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Download Insurance Legal and Regulatory (IF1) Exam Exam Dumps
NEW QUESTION 29
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?
- A. The member must provide the client with a copy of appropriate qualifications.
- B. The member's knowledge and expertise must be kept up to date and relevant.
- C. The member must be qualified to a minimum of the CD's diploma qualification.
- D. The member must notify the Cll of any shortcomings in his knowledge.
Answer: B
NEW QUESTION 30
Which professional body specialises in giving its members advice on the long-term management of assets and liabilities?
- A. The Lloyd's Market Association.
- B. The Institute and Faculty of Actuaries.
- C. The Chartered Institute of Loss Adjusters.
- D. The International Underwriting Association of London.
Answer: B
NEW QUESTION 31
Self-insurance arises when a
- A. policyholder decides to insure proportions of his property with different insurers.
- B. number of insurers agree to collectively insure a particular risk in agreed proportions.
- C. company decides to set aside a fund to pay losses that may occur.
- D. policyholder finds that he has inadvertently taken out more than one policy covering the same risk.
Answer: C
NEW QUESTION 32
The website of an insurer must include the company's registered name, trading address, contact details and regulator. This is in accordance with rules enforced by the
- A. Prudential Regulation Authority.
- B. Competition and Markets Authority.
- C. Financial Ombudsman Service.
- D. Advertising Standards Authority.
Answer: C
NEW QUESTION 33
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