Q27. An intermediary needs to place a large properly risk, however the insurance company can only write 25% of the risk. What type of insurance arrangement would the intermediary require to complete the risk?

Q28. If a proposer has failed to fully answer a question on a proposal form, the insurer is deemed to have waived its rights to this information because it

Q29. When motor insurance is purchased directly with an insurer, what is usually the main disadvantage to the policyholder in the event of a claim compared to purchasing indirectly through a different marketing channel?

Q30. 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?

Q31. An insured is temporarily disabled due to illness and unable to work. During this period, what type of insurance policy will typically pay a weekly benefit for up to two years?

Q32. A house slatls to have subsidence problems due to the negligence of a cable-laying company. The owner of the house claims under his household buildings insurance policy. Which principle allows the insurer to recover from the cable-laying company?

Q33. What type of organisation is the British Insurance Brokers’ Association?

Q34. Lloyd’s is known as a subscription market because

Q35. If a surveyor is sent lo survey a risk, what does risk primarily refer to in this context?

Q36. What is the basis of settlement under a new for old insurance policy if a television is stolen?

Q37. Who can place business directly with a Lloyd’s underwriter?

Q38. John wishes to insure his friend’s house. Why would an insurer refuse to provide a quotation?

Q39. Reinsurance is usually purchased by the

Q40. 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?

Q41. Which typo of insurer is owned by multiple policyholders?

Q42. 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

Q43. 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

Q44. A risk control survey shows that premises proposed for insurance are in close proximity to a river with a history of flooding. The underwriter will consider this fact to be a

Q45. In accordance with the principle of good faith, which facts must a potential policyholder disclose to the insurer when applying for insurance?

Q46. The Financial Ombudsman Service will make a ruling on a dispute between

Q47. A firm of insurance brokers invite Stuart. an underwriter who handles its account, on a Caribbean cruise with his family. How should Stuart react to this invitation in order to comply with the Chartered Insurance Institute’s Code of Ethics?

Q48. The main function of an insurance broker is to

Q49. Under common law. when does the insured’s duly of fair presentation cease with regard to declarations that do NOT affect policy cover?

Q50. 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?