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Quiz M05 - Insurance law (IL) Exam Pass-Sure Reliable Test Dumps
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CII Insurance law (IL) Exam Sample Questions (Q57-Q62):
NEW QUESTION # 57
Which of the following is an essential element in the formation of an insurance contract?
- A. The payment of a premium
- B. A formal written agreement
- C. A signed declaration by the policyholder
- D. A valid claim history
Answer: A
NEW QUESTION # 58
Adam was bitten by a stray dog in Africa. He washed his wound in a pond and a week later he became very ill with a high temperature. Initially, the local hospital treated him for malaria and later treated him for the fever following the dog bite. Adam died in hospital. What is the proximate cause of his death?
- A. The delay in seeking medical treatment.
- B. The unhygienic washing of the dog bite.
- C. The original physical injury of the dog bite.
- D. The delay in obtaining the correct medical treatment.
Answer: C
NEW QUESTION # 59
What is the effect of a waiver on an insurance contract?
- A. It reduces the policyholder's obligation to make full disclosure
- B. It allows the insurer to increase the premium
- C. It terminates the policy
- D. It allows one party to ignore certain policy terms
Answer: D
Explanation:
A waiver in insurance law refers to the voluntary relinquishment of a known right, such as forgiving a breach of a condition in the policy. It doesn't cancel the contract but may alter certain terms.
NEW QUESTION # 60
In the context of insurance law, who is considered a third-party claimant?
- A. A family member of the policyholder
- B. An insurance broker acting on behalf of a client
- C. A person who suffers a loss or injury caused by the policyholder's actions
- D. The policyholder who initiates a claim
Answer: D
Explanation:
A third-party claimant is someone who is not a party to the insurance contract but claims compensation from the policyholder's insurer for losses or injuries caused by the policyholder.
NEW QUESTION # 61
What does the Consumer Insurance (Disclosure and Representations) Act 2012 require from consumers applying for insurance?
- A. Consumers must disclose all material facts honestly and accurately.
- B. Consumers are required to pay for claims made during the policy term.
- C. Consumers must choose an insurer based on premium prices alone.
- D. Consumers must answer questions about their past claims history.
Answer: A
Explanation:
Under the Consumer Insurance (Disclosure and Representations) Act 2012, consumers are required to disclose material facts that could affect the insurer's decision to provide coverage. However, unlike the previous law, it does not require consumers to disclose every fact, but only material facts.
NEW QUESTION # 62
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