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CII M05 Exam Syllabus Topics:

Section	Weight	Objectives
Claims and Loss Settlement	14%	- Notification, proof of loss, measure of indemnity 1. Subrogation, contribution, proximate cause
Law of Contract	12%	- Formation of contract 1. Offer, acceptance, consideration, intention 2. Terms, breach, remedies, privity
English Legal System and Basic Concepts	10%	- Nature and sources of law 1. Common law, statute law, EU law 2. Legal persons and capacity
Terms and Interpretation of Insurance Contracts	16%	- Conditions, warranties, exceptions 1. Vitiating factors, construction of terms
Formation of Insurance Contracts	18%	- Utmost good faith, disclosure, representation 1. Insurable interest, indemnity, subrogation
Legislation and Regulation	14%	- Consumer protection, data protection, FCA/PRA rules 1. Insurance regulatory framework
Law of Agency	8%	- Authority, duties, rights and liabilities 1. Agent-principal relationship in insurance
Law of Torts	8%	- Principles of tort liability 1. Negligence, nuisance, strict liability

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CII Insurance law (IL) Exam Sample Questions (Q15-Q20):

NEW QUESTION # 15
Which of the following is a typical remedy for an insurer when the insured breaches a warranty?

A. The insurer may cancel the contract or refuse to pay a claim
B. The insurer can sue the insured for breach of contract
C. The insurer is obligated to reduce the payout amount based on the breach
D. The insurer must continue to provide coverage, but with an increased premium

Answer: A

Explanation:
A breach of a warranty is considered a serious violation in an insurance contract, and the insurer may have the right to cancel the contract or refuse to pay a claim based on the breach.

NEW QUESTION # 16
Exemplary damages are intended to:

A. punish the defendant for his conduct
B. show that the defendant has aggravated Ihe injury suffered
C. award nominal compensation to the claimant
D. record the court's disapproval of the claimant's conduct

Answer: A

Explanation:
Exemplary damages (also known as punitive damages) are awarded not to compensate the claimant, but to punish the defendant for particularly outrageous or egregious conduct and to deter others from similar behavior. These damages go beyond simple compensation and focus on penalizing the defendant for their actions.

NEW QUESTION # 17
A warranty in Emily's personal travel insurance policy states that cash must be kept in a locked safe. Whilst on holiday, a storm destroys her hotel and its contents. When Emily completes a claim form for loss of money, she admits that her cash was NOT locked in the safe. What will be the insurer's likely response to her claim for the lost money?

A. Reject the claim for breach of warranty.
B. Make an ex-gratia payment.
C. Avoid the policy ab initio.
D. Pay the claim in full.

Answer: D

NEW QUESTION # 18
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?

A. The inadvertent non-cancellation of a policy when a new policy is taken out.
B. A deliberate attempt to obtain the proceeds of two policies.
C. A merger between two major insurance companies.
D. An overlap in cover between two different types of insurance policy.

Answer: B,D

NEW QUESTION # 19
When, if at all, does the duty of fair presentation of a risk apply after a non-consumer insurance contract has been formed?

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

Answer: B

NEW QUESTION # 20
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