Exam Dumps VCE

Q30. Barbara owns a factory employing 20 people. What insurance is she required to hold by law?

Q31. Sara searches on a comparison website for car insurance. She selects the cheapest quotation and pays by credit card for immediate cover. This is known as

Q32. 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?

Q33. A Terms of Business Agreement between an insurer and an intermediary will normally state that the insurer will deal with the policyholder

Q34. Which distribution channel for household insurance is typically characterised by high advertising and promotional costs, with no payment of commission?

Q35. What are the other key components of risk apart from uncertainty?

Q36. The accident record for a printworks show that for every one major injury, there have been 30 minor incidents and 900 non-injury events reported. How would major work injuries be classified in relation to frequency and severity?

Q37. Bye-laws are passed at the Lloyd’s Market by the

Q38. The main purpose of the fair treatment of customers initiative is to

Q39. How do an insurer’s subrogation rights differ, if at all, between a theft policy and a personal accident policy?

Q40. The purpose of Insurance Premium Tax is to

Q41. Harry owns a sports car valued at £1.000 and agrees to sell it to Ben for £500. Ben discusses this with his solicitor who states the contract is

Q42. John wishes to insure his friend’s house. Why would an insurer refuse to provide a quotation?

Q43. It is important to ensure the fair treatment of customers in order to comply with rules set by the

Q44. If the amount to be paid in the event of a total loss of insured property is agreed between the proposer and the insurer at inception of the policy, this is a modification of the principle of

Q45. The Financial Ombudsman Service will make a ruling on a dispute between

Q46. An investor is unable to obtain insurance to protect his potential losses while trading on the stock market because the category of risk is deemed to be

Q47. Joe is a broker who has become a Fellow of the Chattered Insurance Institute. If he would like to use the title Chartered Insurance Broker, what must he do. if anything?

Q48. 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?

Q49. A retail customer CANNOT buy insurance directly from which type of insurer?

Q50. Michael, an insurance company employee, strongly suspects that a recent transaction involved money laundering but decides NOT to report his suspicions to anyone. How is this treated under the current Money Laundering Regulations?