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CII E05 certification exam is a challenging assessment that requires extensive preparation and knowledge of the subject matter. Candidates must have a solid understanding of insurance law and its applications in various contexts. They must also be able to apply this knowledge to real-life situations to provide effective solutions to clients' insurance needs.
NEW QUESTION # 18
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 must be evidenced in documentary form.
- B. It may be implied by conduct.
- C. It may be oral or in writing.
- D. It will usually override any implied term which conflicts with it.
Answer: C,D
NEW QUESTION # 19
A warranty in Emily's personal travel insurance policy states that cash must be kept in a locked safe. Whilst on holiday, a storm destroys her hotel and its contents. When Emily completes a claim form for loss of money, she admits that her cash was NOT locked in the safe. What will be the insurer's likely response to her claim for the lost money?
- A. Reject the claim for breach of warranty.
- B. Pay the claim in full.
- C. Avoid the policy ab initio.
- D. Make an ex-gratia payment.
Answer: B
NEW QUESTION # 20
Which divisional court of the High Court includes a Commercial Court?
- A. Family Division.
- B. Queen's Bench Division.
- C. Chancery Division.
- D. Partnership Division.
Answer: C
NEW QUESTION # 21
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. not unreasonably reject an insured's claim.
- B. handle a claims notification within 14 days.
- C. settle a claim promptly once settlement has been agreed.
- D. provide reasonable guidance to an insured to help him make a claim.
Answer: A,C,D
NEW QUESTION # 22
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 a corporation aggregate?
- A. It is an organisation with a separate legal existence to its membership.
- B. It is answerable to its shareholders or members.
- C. It is a legal person representing one official position.
- D. It is not treated as a separate legal entity.
Answer: A,B
NEW QUESTION # 23
In respect of a life assurance policy, the duty to take reasonable care NOT to make a misrepresentation ends when the proposer
- A. signs and submits the completed proposal form to the insurer.
- B. forms the contract with the insurer.
- C. dies and his estate submits a claim to the insurer.
- D. assigns the contract to a third party.
Answer: B
NEW QUESTION # 24
A person insures her own life under a life insurance policy but does so expressly for the benefit of another. To facilitate this, which type of arrangement is most commonly established?
- A. Coinsurance.
- B. Lien.
- C. Power of Attorney.
- D. Trust.
Answer: D
NEW QUESTION # 25
In what circumstances is abandonment automatic under a marine hull insurance policy?
- A. The insured has sent a formal notice of abandonment.
- B. The constructive total loss of the vessel.
- C. The insured has performed an action of abandonment.
- D. The actual total loss of the vessel.
Answer: D
NEW QUESTION # 26
Dan made a financial arrangement on behalf of Liz. However, Liz had the arrangement set aside by the court on the basis that she had been unduly influenced by Dan. To establish undue influence, the court must have specifically identified Dan as
- A. a person holding a dominant position over Liz.
- B. Liz's husband.
- C. Liz's independent financial adviser.
- D. a person holding a senior position at Liz's bank.
Answer: A
NEW QUESTION # 27
When a defendant deliberately destroys possessions belonging to someone else, he has committed the tort(s) of
- A. trespass to goods, conversion, nuisance and battery.
- B. trespass to goods, conversion and nuisance only,
- C. trespass to goods and conversion only.
- D. trespass to goods only.
Answer: D
NEW QUESTION # 28
The proximate cause of a loss is best described as the
- A. most dominant cause of the loss.
- B. most remote cause of the loss.
- C. first peril to cause the loss.
- D. final peril to cause the loss.
Answer: A
NEW QUESTION # 29
What is the most common for of corporation?
- A. Chartered corporation.
- B. Statutory corporation.
- C. Corporation sole.
- D. Registered corporation.
Answer: D
NEW QUESTION # 30
For this question more than 1 option is correct. You must select all the correct options to gain the mark. What are the main sources of new English Law?
- A. Official law reports.
- B. International treaties.
- C. Legislation.
- D. Case law.
Answer: C,D
NEW QUESTION # 31
In the tort of negligence, a primary victim of nervous shock is a class of person who suffers psychiatric injury
- A. as a result of stress or harassment at work.
- B. as a result of grief or sorrow for the loss of a person with whom he had a close relationship.
- C. through fear for his own safety in an accident.
- D. through fear for the safety of another person involved in an accident which he witnessed.
Answer: C
NEW QUESTION # 32
John owns stock that he intentionally insured for £15,000, although the full value of the stock is £18.000. His insurance policy has no excess and is subject to a pro rata condition of average. In the event of water damaging
£6.000 of John's stock, how much will the insurer pay for a valid claim after the application of average?
- A. £3,000
- B. £5,000
- C. £6,000
- D. £15,000
Answer: B
NEW QUESTION # 33
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. On submission of a claim.
- C. It does not apply as the duty is to take reasonable care not to make a misrepresentation.
- D. Where there is a variation in the insured risk.
Answer: D
NEW QUESTION # 34
A professional indemnity policy includes a condition requiring that the insured must give prompt notice of any circumstance that could give rise to a claim. What type of condition is this?
- A. A condition precedent to liability.
- B. A condition precedent to the contract.
- C. A suspensive condition.
- D. A collateral condition.
Answer: A
NEW QUESTION # 35
What are the main objectives of the principle of insurable interest?
- A. To reduce physical hazard and to discourage profiteering.
- B. To reduce moral hazard and to discourage wagering.
- C. To reduce physical hazard and to discourage wagering.
- D. To reduce moral hazard and to discourage profiteering.
Answer: B
NEW QUESTION # 36
For this question more than 1 option is correct. You must select all the correct options to gain the mark.
A proposer for private motorcycle insurance carelessly states the motorcycle's engine capacity as 500cc when in fact it is 1500cc. A policy is issued by the insurer on this basis. In the event of a valid claim causing damage to the motorcycle, what potential remedies are available to the insurer under the Consumer Insurance (Disclosure and Representations) Act 2012?
- A. Apply any terms it would have applied if the misrepresentation had not taken place.
- B. Reduce the claim amount in proportion to the premium it would have charged.
- C. Avoid the contract, refuse all claims and keep the premium.
- D. Reject the claim, but maintain the policy.
Answer: A,B
NEW QUESTION # 37
For this question more than 1 option is correct. You must select all the correct options to gain the mark. In a consumer insurance policy, a warranty can arise as
- A. an exception clause.
- B. an express term.
- C. a basis of the contract clause.
- D. a continuing warranty.
Answer: B,C
NEW QUESTION # 38
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CII E05: Examination element of M05 Insurance law is designed to assess the knowledge and understanding of the legal and regulatory framework governing the insurance industry. E05 exam is intended for individuals who are interested in pursuing a career in the insurance industry or for those who are already working in the sector and want to enhance their knowledge of the legal aspects of insurance.
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