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M05 exam is an important CII Certification which can test your professional skills. Candidates want to pass the exam successfully to prove their competence. Fast2test CII technical experts have collected and certified 121 questions and answers of Insurance Law (M05) - Insurance law (IL) Exam which are designed to cover the knowledge points of the Planning and Designing CII Superdome Server Solutions and enhance candidates' abilities. With Fast2test M05 preparation tests you can pass the Insurance Law (M05) - Insurance law (IL) Exam easily, get the CII certification and go further on CII career path.

CII M05 Exam Syllabus Topics:

SectionWeightObjectives
Claims and Loss Settlement14%- Notification, proof of loss, measure of indemnity
  • 1. Subrogation, contribution, proximate cause
    Law of Torts8%- Principles of tort liability
    • 1. Negligence, nuisance, strict liability
      Legislation and Regulation14%- Consumer protection, data protection, FCA/PRA rules
      • 1. Insurance regulatory framework
        Formation of Insurance Contracts18%- Utmost good faith, disclosure, representation
        • 1. Insurable interest, indemnity, subrogation
          Law of Contract12%- Formation of contract
          • 1. Terms, breach, remedies, privity
            • 2. Offer, acceptance, consideration, intention
              Terms and Interpretation of Insurance Contracts16%- Conditions, warranties, exceptions
              • 1. Vitiating factors, construction of terms
                Law of Agency8%- Authority, duties, rights and liabilities
                • 1. Agent-principal relationship in insurance
                  English Legal System and Basic Concepts10%- Nature and sources of law
                  • 1. Legal persons and capacity
                    • 2. Common law, statute law, EU law

                      CII Insurance law (IL) Sample Questions:

                      1. A storm blew down the wall of a limber building. The failing wall broke electrical wiring, which short- circuited and the resultant sparks caused a fire. The lire brigade used water to put out the fire and the water caused damage to the unburnt contents. What is the proximate cause of the damage to the unburnt contents?

                      A) The fire.
                      B) The water damage.
                      C) The storm.
                      D) The falling wall.


                      2. Why may an insurer insert a continuing warranty into an insurance policy?

                      A) To ensure that underinsurance is avoided at all times.
                      B) To enable an insurer to charge an additional premium if the warranty is continually breached.
                      C) To encourage good risk management by the insured throughout the policy period.
                      D) To maintain the annual aggregate limit of liability throughout the policy period.


                      3. For this question more than 1 option is correct. You must select all the correct options to gain the mark. What are the characteristics of an express term in reaching or recording an agreement?

                      A) It will usually override any implied term which conflicts with it.
                      B) It must be evidenced in documentary form.
                      C) It may be oral or in writing.
                      D) It may be implied by conduct.


                      4. Tim is a local insurance broker. He has authority to receive premiums for a personal lines insurer and earns commission from the insurer for sales. Paul, an elderly customer, asked Tim for advice regarding his personal insurance requirements and to assist with completing the proposal form for household insurance. In these circumstances, who, if anyone, is Tim's principal?

                      A) No one as Tim is not a party to the insurance contract.
                      B) Paul as it is a consumer contract.
                      C) Both the insurer and Paul at different times.
                      D) The insurer at all times.


                      5. Paul made a formal offer to John and gave hun (out weeks to accept it. Three weeks later, and before, John had responded. Paul needed to withdraw the offer. What is the position in contract law?

                      A) John can enforce the contract as the offer was formally made.
                      B) John cannot enforce the contract but is entitled to claim damages from Paul.
                      C) Paul does not have the right to withdraw the offer within the four-week period.
                      D) Paul has the right to withdraw the offer at any time before acceptance.


                      Solutions:

                      Question # 1
                      Answer: C
                      Question # 2
                      Answer: C
                      Question # 3
                      Answer: A,C
                      Question # 4
                      Answer: D
                      Question # 5
                      Answer: D

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