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What type of organisation is the British Insurance Brokers' Association?
What type of organisation is the British Insurance Brokers' Association?A . A specialist regulator. B. A trade body. C. An educational body. D. A public limited company.View AnswerAnswer: B
How would an employee benefit directly from her employer's business interruption insurance if its factory was forced to close temporarily due to flood damage?
How would an employee benefit directly from her employer's business interruption insurance if its factory was forced to close temporarily due to flood damage?A . By payment of a redundancy lump sum. B. By continuation of her wages. C. By compensation for loss of bonus. D. By payment of an...
It is important to ensure the fair treatment of customers in order to comply with rules set by the
It is important to ensure the fair treatment of customers in order to comply with rules set by theA . British Insurance Brokers' Association. B. Association of British Insurers. C. Financial Conduct Authority. D. Chartered Insurance Institute.View AnswerAnswer: C
Harry owns a sports car valued at £1.000 and agrees to sell it to Ben for £500.
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 isA . unenforceable as the consideration is inadequate. B. enforceable as consideration does not need to be adequate. C. enforceable but only if...
The requirement 10 notify the fitting of a more powerful engine under a motor insurance policy is an example of a policy wording modifying the principle of
The requirement 10 notify the fitting of a more powerful engine under a motor insurance policy is an example of a policy wording modifying the principle ofA . subrogation. B. contribution. C. good faith. D. indemnity.View AnswerAnswer: C
When, if at all. must he disclose this to his insurer?
John has a whole of life policy and has recently been diagnosed with cancer. When, if at all. must he disclose this to his insurer?A . Immediately, irrespective of prognosis. B. He does not need to disclose this. C. Immediately, but only if the diagnosis is terminal. D. At the...
Insurers and intermediaries are required to adhere to solvency requirements as stipulated by the
Insurers and intermediaries are required to adhere to solvency requirements as stipulated by theA . Financial Services Compensation Scheme. B. Financial Ombudsman Service. C. Association of British Insurers. D. European Union.View AnswerAnswer: D
Which key test for money laundering is defined under the Proceeds of Crime Act 2002?
Which key test for money laundering is defined under the Proceeds of Crime Act 2002?A . Criminal record. B. Criminal lifestyle. C. Criminal possession. D. Criminal intelligence.View AnswerAnswer: B
The purpose of the EU solvency requirements for insurers and intermediaries is to
The purpose of the EU solvency requirements for insurers and intermediaries is toA . create a standard format for the presentation of accounting data. B. introduce monitoring procedures by the Prudential Regulation Authority. C. provide authorisation to transact insurance business. D. strengthen the financial security of the insurer or intermediary.View...
What insurance is she required to hold by law?
Barbara owns a factory employing 20 people. What insurance is she required to hold by law?A . Public liability insurance. B. Products liability insurance. C. Professional indemnity insurance. D. Employers' liability insurance.View AnswerAnswer: D
