[Jun-2022] Free IF1 Exam Dumps to Improve Exam Score [Q46-Q65]

NO.46 Which distribution channel for household insurance is typically characterised by high advertising and promotional costs, with no payment of commission?

NO.47 John wishes to insure his friend’s house. Why would an insurer refuse to provide a quotation?

NO.48 Joe is a broker who has become a Fellow of the Chattered Insurance Institute. If he would like to use the title Chartered Insurance Broker, what must he do. if anything?

NO.49 If a surveyor is sent lo survey a risk, what does risk primarily refer to in this context?

NO.50 When should a direct insurer advise a policyholder in writing of its complaints-handling procedure, to comply with regulatory requirements?

NO.51 When a member of the Chartered Insurance Institute (CM) is dealing with a client, what specific guidance does the Code of Ethics give in relation to the member’s knowledge and expertise?

NO.52 Harry owns a sports car valued at £1.000 and agrees to sell it to Ben for £500. Ben discusses this with his solicitor who states the contract is

NO.53 In the event of an insurer including an unclear clause in its household insurance policy, which statute could the policyholder rely upon if there was a contractual dispute?

NO.54 If the amount to be paid in the event of a total loss of insured property is agreed between the proposer and the insurer at inception of the policy, this is a modification of the principle of

NO.55 In accordance with the principle of good faith, which facts must a potential policyholder disclose to the insurer when applying for insurance?

NO.56 Reinsurance is usually purchased by the

NO.57 A Terms of Business Agreement between an insurer and an intermediary sets out the

NO.58 The purpose of the EU solvency requirements for insurers and intermediaries is to

NO.59 Which typo of insurer is owned by multiple policyholders?

NO.60 To whom, if anyone, can an agent normally delegate the responsibility imposed on net under an agency agreement?

NO.61 Alex decides to insure his factory. In doing this he is primarily

NO.62 John and his wife arrange a household contents insurance policy in joint names with insurer A for a sum insured of £10,000. His wife arranges a second policy on the same basis with insurer B for a sum insured of
£20,000. Both policies have identical terms and conditions. What is insurer A’s liability if a valid claim of
£3,000 is subsequently made?

NO.63 What legally recognised financial relationship must exist, between a policyholder and the items being insured, to constitute a valid household contents insurance policy?

NO.64 Bye-laws are passed at the Lloyd’s Market by the

NO.65 An intermediary needs to place a large properly risk, however the insurance company can only write 25% of the risk. What type of insurance arrangement would the intermediary require to complete the risk?