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MVRUS > Legal Documents > Flashcards

Legal Documents Flashcards

1
Q

Who is the first party/policyholder in relation to insurance?

A

The road user

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2
Q

Who is the second party in relation to insurance?

A

The insurance company also known as the insurance brokers

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3
Q

Who is the third parties in relation to insurance?

A

All other parties as result of an accident

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4
Q

What does the term premium mean?

A

The price you pay for motor insurance

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5
Q

What may effect the cost of insurance?

A

Vehicle type, vehicle use, age, driving record.

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6
Q

What does the term ‘No claims bonus’ mean?

A

The proportion by which the gross premium payable is reduced following one or more years free from claim.

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7
Q

What are the 3 types of motor insurance?

A
  1. Third party
  2. Third party fire & theft
  3. Fully comprehensive
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8
Q

What is third party insurance?

A

Will only cover you against damage to property and injury to third parties.

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9
Q

What is third party fire & theft insurance?

A

Same as third party but you can claim if your car is stolen or set on fire.

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10
Q

What is fully comprehensive insurance?

A

Covers all parties involved in an accident.

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11
Q

What is a broker?

A

Insurance specialist who sells insurance.

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12
Q

What is a proposer?

A

Person or organisation seeking insurance

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13
Q

What is a proposal form?

A

Form which proposer will write their answers to questions forming the basis of contract

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14
Q

What is a cover note?

A

Temporary certificate produced for 30-60days whilst permanent certificate is being prepared.

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15
Q

What is a certificate?

A

Sheet giving details of policyholder, vehicle, permitted drivers, class of use covered, and insurance cover start and end dates

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16
Q

What is a policy?

A

Written evidence of precise terms of contract agreed between the insured and insurer.

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17
Q

What is an underwriter?

A

Person in insurance company who decides whether to accept proposal for insurance end, and what terms it should be accepted

18
Q

What is a policy holder?

A

Person who signed proposal form, which is basis of contract

19
Q

What is an indemnity?

A

Compensation which restores a persons financial position after a loss, to the same as it was immediately before the loss.

20
Q

What is a renewal notice?

A

A reminder policy falls due for renewal on states date and indicates amount of premium to be paid.

21
Q

What does excess mean?

A

Term used to describe the start/percent amount that a vehicle owner wishes to pay for damage caused in an accident as result of their fault. The insurance company pays the rest.

22
Q

What is a protected bonus?

A

Means your no claims bonus is protected.

23
Q

What age and what must the person have to be supervising a learner driver?

A

21y/o and held a license for 3 years.

24
Q

What is the speed limit for drivers on R plates?

A

45mph

25
Q

What age must you be to drive a Public service vehicle or heavy goods vehicle?

A

21

26
Q

How often can you tax your vehicle?

A

6months or 1 year.

27
Q

What information must a tax disc show?

A

Expiry date, price paid, tax grouping, vehicle make and registration

28
Q

Why is a SORN Document needed?

A

To declare ownership of a vehicle which is “off the road” and state it’s whereabouts.

29
Q

What is a V5 form?

A

A vehicle registration document

30
Q

What information is on a V5 Form?

A

-Name and address of current owner of vehicle.
-Make and model of vehicle
-Taxation class
-Colour and identification marks
-Date of registration
-Number of previous owners

31
Q

How long is MoT valid for?

A

12 months

32
Q

Why is MoT needed?

A

Assures vehicle is still in roadworthy condition

33
Q

When should you renew MoT?

A

A month before expiry date

34
Q

What are some things that may be checked in a MoT test?

A

Steering, suspension, engine, lights, mirrors

35
Q

What is a vehicle registration document also known as?

A

A V5 Form

36
Q

What are the four main areas of costs once buying a vehicle?

A
  1. Purchase costs (price of vehicle)
  2. Standing costs (legal requirements)
  3. Running costs (day to day costs)
  4. Additional costs (parking & fines etc)
37
Q

What are 3 things you can do before purchasing a 2nd hand vehicle?

A
  1. Check mileage
  2. Always View in broad daylight
  3. Ask to see MoT certificate and etc
38
Q

What is the minimum tread depth needed in tyres on the road?

A

Cars, vans and, light vehicles: 1.6mm
Motorcycles, large vehicles: 1.0mm

39
Q

What information can you find on the side of a tyre?

A
  1. Diameter of wheel
  2. Nominal section width
  3. Aspect ratio
40
Q

What are 3 appropriate child restraints in a car?

A
  1. Baby carrier
  2. Child seat
  3. Harness or booster seat
41
Q

Who’s responsibility is it to ensure children under 14 in vehicle are secure at start of journey?

A

The driver

MVRUS (12 decks)

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