QUESTION 32
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?

QUESTION 33
The main function of an insurance broker is to

QUESTION 34
In the event of an insurer including an unclear clause in its household insurance policy, which statute could the policyholder rely upon if there was a contractual dispute?

QUESTION 35
The Financial Services Compensation Scheme was established to help policyholders in the event of

QUESTION 36
What type of risk is a widespread natural disaster?

QUESTION 37
Under common law. when does the insured’s duly of fair presentation cease with regard to declarations that do NOT affect policy cover?

QUESTION 38
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?

QUESTION 39
Which key test for money laundering is defined under the Proceeds of Crime Act 2002?

QUESTION 40
Under the Consumer Rights Act 2015. a clause in a household insurance policy may be considered unfair if it

QUESTION 41
For which professional is professional indemnity insurance compulsory by statute?

QUESTION 42
Under the regulator’s training and competency rules, a general insurance employee carrying out a non-WiFID business activity

QUESTION 43
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

QUESTION 44
Under the provisions of the Financial Services Act 2012. what action, if any, can the regulator take against a firm that has committed money laundering offences?

QUESTION 45
To whom, if anyone, can an agent normally delegate the responsibility imposed on net under an agency agreement?

QUESTION 46
What is the basis of settlement under a new for old insurance policy if a television is stolen?

QUESTION 47
Which professional body specialises in giving its members advice on the long-term management of assets and liabilities?

QUESTION 48
The capital requirements of insurers and intermediaries are set out by

QUESTION 49
A retail customer CANNOT buy insurance directly from which type of insurer?

QUESTION 50
A Terms of Business Agreement between an insurer and an intermediary sets out the

QUESTION 51
Barbara owns a factory employing 20 people. What insurance is she required to hold by law?

QUESTION 52
From April 2019. a small company with nine employees is in dispute with its insurer and wishes to refer the matter to the Financial Ombudsman Service (FOS). The FOS is only permitted lo deal with the dispute if the insured’s turnover does NOT exceed