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CII M05 Exam Syllabus Topics:

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

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CII Insurance law (IL) Exam Sample Questions (Q12-Q17):

NEW QUESTION # 12
Which of the following is an essential element in the formation of an insurance contract?

A. A valid claim history
B. The payment of a premium
C. A formal written agreement
D. A signed declaration by the policyholder

Answer: B

NEW QUESTION # 13
Which of the following statements is true regarding exclusions in an insurance policy?

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

Answer: C

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 # 14
Which of the following is considered an exclusion in a standard property insurance policy?

A. Theft by a third party
B. Damage caused by accidental breakage
C. Loss caused by a fire
D. Loss due to war or civil unrest

Answer: D

Explanation:
Many property insurance policies exclude certain high-risk events such as war, civil unrest, and terrorism.
These exclusions limit the insurer's exposure to catastrophic losses.

NEW QUESTION # 15
In tort law, when, if at all. is a minor legally responsible for his acts?

A. He is only responsible if a criminal ad has also been committed.
B. He is only responsible if he is over 14 years of age.
C. He is never responsible.
D. He is usually fully responsible.

Answer: B

Explanation:
In tort law, minors (under the age of 18) may generally be held liable for their actions, but in certain situations, the court may consider the minor's age and maturity when determining responsibility. In some jurisdictions, the age of 14 is a key threshold for liability. However, it's important to note that this can vary depending on the specifics of the case and the jurisdiction.

NEW QUESTION # 16
Which of the following is a characteristic of a contract of insurance?

A. It must be written in a formal language
B. It requires both parties to meet in person
C. It involves a promise of a return on investment
D. It is always a contract of adhesion

Answer: D

Explanation:
A contract of insurance is often considered a contract of adhesion, meaning that it is typically drafted by the insurer and accepted by the policyholder without the ability to negotiate terms.

NEW QUESTION # 17
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