2026 M05 Valid Cram Materials | Perfect M05 100% Free Test Questions Pdf

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CII M05 Exam Syllabus Topics:

Section	Objectives
Insurance Contract Terms and Vitiating Factors	- Factors affecting validity 1. Non-disclosure 2. Fraud 3. Misrepresentation - Policy terms and breaches 1. Warranties 2. Representations 3. Conditions
Subrogation and Contribution	- Recovery rights and sharing of losses 1. Contribution 2. Subrogation
Insurance Claims	- Claims process and legal principles 1. Claims handling 2. Policyholder duties 3. Claims notification
Formation of Insurance Contracts	- Core insurance principles 1. Disclosure and misrepresentation 2. Insurable interest 3. Utmost good faith
Nature and Sources of English Law and Legal Persons	- Nature and sources of English law 1. European and international influences 2. Statute law 3. Common law - Legal personality 1. Natural persons 2. Juristic persons
Law of Agency and Insurance	- Agency relationships 1. Creation of agency 2. Authority of agents 3. Duties and liabilities
Law of Contract	- Contract formation and operation 1. Consideration 2. Breach of contract 3. Terms of contract 4. Offer and acceptance
Indemnity and Loss Measurement	- Principle of indemnity 1. Valuation of loss 2. Methods of indemnification
Law of Torts	- Principles of tort law 1. Nuisance 2. Negligence 3. Trespass

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Real CII M05 Questions - Verified By Experts

These formats are CII M05 PDF dumps, web-based practice test software, and desktop practice test software. All these three Insurance law (IL) Exam (M05) exam questions contain the real, valid, and updated CII Exams that will provide you with everything that you need to learn, prepare and pass the challenging but career advancement M05 Certification Exam with good scores.

CII Insurance law (IL) Exam Sample Questions (Q79-Q84):

NEW QUESTION # 79
What is the role of an insurance broker in a typical insurance transaction?

A. To provide legal advice and act as a lawyer for the insured
B. To act as a middleman between the insurer and the insured, negotiating the terms of the policy
C. To pay insurance premiums on behalf of the insured
D. To ensure the insurer complies with all regulatory requirements

Answer: B

Explanation:
Insurance brokers act as intermediaries between the insurer and the insured, helping the insured find suitable coverage by comparing policies and negotiating terms. They do not typically act as legal advisors or manage premiums.

NEW QUESTION # 80
The principle of indemnity is the

A. placing of the insured, after a loss, in the same financial position as enjoyed immediately before the loss.
B. obligation of the insurer to pay all valid claims according to the terms and conditions of the policy.
C. placing of the insured, at expiry of a policy, in the same financial position as enjoyed at inception.
D. obligation of the insurer to provide a maximum sum insured or limit of liability.

Answer: A

NEW QUESTION # 81
When an insurer is aware that the total value of stock is more than the sum insured and issues a policy on this basis, this is known as

A. a new for old policy.
B. a real statement.
C. a first loss policy.
D. an indemnity policy.

Answer: C

NEW QUESTION # 82
Which of the following statements is true regarding exclusions in an insurance policy?

A. Exclusions apply only if the loss is caused by fraud
B. Exclusions are added to increase the risk of the insurer
C. Exclusions are always inapplicable if the insured pays extra for coverage
D. Exclusions limit the scope of coverage, specifying situations that are not covered

Answer: D

Explanation:
Explanation:Exclusionsare provisions in an insurance policy that specify certain events or situations that are not coveredby the policy, even if a loss occurs. For example, war or terrorism may be excluded from certain policies. These exclusions help the insurer manage risk.

NEW QUESTION # 83
What is the role of a condition precedent in an insurance policy?

A. It is a requirement that must be met before the insurer is liable for a claim
B. It ensures that the insurer will cover all risks associated with a policy
C. It defines the scope of coverage for the policyholder
D. It outlines exclusions from coverage

Answer: A

Explanation:
A condition precedent refers to a requirement that must be met before an insurer is obligated to pay a claim.
Failure to meet this condition can result in the insurer not being liable.

NEW QUESTION # 84
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