Only need to practice for 20 to 30 hours
You will get to know the valuable exam tips and the latest question types in our E05 certification training files, and there are special explanations for some difficult questions, which can help you to have a better understanding of the difficult questions. All of the questions we listed in our E05 practice exam materials are the key points for the IT exam, and there is no doubt that you can practice all of E05 best questions within 20 to 30 hours, even though the time you spend on it is very short, however the contents you have practiced are the quintessence for the IT exam. And of course, if you still have any misgivings, you can practice our E05 certification training files again and again, which may help you to get the highest score in the IT exam.
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Simulate the real exam
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CII Examination element of M05 Insurance law Sample Questions:
1. Two liability policies with different insurers cover the same loss of £15,000,000. The limit of liability is
£10,000,000 under policy X and £20,000,000 under policy Y. Neither policy has a non-contribution clause.
What amount will policy Y contribute towards the claim payment?
A) £10,000,000
B) £7,500,000
C) £9,000,000
D) £5,000,000
2. A property policy contains a condition regarding prompt loss notification. If the insured fails to comply with this condition, in practice, the insurer is likely to
A) only avoid the claim if the delay has seriously prejudiced its investigation and handling of the claim.
B) settle the claim and cancel the insurance policy from inception.
C) settle the claim and recover its outlay from the insured.
D) avoid the claim automatically due to the breach of the policy condition.
3. 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 may be oral or in writing.
B) It will usually override any implied term which conflicts with it.
C) It must be evidenced in documentary form.
D) It may be implied by conduct.
4. 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) Avoid the contract, refuse all claims and keep the premium.
B) Reduce the claim amount in proportion to the premium it would have charged.
C) Reject the claim, but maintain the policy.
D) Apply any terms it would have applied if the misrepresentation had not taken place.
5. What is the intended purpose of a subrogation waiver clause in an insurance po
A) Cover is suspended whilst the insurer pursues an action for subrogation.
B) The doctrine of subrogation is excluded from the policy.
C) The insured has a duty to ensure that the insurer's subrogation rights are maintained.
D) The insurer's subrogation rights will not be exercised against certain parties associated with the insured.
Solutions:
Question # 1 Answer: C | Question # 2 Answer: D | Question # 3 Answer: A,B | Question # 4 Answer: B,D | Question # 5 Answer: D |