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CII E05 - Examination element of M05 Insurance law

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Total 50 questions

According to statute law, an unfair term in a consumer insurance contract is defined as one which

A.

provides insurance where the scope of cover is narrow compared to the premium charged.

B.

causes a significant imbalance in the parties' rights to the detriment of the consumer.

C.

has been individually negotiated and is to the detriment of either one of the parties.

D.

does not restrict liability for death or personal injury.

What is the maximum contingency fee percentage under a damages-based agreement that can be charged by a solicitor for personal injury cases and employment tribunal cases respectively?

A.

35% for personal injury cases and 25% for employment tribunal cases.

B.

25% for personal injury cases and 35% for employment tribunal cases.

C.

35% for both cases.

D.

50% for both cases.

Insurance agencies are usually created by way of

A.

implied agreement.

B.

unilateral agreement.

C.

express agreement.

D.

deed of agreement.

In the tort of negligence, a primary victim of nervous shock is a class of person who suffers psychiatric injury

A.

through fear for his own safety in an accident.

B.

through fear for the safety of another person involved in an accident which he witnessed.

C.

as a result of stress or harassment at work.

D.

as a result of grief or sorrow for the loss of a person with whom he had a close relationship.

When, if at all, does the duty of fair presentation of a risk apply after a non-consumer insurance contract has been formed?

A.

From the date of a breach of warranty.

B.

It does not apply as the duty is to take reasonable care not to make a misrepresentation.

C.

Where there is a variation in the insured risk.

D.

On submission of a claim.

Which divisional court of the High Court includes a Commercial Court?

A.

Queen's Bench Division.

B.

Partnership Division.

C.

Chancery Division.

D.

Family Division.

A claimant may possibly recover money transferred under an illegal contract when

A.

the illegality makes the contract voidable rather than void.

B.

both parties to the contract are equal in wrongdoing.

C.

the contract is against public policy but not substantive law.

D.

the legal portion of the contract can be severed from the illega portion.

In what circumstances is abandonment automatic under a marine hull insurance policy?

A.

The insured has performed an action of abandonment.

B.

The actual total loss of the vessel.

C.

The constructive total loss of the vessel.

D.

The insured has sent a formal notice of abandonment.

For this question more than 1 option is correct. You must select all the correct options to gain the mark. What are the characteristics of an express term in reaching or recording an agreement?

A.

It will usually override any implied term which conflicts with it.

B.

It must be evidenced in documentary form.

C.

It may be oral or in writing.

D.

It may be implied by conduct.

For this question more than 1 option is correct. You must select all the correct options to gain the mark.

The Insurance: Conduct of Business sourcebook (ICOBS) rules in respect of claims handling specify that an insurer must

A.

settle a claim promptly once settlement has been agreed.

B.

handle a claims notification within 14 days.

C.

provide reasonable guidance to an insured to help him make a claim.

D.

not unreasonably reject an insured's claim.