[Q28-Q42] Master 2023 Latest The Questions Certificate in Insurance and Pass IF1 Real Exam!

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Master 2023 Latest The Questions Certificate in Insurance and Pass IF1 Real Exam!

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NEUE FRAGE 28
Under the Consumer Rights Act 2015. a clause in a household insurance policy may be considered unfair if it

discriminates against one of the persons insured on the grounds of nationality, gender or sexual orientation only.

causes a significant imbalance in the parties’ rights and obligations arising under the contract, to the disadvantage of the insured.

allows any party other than the insured to enforce the insurer’s obligations under the policy.

imposes unreasonable obligations on the insurer in terms of costs or expenses that must be paid in addition to the amount of any loss.

NEUE FRAGE 29
What legally recognised financial relationship must exist, between a policyholder and the items being insured, to constitute a valid household contents insurance policy?

Insurable interest.

Risk indemnity.

Vicarious liability.

Delegated authority.

NEUE FRAGE 30
Under a coinsurance arrangement, who is ultimately responsible for payment of an agreed claim?

Each coinsurer for its own proportion, but also a share of any proportion unpaid due to the default of another coinsurer.

The lead insurer.

The intermediary.

Each coinsurer for its own proportion only.

NEUE FRAGE 31
The Financial Ombudsman Service will make a ruling on a dispute between

a third party and the insurer against whom he is making a liability claim.

a private individual and an insurer.

an insurer and a reinsurer.

an insurance broker and an insurer.

NEUE FRAGE 32
A claim has arisen which is fully covered under insurer A’s policy and insurer B’s policy. Insurer A’s policy has a sum insured of £30,000 and insurer B’s policy has a sum insured of £50,000. What proportion of the claim is insurer B liable for if the principle of contribution applies on a rateable proportion by sum insured basis?

Two fifths.

Three fifths.

Three eighths.

Five eighths.

NEUE FRAGE 33
Barbara owns a factory employing 20 people. What insurance is she required to hold by law?

Public liability insurance.

Products liability insurance.

Professional indemnity insurance.

Employers’ liability insurance.

NEUE FRAGE 34
Who is represented by a loss assessor?

A policyholder.

A broker.

A claims handler.

An underwriter.

NEUE FRAGE 35
A risk that is always insurable is a

fundamental risk.

pure risk.

speculative risk.

capital risk.

NEUE FRAGE 36
The Financial Services Compensation Scheme was established to help policyholders in the event of

unreasonable policy terms and conditions.

the financial failure of an insurance company.

the repudiation of liability by an insurer.

fraud perpetrated by an insurance broker.

NEUE FRAGE 37
Insurers and intermediaries are required to adhere to solvency requirements as stipulated by the

Financial Services Compensation Scheme.

Financial Ombudsman Service.

Association of British Insurers.

European Union.

NEUE FRAGE 38
A policyholder achieves peace of mind when insuring his car by

eliminating the risk of loss.

reducing the chance of a loss occurring.

preventing the chance of a loss occurring.

transferring the risk to the insurer.

NEUE FRAGE 39
The requirement 10 notify the fitting of a more powerful engine under a motor insurance policy is an example of a policy wording modifying the principle of

subrogation.

contribution.

good faith.

indemnity.

NEUE FRAGE 40
When Susan applied for a new household contents insurance policy, she was obliged to disclose her extensive claims history. Such details are normally known as

indemnity.

warranties.

contractual terms.

material circumstances.

NEUE FRAGE 41
Which principle of insurance prevents a member of the public from taking out an insurance policy on the life of a celebrity in the hope of receiving a windfall on the celebrity’s death?

Indemnity.

Insurable interest.

Good faith.

Proximate cause.

NEUE FRAGE 42
Under common law. when does the insured’s duly of fair presentation cease with regard to declarations that do NOT affect policy cover?

When the policy contract lakes effect.

When a claim is paid.

When a claim is submitted.

At renewal.

Laden …