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CII M05 Exam Syllabus Topics:

Section	Objectives
Topic 1: Formation of Insurance Contracts	- Core insurance principles 1. Disclosure and misrepresentation 2. Insurable interest 3. Utmost good faith
Topic 2: Insurance Contract Terms and Vitiating Factors	- Factors affecting validity 1. Misrepresentation 2. Fraud 3. Non-disclosure - Policy terms and breaches 1. Conditions 2. Warranties 3. Representations
Topic 3: Insurance Claims	- Claims process and legal principles 1. Policyholder duties 2. Claims handling 3. Claims notification
Topic 4: Subrogation and Contribution	- Recovery rights and sharing of losses 1. Contribution 2. Subrogation
Topic 5: Nature and Sources of English Law and Legal Persons	- Nature and sources of English law 1. Common law 2. Statute law 3. European and international influences - Legal personality 1. Juristic persons 2. Natural persons
Topic 6: Law of Agency and Insurance	- Agency relationships 1. Authority of agents 2. Creation of agency 3. Duties and liabilities
Topic 7: Law of Torts	- Principles of tort law 1. Trespass 2. Negligence 3. Nuisance
Topic 8: Indemnity and Loss Measurement	- Principle of indemnity 1. Valuation of loss 2. Methods of indemnification
Topic 9: Law of Contract	- Contract formation and operation 1. Offer and acceptance 2. Terms of contract 3. Breach of contract 4. Consideration

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CII Insurance law (IL) Exam Sample Questions (Q110-Q115):

NEW QUESTION # 110
When, if at all, does the duty of fair presentation of a risk apply after a non-consumer insurance contract has been formed?

A. Where there is a variation in the insured risk.
B. From the date of a breach of warranty.
C. On submission of a claim.
D. It does not apply as the duty is to take reasonable care not to make a misrepresentation.

Answer: A

NEW QUESTION # 111
Dan made a financial arrangement on behalf of Liz. However, Liz had the arrangement set aside by the court on the basis that she had been unduly influenced by Dan. To establish undue influence, the court must have specifically identified Dan as

A. Liz's husband.
B. a person holding a senior position at Liz's bank.
C. a person holding a dominant position over Liz.
D. Liz's independent financial adviser.

Answer: C

NEW QUESTION # 112
Which of the following best defines an insurance contract?

A. A contract in which one party agrees to indemnify another against specified risks in exchange for premiums.
B. A contract where the insurer assumes no liability.
C. A contract for the protection of physical property only.
D. A contract that only applies to personal property insurance.

Answer: A

Explanation:
An insurance contract is an agreement where one party (the insurer) agrees to compensate another (the policyholder) for financial losses arising from specific risks, in exchange for regular payments (premiums).

NEW QUESTION # 113
How can an agency relationship be best described?

A. A person has transferred his obligations under a contract to another party.
B. A person has ratified another party's action.
C. A person has the authority to act on behalf of another party.
D. A person, who has paid another party under a contract, has the right to stand in the place of that other party and avail himself of the rights and remedies of that party.

Answer: C

NEW QUESTION # 114
In respect of a life assurance policy, the duty to take reasonable care NOT to make a misrepresentation ends when the proposer

A. forms the contract with the insurer.
B. dies and his estate submits a claim to the insurer.
C. signs and submits the completed proposal form to the insurer.
D. assigns the contract to a third party.

Answer: A

NEW QUESTION # 115
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