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CII Insurance law (IL) Sample Questions:
1. John has a whole of life policy and has recently been diagnosed with cancer. When, if at all. must he disclose this to his insurer?
A) He does not need to disclose this.
B) At the date of the next premium payment.
C) Immediately, irrespective of prognosis.
D) Immediately, but only if the diagnosis is terminal.
2. When the rule in Rylands v Fletcher operates, liability arises from the:
A) defendant's trespass to land
B) vicarious liability of the defendant
C) defendant's negligence.
D) strict liability of the defendant
3. Julie has agreed to feed lan's cat whilst he is away on holiday in a remote location. When the cat becomes seriously ill. Julie is unable to contact Ian, so she takes the cat to the vet and also pays the vet's bill. In these circumstances. Julie is best described as:
A) an agent by necessity
B) an agent by estoppel
C) an implied agent
D) an express agent
4. Which of the following is an essential element in the formation of an insurance contract?
A) A formal written agreement
B) A signed declaration by the policyholder
C) The payment of a premium
D) A valid claim history
5. Which of the following regulatory bodies oversees the conduct of insurance firms in the UK?
A) Financial Conduct Authority (FCA)
B) Bank of England
C) Prudential Regulation Authority (PRA)
D) Insurance Ombudsman Service
Solutions:
Question # 1 Answer: A | Question # 2 Answer: D | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: A |