss of earnings and additional expenses insurers as a result of that material loss

A

C) actual or potential loss of earnings and additional expenses insurers as a result of that material loss

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71
Q 
In business interruption insurance what is the time the interruption will affect the business known as?
A) indemnity timing
B) indemnity policy
C) business indemnity insurance 
D) indemnity period
A

D) indemnity period

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72
Q

In customer service, who is not classed as ‘other’ customers?

Shareholders
Intermediaries
Friends 
Company employees
Investors
Political campaigners
A

Friends

Political campaigners

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73
Q

What is not a key area of customer service?

a) Consumer awareness
B) Policy wording
C) Customer expectations
D) Competition

A

B) Policy wording

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74
Q

What principles does the FCA and PRA require businesses to treat customers fairly?

A) 6
B) 8
C) 3
D) 1

A

A) 6

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75
Q

Which is not an outcome that is published from the FCA about customer service?

A) consumers can be confident they are dealing with films where the fair treatment of customers is central to the corporate culture
B) consumers are provided with products that perform as firms have led them to expect
C) products and services marketed and sold in the retail market are designed to meet the needs of consumer groups
D) consumers face unreasonable post-sale barriers imposed by firms

A

D) consumers face unreasonable post-sale barriers imposed by firms

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76
Q

What information is not needed to be provided to the consumer when they input a claim? (Within 5 days of the claim)

A) how much the insurer is paying out
B) that the claim relates to a risk outlined in the policy
C) the action in which the insurer will take
D) if the insurer is appointing any other party

A

A) how much the insurer is paying out

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77
Q

What are the following specific questions in relation to, ages or drivers, criminal prosecutions pending or convictions

A) motor insurance
B) liability insurance
C) fire insurance
D) theft insurance

A

A) motor insurance

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78
Q

Which is the risk specific questions relate to what insurance, noise risks , pollution hazards, work away from the premises, contracts entered into

A) motor insurance
B) liability insurance
C) fire insurance
D) theft insurance

A

B) liability insurance

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79
Q

Which is the risk specific questions relate to fire insurance, manufacturing processes, storage arrangements, building construction

A) motor insurance
B) liability insurance
C) fire insurance
D) theft insurance

A

C) fire insurance

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80
Q

Which of the following risk specific questions relate to breakdown of types of stock, security precautions

A) motor insurance
B) liability insurance
C) fire insurance
D) theft insurance

A

D) theft insurance

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81
Q

What insurance are these good physical hazards for

Brick or concrete fire walls, metal fire doors, automatic sprinklers

A) fire insurance
B) theft insurance
C) motor insurance
D) EL insurance
E) personal accident and sickness insurance
A

A) fire insurance

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82
Q

What insurance are these good physical hazards for

Security locks, intruder alarms, low risk premises

A) fire insurance
B) theft insurance
C) motor insurance
D) EL insurance
E) personal accident and sickness insurance
A

B) theft insurance

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83
Q

Which of these is a good physical hazard for

Vehicle that is garaged

A) fire insurance
B) theft insurance
C) motor insurance
D) EL insurance
E) personal accident and sickness insurance
A

C) motor insurance

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84
Q

Which of these are good physical hazards for

Use of extractor fans, protective clothing, goggles and masks

A) fire insurance
B) theft insurance
C) motor insurance
D) EL insurance
E) personal accident and sickness insurance
A

D) EL insurance

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85
Q

Which of these are good physical hazards for:

Clerical type occupation, good health record

A) fire insurance
B) theft insurance
C) motor insurance
D) EL insurance
E) personal accident and sickness insurance
A

E) personal accident and sickness

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86
Q

Which of these are poor physical hazards for

Buildings of wooden construction, thatched roofs, storage or dangerous chemicals

A) fire insurance
B) theft insurance
C) motor insurance
D) EL insurance
E) personal accident and sickness insurance
A

A) fire insurance

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87
Q

Which of these are poor physical hazards for

Buildings of lightweight construction, flimsy window catches, high risk premises

A) fire insurance
B) theft insurance
C) motor insurance
D) EL insurance
E) personal accident and sickness insurance
A

B) theft insurance

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88
Q

Which of these are examples of poor physical hazards for

Uses of chemical and oils, creation of dusts

A) fire insurance
B) theft insurance
C) motor insurance
D) EL insurance
E) personal accident and sickness insurance
A

D) EL

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89
Q

What does a moral hazard relate to:

A) any physical aspect that can alter a risk
B) any human aspects that may influence the outcome of a risk

A

B) any human aspects that may influence the outcome of a risk

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90
Q

Which of these aren’t general questions on a proposal form?

Proposers name
Proposers address 
Proposers occupation 
Proposers age
Proposers gender
Details do last insurance history
Details of the motor vehicle
Details of other insurances
A

Proposers age

Details of motor vehicle

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91
Q

What are surveys usually used for:

A) property insurance for larger risks
B) hairdressers with high PL limit
C) occupational hazard
D) oil rigs

A

) property insurance for larger risks

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92
Q

What are these aren’t supplementary questionnaires used for?

A) public liability risks
B) property damage risks
C) product risks
D) money risks
E) fire insurance
A

B) property damage risks

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93
Q

What js the market reform contract used for:

A) by London market to support contract certainty
B) by Lloyd’s of London to support market contract
C) by a slip of Lloyd’s of London

A

A) by London market to support contract certainty

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94
Q

Which of the following are not part of market reform contract:

A) meetings the client
B) writing to the proposer
C) internet search
D) emergency helplines

A

D) emergency helplines

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95
Q

Which of these exclusions relate to a peril:

Explosion resulting from fire, earthquake or subterranean fire, own spontaneous fermentation

A) fire
B) lightning
C) explosion

A

A) fire

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96
Q

Which of these is excluded unde this peril:

Fire

A) fire
B) lightning
C) explosion

A

A) lightning

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97
Q

What is limited explosion cover covered under

Fire
Lightning
Explosion

A

Explosion

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98
Q

What are the following perils:

Explosion, spontaneous fermentation or heating

A) perils of a chemical type
B) social perils
C) perils of nature
D) miscellaneous perils

A

A) perils of a chemical type

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99
Q

Which of these aren’t common extensions to theft insurance

A) breakage of glass
B) replacement of locks
C) temporary removal
D) index linking 
E) collusion 
F) Robbery and aggregated burglary
A

E) collusion

F) Robbery and aggregated burglary

100
Q

Which of these aren’t extensions that can be added to theft cover subject to careful underwriting

A) collision
B) personal accident and assault
C) extended or full theft
D) robbery and aggravated burglary

A

B) personal and accident

101
Q

Which of these isn’t an exclusion for theft insurance

A) collision
B) fire and explosion 
C) money 
D) cash and bank notes 
E) livestock
A

C) money

102
Q

Which of these relate To

Windows, doors, fanlight, showcases

A) theft
B) all risks
C) fire, lightning and explosion
D) glass insurance

A

D) glass insurance

103
Q

Which of these is excluded under glass insurance

Theft
Money
Fire, lightning and explosion
Accidental damage

A

Fire, lightning and explosion

104
Q

What is money insured on?

A) first loss basis
B) all risks basis

A

B) all risks basis

105
Q

How are money policies rated?

A) first loss basis
B) exceptional loss basis
C) average
D) adjustable basis

A

D) adjustable basis based on carrying a

106
Q

What is the limit of money on the insured premises out of business hours and not in a safe

£300
£1000
£250
£500

A

£500

107
Q

Which of these optional extensions in relation to

Personal accident assault and credit cards

A) theft
B) personal accident
C) money
D) glass

A

C) money

108
Q

Which of these aren’t a standard limitation to money insurance

A) loss due to an error or omission in accounting
B) loss due to an accident
C) loss to dishonesty of an employee
D) loss destruction arising outside GB
E) loss being Opened by a key or a combination to a safe

A

B) loss due to an accident

109
Q

Which of these are covered under which liability policy

Legal liability for damages, disease or illness

A) public liability
B) product liability
C) EL
D) PI

A

C) EL

110
Q

Are claimants costs and expenses covered under EL?

A

Yes

111
Q

Which of these standard extensions refer to:

Defence costs and expenses, additional persons insured

A) EL
B) PL
C) Products
D) PI

A

A) EL

112
Q

Which is these exclusions are:

Gradually operating exclusions such as corrosion, rust, change in temp, terrorism

A) absolute exclusions
B) exclusions which relate to an aspect of cover but can reached under careful underwriting
C) relate to an aspect of cover which can be written into the policy
D) exclusions which would be more appropriate under other cover

A

B) can be added under careful underwriting

113
Q

Which is these special perils are:

Riot, civil commotion, malicious persons

A) perils of a chemical type
B) social perils
C) perils of nature
D) miscellaneous perils

A

B) social perils

114
Q

Which of these perils are:

Storm, flood, earthquake, subterranean fire

A) perils of a chemical type
B) social perils
C) perils of nature
D) miscellaneous perils

A

C) perils of nature

115
Q

Which do the following limitations relate to

Contractual liability, damage to goods supplied, faulty design or formula, unsuitability or failure to perform

A) PL
B) product
C) EL
D) PI

A

B) product

116
Q

Which of these perils are:

Escape of water, aircraft, impact

A) perils of a chemical type
B) social perils
C) perils of nature
D) miscellaneous perils

A

D) miscellaneous perils

117
Q

Which of these aren’t standard market exclusions to fire, lightning and explosion cover:

Riot or civil commotion, 
War risks
Motor
Radioactive contamination 
Northern Ireland excluded perils
Terrorism
Pollution or contamination
Marine 
Glass
More specifically insured
Consequential loss
A

Glass

Motor

118
Q

What are the following exclusions referred to as in relation to all risks cover

War, nuclear assemblies, terrorism, Northern Ireland risks, pollution of contamination, marine risk

A) absolute exclusions
B) exclusions which relate to an aspect of cover but can reached under careful underwriting
C) relate to an aspect of cover which can be written into the policy
D) exclusions which would be more appropriate under other cover

A

A) absolute exclusions

119
Q

Which of these exclusions can be written into a policy

Money, jewellery, glass, computers , goods in transit, subsidence

A) absolute exclusions
B) exclusions which relate to an aspect of cover but can reached under careful underwriting
C) relate to an aspect of cover which can be written into the policy
D) exclusions which would be more appropriate under other cover

A

C) can be written into the policy

120
Q

Which of these exclusions are:

Motor vehicles, watercraft, aircraft

A) absolute exclusions
B) exclusions which relate to an aspect of cover but can reached under careful underwriting
C) relate to an aspect of cover which can be written into the policy
D) exclusions which would be more appropriate under other cover

A

D) appropriate under other cover

121
Q

What is meant where total destruction by the perils insured is very unlikely

A- sum insured
B- all risks
C- Limits of liability
D- first loss basis

A

D- first loss basis

122
Q

Which of the following perils aren’t on first loss basis

Theft 
Storm 
Subsidence 
Flood
Earthquake 
Sprinkler leakage
Impact
A

Subsidence and earthquake

123
Q

What does the theft act 1968 bring in:

A) forcible and violent entry or exit
B) forcible and violent entry and exit
C) forcible or violent entry or exit
D) forcible or violent entry and exit

A

A) forcible and violent entry or exit

124
Q

What is the maximum payment for personal injury for third party?

A) unlimited
B) 1.2 million
C) £20million

A

A) unlimited

125
Q

Which of the following extensions on:

Tenants liability, defective premises

A) El
B) PI
C) Products
D) PL

A

D) PL

126
Q

Jamie has had to have treatment after an accident, what is covered under policy benefits?

A) only ambulance charges
B) medical, surgical and other remedial attention and ambulance charges
C) medical, surgical and other remedial attention BUT NOT ambulance charges

A

b) medical, surgical and other remedial attention and ambulance charges

127
Q

What does the (MIB) motor insurers bureau do?

A) operates a central service to provide advice for injury or damage following a motor accident where it cannot be obtained from another source
B) operates a central fund to provide compensation for injury or damage following a motor accident where it cannot be obtained from another source
C) operates a central fund to provide compensation for injury or damage following a marine accident where it cannot be obtained from another source

A

B) operates a central fund to provide compensation for injury or damage following a motor accident where it cannot be obtained from another source

128
Q

Who is eligible to claim compensation from the motor insurers bureau?

A) drivers who suffer injury due to mechanical failure of vehicles
B) owners of maliciously damaged vehicle which fail to stop and are never traced
C) pedestrians injured by vehicles which fail to stop and are never traced
D) property owners whose private property is destroyed by uninsured motorists

A

C) pedestrians injured by vehicles which fail to stop and are never traced

129
Q

What policy is the passenger travelling to work covered under

A) motor insurance
B) EL

A

A) motor insurance

130
Q

What is not a common way a claim can be settled?

Pay for the cost of repairs
Ask the insured to find replacements
Replacement of damaged or lost hoods
Reinstate by taking control of repair themselves

A

Ask the insured to find replacements

131
Q

Under which circumstances will the benefits from Medical expenses policy become payable?

A) on diagnosis of a critical condition
B) on undergoing minor surgery
C) when unable to work due to illness
D) when unable to work due to accident

A

B) on undergoing minor surgery

132
Q

What is the applied limit of indemnity for any one occurrence for PL cover

A) £1 million
B) £2 million m
C) £5 million
D) £10 million

A

C) £5 million

133
Q

Which of these aren’t a limitations for PL insurance

A) Injury to employees
B) property belonging to the insured
C) product liability 
D) material damage 
E) contractual liability 
F) cost of rectifying defective work
G) professional negligence 
H) deliberate acts
I) motor vehicles
J) vessels and crafts
K) lifts, elevators and boilers 
L) war risks 
M) radioactive contamination
A

D) material damage

134
Q

What covers legal liability happening during the period of insurance

A) PL
B) EL
C) product
D) professional indemnity

A

C) product

135
Q

What does it mean by ‘claims made’

A) all claims notified to the insurer of the insured during the period of insurance no matter when the event giving rise to the loss occurred

B) any future claims won’t be paid

A

A) all claims notified to the insurer of the insured during the period of insurance no matter when the event giving rise to the loss occurred

136
Q

What does D&O give cover for

A) indemnity to D&O
B) fine payments for D&O
C) indemnity when D&O can’t claim from the policy
D) loss of documents

A

C) indemnity when D&O can’t claim from the policy

137
Q

What is not covered with the standard medical expenses insurance?

A) hospital charges
B) room upgrades
C) specialist fees
D) additional costs

A

B) room upgrades

138
Q

Which of these policies aren’t on a claims made basis:

EL
Public
Product
D&O
PI
Trustee
A

EL And PL

140
Q

Which are these policy exclusions for:

Prior notification, juridically, bodily injury and property damage, pollution and contamination, fraud or dishonesty

EL
PL 
PRODUCT
D&O
PI
A

D&O

141
Q

Which of these are different for which policies

Theft or attempted theft isn’t covered unless forcible and violent entry or exit
Contact lenses, money, stamps, coins, food and drink are excluded under AD

A) on buildings cover but not contents cover
B) applicable to both
C) on contents cover but not buildings cover

A

A) on buildings cover but not contents cover

142
Q

Which is these isn’t an optional extension of PI insurance

A) continuation of cover,
B) property damage
C) liability for breach of authority 
D) loss caused by loss of documents 
E) collateral warranties
F) fidelity guarantee
A

B) property damage

143
Q

Which of these policies exclude dishonesty of the insured

EL
PL
PI
D&O

A

PI

144
Q

What insurance relates to

Cover court awards, losses to pension funds and defence costs

EL
PL
Trustee insurance

A

Trustee insurance

145
Q

Which of these aren’t a peril in respect of buildings

Fire, lightning, explosion earthquake
Riot, civil commotion
Storm or flood
Falling trees or branches
Escape of water
Exactly of oil
Theft of attempted theft
Impact
Glass works
Subsidence ground heaven or land slip 
Breakage or collapse of television aerials
AD to drains, pipes, cables
Accidental breakage to glass and sanitary fixtures
Motor cycle repairs 
Legal fees, architects, surveyors
Loss of rent 
Non automatic extension
A

Glass works

Motor cycle repairs

146
Q

What is the single article limit

A) 10% of the sum insured
B) 7.5% of the sum insured
C) 15% of the sum insured
D) 5% of the sum insured

A

D) 5% of the sum insured

147
Q

What are 2 specific exclusions in respect of third party liability?

A

Damage to the property owned

Liability covered by another insurance policy

148
Q

What is the main difference between third party, fire and theft and comprehensive cover?

A

The main difference is that comprehensive cover grants cover for accidental, even malicious damage

149
Q

What are not optional extensions to a comprehensive private motor policy?

Young additional drivers
Loss of use
Personal belongings
Additional personal accident benefits
Elections
Cyclists
Racing, competitions
Caravans and trailers
Breakdown cover
Buggies
Joint polices
A

Cyclists

Buggies

150
Q

What is the difference for accidental damage cover on motor to motor cycle insurance?

A

It excludes theft or accessories/spare parts unless the motor cycle is stolen

151
Q

Is there an personal accident benefits, medical expenses a or personal effects cover with motor cycle policy?

A

No

152
Q

What are the main groups of commercial vehicles?

A

Goods carrying
Passenger carrying
Agricultural
Special construction

153
Q

Why is driving other vehicles cover omitted from the commercial motor cover?

A)it’s not omitted.
B)they don’t like the idea of insured driving other vehicles
C)range of vehicles are so big they don’t want to encourage it

A

C)range of vehicles are so big they don’t want to encourage it

154
Q

With policy benefits, how much do you get paid for death?

A) £20,00
B) £10,000
C) £100 per week
D) nothing

A

B) £10,000

155
Q

Jackie has the sight in her one eye, what is the typical sum payable?

A) £30,000
B) £20,000
C) unlimited
D) £10,000

A

D) £10,000

156
Q

What does injury, damage or loss as a result of breach of professional duty relate to:

EL
Product
D&O 
PL
PI
A

PI

157
Q

What is the valuables limit on contents

A) one third of the contents sum insured
B) one half of the contents sum insured
C) one quarter of the contents sum insured
D) one Firth of the contents sum insured

A

one third of the contents sum insure

157
Q

Tony has lost both limbs, how much is then typical sum payable?

A) £20,000
B) £40,000
C) £10,000
D) £100 a week

A

A) £20,000

158
Q

Which of these are settlements for what

Indemnity (or market value) deduction is made for west and tear

New for old

A) buildings
B) contents
C) household
D) property

A

C) household

159
Q

Agatha has permanent total disablement, what two could be the compensation she will receive?

A) £2,000 a year for 10 years
B) £20,000 upfront
C) £100 a week for 104 weeks
D) £10,000 upfront

A

A) £2,000 a year for 10 years

B) £20,000 upfront

160
Q

What is not one of the most common business interruption policies?

A) fire and special perils
B) all risks
C) property damage
D) engineering

A

C) property damage

161
Q

In relation to fire and special perils in business interruption cover, what is included in the standard cover that is not in the material damage policy?

A) explosion of any other boilers or economisers
B) war related crimes
C) explosion of only domestic boilers or economisers
D) there in nothing new

A

A) explosion of any other boilers or economisers

162
Q

How much is loss of Rent cover as an optional extension to contents cover

A) 10-20%
B) 20-30%
C) 30-40%
D) 40-50%

A

A) 10-20%

163
Q

What two things are optional extensions to content insurance for an AP

A) accidental damage to entertainment equipment
B) accidental damage to money
C) accidental damage whilst in the course of removal

A

A and c

164
Q

Which of the following liability aspects does it refer to:

This protects the interest of the insured as;
Occupier, rather than owner of the property
A private individual for personal liability
As an employer of domestic employees

A) buildings
C) household
C) legal expenses
D) contents

A

D) contents

165
Q

Roxy has temporary total disablement, what is the typical sum payable?

A) £100 a week for 104 weeks
B) £100 a week
C) £10,000

A

A) £100 a week for 104 weeks

166
Q

For contents legal liability what is the limit of indemnity

A) £1 million any one Claim
B) £2 million any one claim
C) £5 million any one claim

A

B) £2 million any one claim

167
Q

Is money a form or all risks basis

A

Yes

168
Q

What do the specific exclusions refer to

Shortages due to error omission
Losses not reported to the police within 24 hours

A) contents insurance
B) legal expenses
C) theft
D) money

A

D) money

169
Q

What is the limit for money and credit cards

A) £500 money £500 credit card
£1500 money £2000 credit card
C) £200 money £500 credit card
D) £1000 each

A

C) £200 money £500 credit card

170
Q

Which do the following exclusions refer to:

Loss or damage to parts or accessories unless it’s damaged at the same time
Use for racing, pace making or trials
Excluded thef

A) money insurance
B) glass
C) theft
D) cycling

A

D) cycling

171
Q

What is the minimum motor insurance cover required in order to comply with the road traffic act 1988?

A

The minimum requirement by law is to provide insurance in respect of legal liability for third party bodily injury or fealty (unlimited)
And third party property damage (up to 1.2million)
And for emergency treatment fees

172
Q

Which do the following exclusions refer to:

Loss or damage to parts or accessories unless it’s damaged at the same time
Use for racing, pace making or trials
Excluded thef

A) money insurance
B) glass
C) theft
D) cycling

A

D) cycling

173
Q

What are small crafts defined as

Vessels not exceeding 20 feet and a speed not exceeding 20 knots
Vessels not exceeding 16 feet and not exceeding 17 knots
Vessels not exceeded 25 feet and not exceeding 27 knots

A

Vessels not exceeding 16 feet and not exceeding 17 knots

174
Q

What are the following 4 sections refer to:

accidental loss or damage to craft, machinery and equipment
personal effects
salvage charge
liability to third parties and passengers

A) motor
B) small craft
C) theft
D? Shop

A

B) small craft

175
Q

A motorist suffers damage to his comprehensive insured vehicle and takes it to a repaired with who the insurer has direct billing arrangements. The insurance policy has a £100 excess. Assuming he claim is valid, how is the claim likely to be settled?
A) the insurer pays the repairer in full, reclaiming the excess from the insured
B) the insured pays the repairer in full, reclaiming the costs less the excess from the insure
C) the insured pays excess to the repairer and the insurer the pays the balance to the repairer
D) the insured pays the excess to the insurer and the insurer then pays the full amount to the repairer

A

C) the insured pays excess to the repairer and the insurer the pays the balance to the repairer

176
Q

What is the difference between BI boilers and Material damage boilers

A) BI covers explosion or both domestic and non domestic boilers
B) BI excludes boilers
C) there is no difference

A

A) BI covers explosion or both domestic and non domestic boilers

177
Q

What is the basis the purpose of legal expense insurance

A) To pay for the insured claims
B) To indemnify directors and offices
C) For libel and slander protection
D)For indemnity for Costs arising out of the need to seek legal advice

A

D)For indemnity for Costs arising out of the need to seek legal advice

178
Q

A public liability insurance policy contains a condition precedent to liability concerning the precautions to be taken when using cutting torches. In the event of a claim for damage arising from the use of cutting torches and the insurers has specifically failed to comply with this condition, the insurer will normally;
A) cancel the policy
B) offer large payment on the claim
C) refuse to settle the claim
D) settle the claim and sue the insured for recovery

A

C) refuse to settle the claim

179
Q 
Which part of an insurance policy personalises the cover to the insured?
A) the heading
B) the operative clause
C) the recital clause
D) the schedule
A

D) the schedule

180
Q 
Under which part of a property insurance policy will the insured perils be listed?
A) the conditions
B) the exceptions
C) the operative clause
D) the recital clause
A

C) the operative clause

181
Q 
An insurance policy’s legal significance is as the
A) basis of the contract
B) confirmation of cover
C) contract itself
D) evidence of the contract
A

D) evidence of the contract

182
Q

Under a typical legal expenses insurance policy, what limits of cover, is any, usually applies during the period of insurance?
A) cover is unlimited
B) overall cover is limited, but there is not limit per claim
C) overall cover is limited and there is also a limit per claim
D) overall cover is unlimited, but there is a limit per claim

A

D) overall cover is unlimited, but there is a limit per claim

183
Q

An employee is assaulted and robbed of his employers takings whilst en route to bank then. Which insurance policy is most likely to provide personal abide than benefits to the employee for the injuries sustained during the robbery?
A) an employers liability insurance policy
B) a money insurance policy
C) a public liability insurance policy
D) a theft insurance policy

A

B) a money insurance policy

184
Q 
Under a third party only private motor insurance policy, over in respect of third party property damage is usually subject to what maximum limit?
A) £250,000
B) £1,200,000
C) £10,000,000
D) £20,000,000
A

D) £20,000,000

185
Q

In what way are legal cost for landlord/tenant disputes normally covered, if at all, under the legal expenses extension of a household insurance policy?
A) all costs are covered rather than just court fees
B) a significantly lower excess applies
C) the standard sum insured limit is doubled
D) they are not covered

A

D) they are not covered

186
Q 
A commercial property insurance policy will usually exclude damage arising from
Impact by 
A) aircraft
B) animals
C) own vehicle 
D) third party vehicle
A

C) own vehicle

187
Q

In what circumstances will a public liability insurance policy pay a claim for pollution of air, water or soil?
A) when a court finds that the cause of pollution was an act of god
B) when pollution is caused by immediate discharge consequent Upton an accident.
C) when the insured has paid the appropriate additional premium for pollution
D) when the insured is legally liable for pollution clean up cost

A

B) when pollution is caused by immediate discharge consequent Upton an accident.

188
Q

How long do requests of information under the third party act have to be answered by?

A

28 days

189
Q

What do the following 4 extensions refer to

Recovery costs, civil defence costs, prosecution defence costs, employment dispute costs

A) commercial legal protection
B) group benefits
C) legal expenses
D) commercial policies

A

C) legal expenses

190
Q

Are fines and compensations covered by legal expenses

A

No

191
Q

What does business interruption cover:

A) gross profit and additional expenses incurred as a result of material loss
B) standing charges vs flexible rates
C) turnover minus wages

A

A) gross profit and additional expenses incurred as a result of material loss

192
Q

Which of the following policies aren’t covered under legal expenses

A) deliverers or criminal acts
B) libel and slander
C) divorce
D) disputes between landlord and tenant

A

All are covered

193
Q

What does identify fraud do?

A) covers fines and compensation payments
B) covers administration fees for reapplying for a loan, attendant costs and cost of notarising necessary documentation
C) covering claims arising out of the insureds business
D) covers claims relating to event inside

A

B) covers administration fees for reapplying for a loan, attendant costs and cost of notarising necessary documentation

194
Q

What is the maximum period of short term travel policies

21 days
6 months
3 months
14 days

A

3 months

195
Q

What are the following expenses relating to

Medical treatment, additional hotel/ travelling expenses, additional cost of bringing home the patient, additional expenses of those in the insureds party

A) hospital expenses
B) money expenses
C) death expenses
D) travel expenses

A

D) travel expenses

196
Q

What is the limit for abroad travel and Uk travel

£10 million aboard, £10 million Uk
£10 million abroad, £1,000 uk
£1,000 abroad, £10 million uk

A

£10 million abroad, £1,000 uk

197
Q

What must be a direct consequence for travel insurance

A) medical treatment
B) baggage and personal effects
C) additional hotel expenses
C) loss of deposits

A

C) loss of deposits

198
Q

What is the indemnity limit for personal liability for travel policies

A) between £500,000 to £1 million
B) between £650,000 to £1 million
C) between £1 million to £1.5 million
D) unlimited

A

A) between £500,000 to £1 million

199
Q

What are the three optional extensions referring to

Refrigerated stock, business all risks, legal expenses

A) travel insurance
B) commercial property insurance
C) all risks insurance
D) golds in transit insurance

A

B) commercial property insurance

200
Q

What are the following risks covers under:

Fire and additional perils, BI, theft, Money, glass, assault, goods in transit, EL, PL, product

A) al risks policy
B) commercial business policy
C) commercial property policy
D) they aren’t

A

C) commercial property polic

201
Q

What are the following optional extensions for:

Libel and slander protection, cover against the costs of involvement in public enquiries, cover agains the cost of investigations by professional bodies. Covers against the cost of taxation proceedings

A) money
B) trustee
C) bi
D) legal expenses

A

D) legal expenses

202
Q

Under CIDRA what happens if the misrepresentation was honest and the reasonable

A) the insurer must still pay the claim
B) the insurer can act as it would have done if the question has been answered correctly
C) the insurer is entitled to treat the policy as void and decline all claims

A

A) the insurer must still pay the claim

203
Q

Under CIDRA what happens if the misrepresentation was careless

A) the insurer must still pay the claim
B) the insurer can act as it would have done if the question has been answered correctly
C) the insurer is entitled to treat the policy as void and decline all claims

A

B) the insurer can act as it would have done if the question has been answered correctly

204
Q

Under CIDRA what happens if the misrepresentation was deliberate or reckless

A) the insurer must still pay the claim
B) the insurer can act as it would have done if the question has been answered correctly
C) the insurer is entitled to treat the policy as void and decline all claims

A

C) the insurer is entitled to treat the policy as void and decline all claims

205
Q

Under the insurance act 2015 what happens if the insurer can prove that the breach was deliberate or reckless

A) it can avoid the contract and refuse to pay the claims and not return any premiums paid
B) it can avoid the contract from the beginning but must still pay the claim
C) nothing

A

A) it can avoid the contract and refuse to pay the claims and not return any premiums paid

206
Q

What are the two ways that the insurers can prove they have a valid claim

A) that an insured peril arose
B) that all conditions have been complied with
C) that reasonable steps have been taken
D) the amount of the loss

A

A) that an insured peril arose

D) the amount of the loss

207
Q

What are the duties of the insured after a loss

A) implied and express duties
B) implied duties only
C) expressed duties only
D) none

A

A) implied and express duties

208
Q

What are the purposes of the below to do with:

Establish whether the insured is entitled to indemnity, provide sufficient info, enable to the insurer to take a view as to the severity, enable the insurer to consider whether any potential recovery rights may exist

A) proposal form
B) recovery form
C) claim form

A

C) claim form

209
Q

What properties of the claim form below relate to which claim

Description of the property damaged, date, cause, circumstance and monetary amount lost, situation and occupancy, capacity in which the insured is claiming,

A) property insurance
B) motor insurance

A

A) property insurance

210
Q

What properties of the claim form below relate to which claim

Details of the insured, the date and time of the accident, vehicle involved in the accident, particulars of the drivers at the time, details of the accident

A) property insurance
B) motor insurance

A

B) motor insurance

211
Q

What is the MIB concerned with only

A) uninsured drivers
B) untraced drivers
C) road traffic act liabilities only

A

C) road traffic act liabilities only

212
Q

What is the claims and underwriting exchange (cue) do in regards to fraudulent claims?

A) is a database containing information on personal lines claims and enables anyone to check the true claims history
B)collaboration between insurers
C) is a database containing information on personal lines claims enabling subscribing insurers to check the true claims history

A

C) is a database containing information on personal lines claims enabling subscribing insurers to check the true claims history

213
Q

Under the civil procedure rules courts are under a duty to encourage the parties to use an ADR because:

A) the speed or completion can be time to suit both parties and it is cheaper and more confidential
B) fines aren’t released to public knowledge
C) it’s a quicker process than courts

A

) the speed or completion can be time to suit both parties and it is cheaper and more confidentia

214
Q

Which of the below is conciliation in regards to ADR

A) where they chose to settle a dispute through a mediator who doesn’t make any decisions
B) where the conciliators role is to lead the parties to a settlement

A

B) where the conciliators role is to lead the parties to a settlement

215
Q

What does the following come under:

To avoid bad publicity of the insurance industry, avoid costly and time consuming handling and sets out rules for contribution

A) ABI personal effects contribution
B) bi lateral agreements
C) uninsured drivers agreement
D) untraced drivers agreement

A

A) ABI personal effects contribution

216
Q

What does the uninsured drivers agreement do?

A) covers everyone for uninsured losses
B) tells everyone who is uninsured
C) omits any policy that is uninsured
D) settles court judgements where damages are awarded to third parties where the driver was uninsured

A

D) settles court judgements where damages are awarded to third parties where the driver was uninsured

217
Q

Which of the following have contribution under the ABI personal effects contribution agreement

A)motor
B) specified items
C) all other circumstances

A

All other circumstances

218
Q

What is the motor insurance subrogation portal under bi lateral agreements

A) insurers enter details of any claim to receive payment quicker from other insurers
B) to share motor details
C) to share fraudulent claim details

A

A) insurers enter details of any claim to receive payment quicker from other insurers

219
Q

What does the untraced drivers agreement do

A) covered uninsured drivers
B) covers hit and run cases

A

B) covers hit and run cases

220
Q

What does the untraced drivers agreement do for in patient treatment

A) covers as long as the stay is 4 days or more consecutive
B) covers as long as the stay is 7 days or more consecutive
C) covers as long as the stay is 10 days or more consecutive

A

A) covers as long as the stay is 4 days or more consecutive

221
Q

What is the untraced drivers agreement excess for property damage

A) £1000
B) £250
C) £500
D) £400

A

D) £400

222
Q

What is the third parties act 2010 in relation to liability

A) the liability of the insured to the TP must be established before any rights can be enforced
B) any document requests can be made as a right to information

A

A) the liability of the insured to the TP must be established before any rights can be enforced

223
Q

Under 2010 third party act what does liability adhere to?
A) a third party does need to first obtain judgement against the insolvent insured before issuing a claim against the insurers
B)a third party does NOT need to first obtain judgement against the insolvent insured before issuing a claim against the insurers

A

B)a third party does not need to first obtain judgement against the insolvent insured before issuing a claim against the insurers

224
Q

Under the 2010 third party act what is not part of the insurers defences?

A) the act restricts reliance on policy conditions that the insured is required to fulfil
B)the act allows the insurers to use better defences
C) the act renders ‘pay first’ clauses ineffective
D) prevents the use of limitation defences where proceedings are commenced against the insured

A

B)the act allows the insurers to use better defences

226
Q

How does fraudulent claims impact the bottom line of insurers?

A) raises premiums
B) lose clients
C) lose reputation
D) lowers premiums

A

A) raises premiums

227
Q

In the 2010 act for third parties, the third party can request insurance information if they reasonably believe that;

A)only if a person has insurance
B)only if the right to claim has transferred to the third party
C) a personal is liable to it, that person has insurance and the right to claim has transferred to the third party

A

C) a personal is liable to it, that person has insurance and the right to claim has transferred to the third party

228
Q

What happens where both the insured and the insurer have become insolvent for third party claims?

A) the claim is never settled
B) the claimant can claim under the FSCS
C) the claimant can claim under the FOS
D) the claimant can claim under the FCA

A

B) the claimant can claim under the FSCS

229
Q

What does the enterprise act 2016 contain?

A) it requires (re)insurers to pay sums due to following a claim within reasonable time
B) it requires (re)insurers to make the claimant pay if any delays
C) it requires the claimant to not get in touch with the insurers once a claim has go in

A

A) it requires (re)insurers to pay sums due to following a claim within reasonable time

230
Q

Does the insurer keep the benefit of the salvage if the claim is being settled on a total loss basis?

A

Yes

231
Q

Within fraudulent claims, which body does not deal with fraud prevention?

A) IFB insurance fraud bureau
B) IFiG insurance fraud investigators group
C)CUE the claims and underwriting exchange
D) IFR insurance fraud register

A

C)CUE the claims and underwriting exchange

232
Q

What is the ALR (art loss register)?

A) its a collaboration between insurers and the art world designed to increase the recovery rate of stolen art and antiques
B) A) its a collaboration between insurers and the art world designed to increase the recovery rate of stolen art, but not antiques

A

A) its a collaboration between insurers and the art world designed to increase the recovery rate of stolen art and antiques

232
Q

Which register helps insurers identify if there have been duplicate claims on the same loss?

A) the motor insurance database
B) the claims and underwriting exchange
C) the motor insurance anti-fraud and theft register

A

C) the motor insurance anti-fraud and theft register

233
Q

The FCA publish a number of outcomes based principles; how many outcomes are there?

A

6

234
Q

The FCA publish a number of outcomes based principles, which ones are principles?
A) consumers can be confident they are dealing with firms where the fair treatment of customers is central to corporate culture
B) products and services marketed and sold in retail market are designed to meet the needs identified consumer groups
C) consumers are provided with detailed information regarding the point of sale after the sale
D) consumers are provided with clear information and are kept appropriately informed before during and after the point of sale

A

A
B
D

235
Q

The FCA publish a number of outcomes based principles, which ones are principles?

A) consumers are provided with products that are new and never been tested
B) where consumers receive advice, the advice is suitable and takes account of their circumstances
C) consumers are provided with products that perform as firms have led them to expect, and the associated service is of an acceptable standard and as they have been led to expect
D)consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint

A

B
C
D

236
Q

Who is not an eligible complainant from this list?

A) a consumer
B) a micro enterprise which employs fewer than 10 persons and has a turnover that does not exceed €2million
C)a charity with an annual income of more than 1 million
D) a charity with an annual income of less than 1 million
E) a trust with a net asset value of less than 1 million

A

C)a charity with an annual income of more than 1 million

237
Q

How long should a complaint file for general insurance be retained for?

A) 10 years
B) 3 years
C) 5 years
D) never kept

A

B) 3 years

238
Q

The absolute minimum files kept on a complaint contain which things;

A)Name of person dealing with complaint 
B) name of the complainant
C) if the complaint is in a relationship
D) the capacity
E) the substance of the complaint 
F) how old the complainant is
G) all correspondence and file notes relating to complaint
H) any redress
A

Not d and f

239
Q

If a complaint can not be satisfactorily resolved in 8 weeks what should happen?

A) complaint will go to fos
B) a written response will be provided
C) a verbal response is provided
D) nothing

A

B

240
Q

When will the fos consider a complaint?
Choose as many as apply

A) where the amount concerned is a maximum of £150,000
B) where the amount concerned is a minimum of £150,000
C) only if the insured has already made a formal complaint and received their response or insurer has not responded in 8 weeks
D) only if the insured has already made a formal complaint but not necessarily had a final response
E) not more than six months after the date of the final response
F) any date after the final response

A

A
C
E

241
Q

Due to data protection legislation, which ones of the following list do individuals not have a right to?

A) personal data held on then
B) personal information on member of the firm
C) be informed of any logic in automated decision making relating to them
D) prevent processing likely to cause unwarranted damage or distress
E) stop all processing
F) prevent processing for purposes of direct marketing
G) compensation for damage or distress caused by a breach of act
F) require rectification, erasure or destruction of inaccurate data

A

B and c

242
Q

What are the following three in reference to:
Unauthorised access to a computer, unauthorised access to a computer with intent to commit a serious criminal, unauthorised modification of computer material

A) computer misuse act 1999
B) security and confidentiality
C) DPA 1998

A

A) computer misuse act 1999

243
Q

What must have restricted access, be backed up, protected from theft, be subject to copyright and be stored and disposed of correctly

A) documents
B) information
C) documents and information

A

C) documents and information

244
Q

How many data protection principles are there:

A) 10
B) 5
C) 3
D) 6

A

D) 6

245
Q

How long can you keep data under the data protection principles

A) the recommended amount
B) the required amount
C) no longer that is necessary

A

C) no longer that is necessary

246
Q

What should personal data be?

A) kept relevant and adequate
B) kept adequate, relevant and not excessive

A

B) kept adequate, relevant and not excessive

247
Q

Are the following conditions schedule 1, 2 or 3

1- the data subject has given consent to the processing
The processing is necessary for the performance of the contact
The processing is necessary to comply with legal obligation
The processing is necessary for public interest
The processing is necessary for the pursuit of legitimate interests

A

Schedule 2

IF2 (15 decks)

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