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M05 Dumps - Insurance law (IL) Exam Practice Exam Questions

CII M05 - Insurance Law (M05) Practice Exam

  • Certification Provider:CII
  • Exam Code:M05
  • Exam Name:Insurance law (IL) Exam Exam
  • Total Questions:118 Questions and Answers
  • Updated on:Feb 7, 2025
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CII M05 This Week Result

M05 Question and Answers

Question # 1

For this question more than 1 option is correct. You must select all the correct options to gain the mark.

The Insurance: Conduct of Business sourcebook (ICOBS) rules in respect of claims handling specify that an insurer must

Options:

A.  

settle a claim promptly once settlement has been agreed.

B.  

handle a claims notification within 14 days.

C.  

provide reasonable guidance to an insured to help him make a claim.

D.  

not unreasonably reject an insured's claim.

Discussion 0
Question # 2

In a chain of events, the proximate cause of a loss is always the

Options:

A.  

only event contributing towards the loss.

B.  

last event before the loss occurs.

C.  

dominant event leading to the loss.

D.  

only event which is not excluded by the terms of the policy.

Discussion 0
Question # 3

Bill owned a painting which was insured under a policy containing a first refusal clause. The painting was stolen and Bill's claim was settled, but several months later the painting was recovered by the police. As a consequence, what is Bill's position under his insurance policy?

Options:

A.  

Bill may exercise an option to buy the painting back.

B.  

Bill must return the claim settlement in exchange for the painting.

C.  

Bill must buy the painting back.

D.  

Bill may keep the claim settlement and also keep the painting.

Discussion 0

PDF vs Software Version

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