Nuevos volcados de exámenes legales y regulatorios de IF1 Insurance para una buena preparación

Posted by: Martina Comments: 0 Post Date: septiembre 21, 2022

Martina2022-09-21T08:41:39+00:00

El examen Legal y Regulatorio de Seguros (IF1) es un excelente examen de certificación CII para proporcionarle conocimiento y comprensión de los principios básicos del seguro, incluidos los principios legales principales relacionados con los contratos de seguros y los negocios de seguros y los elementos clave para proteger a los consumidores. Cuando se preparan para el examen IF1, los estudiantes de TI pueden canoe los nuevos volcados del examen IF1 para una buena preparación. El equipo profesional ha recopilado 100 preguntas de examen de práctica con respuestas correctas para ser los mejores materiales de preparación del examen de certificación legal y regulatorio (IF1). Nuevos vertederos de exámenes legales y regulatorios de IF1 de Realexam.es Asegurar que pueda tener éxito, antes de asistir a los vertederos de exámenes IF1, puede intentar leer primero las preguntas de demostración gratuitas de IF1.

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1. 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

unenforceable as the consideration is inadequate.

enforceable as consideration does not need to be adequate.

enforceable but only if Harry does not refute the contract within six months of the contract date.

unenforceable unless Harry signs a disclaimer acknowledging the consideration as acceptable.

2. The purpose of the EU solvency requirements for insurers and intermediaries is to

create a standard format for the presentation of accounting data.

introduce monitoring procedures by the Prudential Regulation Authority.

provide authorisation to transact insurance business.

strengthen the financial security of the insurer or intermediary.

3. A risk that is always insurable is a

fundamental risk.

pure risk.

speculative risk.

capital risk.

4. Peter currently has no penalty points on his driving licence, although he was convicted of a minor motoring offence eight years ago.

Why does Peter NOT need to disclose this to his motor insurer?

It represents a physical hazard.

It represents a moral hazard.

It is a spent conviction.

It is information that would not influence an underwriter.

5. What type of organisation is the British Insurance Brokers' Association?

A specialist regulator.

A trade body.

An educational body.

A public limited company.

6. 1.To whom, if anyone, can an agent normally delegate the responsibility imposed on net under an agency agreement?

The agent cannot delegate her responsibility.

To suitably experienced individuals only.

To suitably qualified individuals only.

To anyone able to fulfil the duties.

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

British Insurance Brokers' Association.

Association of British Insurers.

Financial Conduct Authority.

Chartered Insurance Institute.

8. 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?

He must apply to the British Insurance Brokers' Association.

He must apply to the Chartered Insurance Institute.

He cannot use the name as he would be in breach of the Insurance: Conduct of Business sourcebook (ICOBS).

He must apply to the Prudential Regulation Authority.

9. What type of reduction is sometimes applied to the replacement cost of an item under an insurance policy claim in order to reflect the application of indemnity?

Wear and tear.

An excess.

Brokerage.

Loss of interest.

10. Under the Insurance: Conduct of Business sourcebook (ICOBS) on product disclosure, what information about the claims-handling process must an intermediary provide to a consumer?

The policy number only.

The number of days the settlement should take.

The contact details of the insurer.

The contact details of the loss adjuster used by the insurer.

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11. A loss adjuster normally acts on behalf of the

insured.

insurer.

Financial Ombudsman Service.

Financial Services Compensation Scheme.

12. Joel buys a house in a flood plain, but it has NOT flooded for 10 years.

In purchasing insurance, Joel is managing what element of risk?

Uncertainty.

Statutory requirements.

Frequency.

Certainty.

13. 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.

14. 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.

15. The principle of indemnity is the

obligation of the insurer to provide a maximum sum insured or limit of liability.

placing of the insured, at expiry of a policy, in the same financial position as enjoyed at inception.

obligation of the insurer to pay all valid claims according to the terms and conditions of the policy.

placing of the insured, after a loss, in the same financial position as enjoyed immediately before the loss.

16. If an insured signs an agreement with a hold harmless clause, this may prevent the insurer from

disclosing details to a third party.

reinsuring the risk.

pursuing subrogation rights.

increasing the premium.

17. In order for a contract to be legally enforceable, what further action is required after offer and acceptance?

Exchange of consideration between the two parties.

Witnessing by a third party.

Delivery of goods or services concerned.

Provision of written terms and conditions.

18. How does insurable interest arise, if at all. when an insurer arranges reinsurance?

Insurable interest does not arise.

Insurable interest is created by statute.

The insurer is considered to have insurable interest by virtue of its liability to pay claims.

The policyholder is considered to have assigned the insurable interest to the insurer.

19. A Terms of Business Agreement between an insurer and an intermediary sets out the

agreed claims procedures as stated in the Insurance: Conduct of Business sourcebook (ICOBS).

criteria to apply when reporting suspicious incidents to the Money Laundering Reporting Officer.

framework for the commercial relationship, which defines and allocates the respective responsibilities and rights to each party.

disaster recovery procedures to apply if there is a major disaster affecting the insurer.

20. Which key test for money laundering is defined under the Proceeds of Crime Act 2002?

Criminal record.

Criminal lifestyle.

Criminal possession.

Criminal intelligence.

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21. 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?

It is a disciplinary offence under the Banking Code.

It is a civil offence.

It is a criminal offence.

It is a disciplinary offence dealt with by the Money Laundering Joint Steering Committee.

22. John wishes to insure his friend's house.

Why would an insurer refuse to provide a quotation?

His name is not on the mortgage.

He does not have any subrogation rights.

He does not live in the house.

He does not have any insurable interest.

23. How would an employee benefit directly from her employer's business interruption insurance if its factory was forced to close temporarily due to flood damage?

By payment of a redundancy lump sum.

By continuation of her wages.

By compensation for loss of bonus.

By payment of an early retirement pension.

24. 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.

25. 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?

Immediately, irrespective of prognosis.

He does not need to disclose this.

Immediately, but only if the diagnosis is terminal.

At the date of the next premium payment.

Nuevos volcados de exámenes legales y regulatorios de IF1 Insurance para una buena preparación

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