Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

CII IF1 > Mixed questions > Flashcards

Mixed questions Flashcards

1
Q

The Enterprise Act 2016

A

Protects Policy Holder if the insurer does not settle valid claims within reasonable time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Insurance Act 2015

A
  • business customers must make a fair representation of the risk to the insurers
  • a circumstance or representation is material if it would influence the judgement of insurer to determine whether to take the risk or not
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

CIDRA - main features

A
  • consumers must take reasonable care not to make a misrepresentation to the insurers
  • pre-contractual duty of disclosure was abolished
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Employers Liability (compulsory Insurance)Act 1969 made it compulsory

A

for employers in Great Britain to effect Employers Liability Insurance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Contracts(Right of Third Parties)Act 1999 set out

A

The circumstances in which a third party will have a right to enforce a term of contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

The Thirds Parties (Rights Against Insurers)Act 2010 protects

A

Insurance proceeds from the effects of insolvency

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

The GDPR and Data Protection Act 2018 have replaced

A

The Data Protection Act 1998

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

The Consumers’ Rights Act 2015 provides Protection

A

for consumers relating to unfair terms in contacts between consumers and a trader/seller or supplier

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

IUA - International Underwriting Association

A

World’s largest representation organisation for International and whole sale insurers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

ABI -

A

Body representing Insurers in UK

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

BIBA

A

Trade association for Insurance Intermediaries

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

LMRC

A

arm of BIBA representing Lloyds and other brokers in London - lobbying role

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

LIIBA

A

Trade body representing Brokers in London and worldwide Insurance and Reinsurance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

LMA

A

provides representation, information , technical services to underwriting business in Lloyds

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

MGAA

A

Trade body for MGAs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

CILA

A

Professional body for Loss Adjusters

17
Q

CII

A

Professional body for all working in Insurance

18
Q

IRM

A

Provides qualifications Risk Management Professionals

19
Q

MIB

A

Has two agreements with the Government

  • Uninsured Drivers’ Agreement
  • Untraced Drivers’ Agreement
20
Q

Physical Hazards in Motor Insurance

A

Age of car
Age of Drivers
Previous accidents

21
Q

Physical Hazards - Theft Insurance

A

Nature of Stock

Security Precautions

22
Q

Physical Hazards in Fire

A

Construction of the Building
nature of Use
Heating and Electrical systems

23
Q

Moral Hazards - Insurance History

A

Previous refusals

History of Claims

24
Q

Moral Hazards - Personal History

A

Criminal convictions

Lack of good business management

25
Q

Meaning of Warranty

A

Generally means a guarantee or promise to provide assurance by one party from another

26
Q

Binders

A

Delegated Authority Schemes

27
Q

Duties of Principal

A

Remuneration

Indemnity - subject to express terms

28
Q

Subject Matter of Insurance

A

Is the property event of liability

29
Q

Subject Matter of Contract

A

Financial interest in the subject matter of Insurance

30
Q

Benefit Policies

A 
Accident
Life
Pensions
Annuity
Investment Contracts
Personal Accident
Sickness
Critical Illness
Payment Protection Indemnity
Hospital Cash Plans
Permanent Health
Elements of Travel Insurance
31
Q

Indemnity Option

A

Cash Payment
Repair
Reinstatement
Replacement

32
Q

Indemnity Policies

A

Marine
Fire
Property and Motor ( Options of Idemnity)

33
Q

Compulsory Insurances

A

Private Individuals

  • Motor
  • Ownership of dangerous dogs

Professional Business

  • Employers’ Liability
  • Public Liability - some traders/Riding Establishments
  • Professional Indemnity
  • Marine Pollution Liability
  • Operation of Nuclear reactors
34
Q

Aim of Competition Markets Authority

A

To promote fair Competition for the benefit of consumers both within and outside of UK

35
Q

Super Complaints are handled by

A

FCA - earlier by OFT - Office of Fair Trading

36
Q

Member Agent @Lloyds

A

Is a form of Specialist Financial Advisor to potential individual buyers

CII IF1 (2 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions