M05 Exam Tutorials | M05 Valid Exam Cram

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CII M05 Exam Syllabus Topics:

SectionWeightObjectives
Claims and Loss Settlement14%- Notification, proof of loss, measure of indemnity
  • 1. Subrogation, contribution, proximate cause
    Legislation and Regulation14%- Consumer protection, data protection, FCA/PRA rules
    • 1. Insurance regulatory framework
      English Legal System and Basic Concepts10%- Nature and sources of law
      • 1. Common law, statute law, EU law
        • 2. Legal persons and capacity
          Terms and Interpretation of Insurance Contracts16%- Conditions, warranties, exceptions
          • 1. Vitiating factors, construction of terms
            Law of Agency8%- Authority, duties, rights and liabilities
            • 1. Agent-principal relationship in insurance
              Formation of Insurance Contracts18%- Utmost good faith, disclosure, representation
              • 1. Insurable interest, indemnity, subrogation
                Law of Contract12%- Formation of contract
                • 1. Terms, breach, remedies, privity
                  • 2. Offer, acceptance, consideration, intention
                    Law of Torts8%- Principles of tort liability
                    • 1. Negligence, nuisance, strict liability

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                      CII Insurance law (IL) Exam Sample Questions (Q10-Q15):

                      NEW QUESTION # 10
                      For this question more than 1 option is correct. You must select all the correct options to gain the mark. How may double insurance arise?

                      Answer: B,C


                      NEW QUESTION # 11
                      Under insurance law, what is the effect of a fraudulent claim on an insurance policy?

                      Answer: A


                      NEW QUESTION # 12
                      Within what time period, from the date when the damage first began, does the owner of an office block have a right to sue the builder for negligent construction work?

                      Answer: B


                      NEW QUESTION # 13
                      What is the role of the Financial Ombudsman Service (FOS) in insurance disputes?

                      Answer: B

                      Explanation:
                      The Financial Ombudsman Service (FOS) is an independent body that helps consumers resolve disputes with financial services, including insurance companies. It provides a neutral mechanism for dispute resolution.


                      NEW QUESTION # 14
                      Which of the following is not a typical requirement for the formation of an insurance contract?

                      Answer: B

                      Explanation:
                      The disclosure of a medical history
                      Explanation: While disclosure of material facts, such as medical history, is crucial under the principle of utmost good faith, it isnotarequirementfor the formation of an insurance contract. The core requirements are an offer, acceptance, and consideration (premium).


                      NEW QUESTION # 15
                      ......

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