Incorrect Mock Qs

Question 1

Which insurance policy specifically covers a solicitor’s loss of profits?

Answer 1

Business Interruption

Question 2

What limit of cover applies for a legal expenses policy?

Answer 2

cover is unlimited but there is a limit per claim

Question 3

Under a household policy, subsidence cover responds to damage caused by…

Answer 3

tree roots

Question 4

Glass insurance excludes glass breakages caused by…

Answer 4

fire, lightning or explosion

Question 5

Under a personal accident policy, if someone breaks their arm and cannot work for 3 months what benefit will be provided?

Answer 5

A regular payment for temporary total disablement

Question 6

Which type of insurance will an insurer use a proposal form for additional info as opposed to a survey?

Answer 6

Money

Question 7

What is the main UW consideration for personal accident insurance?

Answer 7

occupation

Question 8

If an Insured hasn’t paid their premium and a claim occurs, what rights does the insurer have?

Answer 8

the insurer can reject the entire claim

Question 9

what is a grace period for?

Answer 9

to allow the insurer to pay the policy renewal premium

Question 10

What countries apply to the Rehabilitation of Offenders Act 1974?

Answer 10

England and Wales only

Question 11

What organisation’s rules does a broker base their compliance on?

Answer 11

FCA

Question 11

What settlement method is used for BI losses?

Answer 11

Payment of money

Question 12

An insured is subject to implied duties when..

Answer 12

submitting a claim

Question 13

If someone has to use an authorised repairer for their car, how is this settled?

Answer 13

The insured pays the excess to the repairer then the insurer pays the remaining balance to the repairer

Question 14

What is the earliest point that an insurer can terminate an insurance policy following a fraudulent claim?

Answer 14

From inception of policy

Question 15

Why would an insurer register claim details on MIAFTR

Answer 15

To help prevent fraud

Question 15

When is an amount reserved in the claims process?

Answer 15

At the time the claim is notified

Question 16

What is the purpose of installing a new router into a computer?

Answer 16

To manage the flow of electronic traffic

Question 17

To transfer data outside of the UK without checking level of protection..

Answer 17

Anywhere in EEA

Question 18

When an insurer accept salvage it..

Answer 18

Decreased the insurers total outlay

Question 19

When a listed building needs settling it’ll be by

Answer 19

Reinstatement

Question 20

When an insurer retains salvage the insurer pays ..

Answer 20

The difference between the total loss value and the salvage value

Question 21

When does the MIV pass a claim to an insurer

Answer 21

Where policy terms have been breached

Question 22

Professional indemnity financial info requested

Answer 22

Gross revenue

Question 23

Commercial legal expenses doesn’t provide cover for

Answer 23

Public liability disputes

Question 24

Who is held responsible for running of a company

Answer 24

Company directors only

Question 25

Normal subsidence excess

Answer 25

£1,000