A Fully Updated 2023 IF1 Exam Dumps - PDF Questions and Testing Engine
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To prepare for the CII IF1 exam, candidates are advised to study the relevant materials and resources, including textbooks, study guides, and past exam papers. Candidates may also want to consider enrolling in a preparatory course or workshop, which can provide additional guidance and support. The CII IF1 exam is a challenging and rigorous exam, but with the right preparation and dedication, candidates can successfully pass the exam and earn their certification, which can open up new opportunities for career advancement in the insurance industry.
NEW QUESTION # 21
A house slatls to have subsidence problems due to the negligence of a cable-laying company. The owner of the house claims under his household buildings insurance policy. Which principle allows the insurer to recover from the cable-laying company?
- A. Contribution.
- B. Salvage.
- C. Subrogation.
- D. Assignment.
Answer: C
NEW QUESTION # 22
Under the Insurance: Conduct of Business sourcebook (ICOBS) on product disclosure, what information about the claims-handling process must an intermediary provide to a consumer?
- A. The number of days the settlement should take.
- B. The contact details of the insurer.
- C. The contact details of the loss adjuster used by the insurer.
- D. The policy number only.
Answer: C
NEW QUESTION # 23
If an insured signs an agreement with a hold harmless clause, this may prevent the insurer from
- A. disclosing details to a third party.
- B. increasing the premium.
- C. pursuing subrogation rights.
- D. reinsuring the risk.
Answer: C
NEW QUESTION # 24
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. Immediately, but only if the diagnosis is terminal.
- C. He does not need to disclose this.
- D. At the date of the next premium payment.
Answer: C
NEW QUESTION # 25
For which professional is professional indemnity insurance compulsory by statute?
- A. A chartered surveyor. .
- B. A loss assessor.
- C. A loss adjuster,
- D. A solicitor.
Answer: D
NEW QUESTION # 26
When motor insurance is purchased directly with an insurer, what is usually the main disadvantage to the policyholder in the event of a claim compared to purchasing indirectly through a different marketing channel?
- A. There is no intermediary to provide assistance.
- B. The policy excess is higher.
- C. A courtesy car is not available.
- D. The risk of losing a no claims discount is greater.
Answer: A
NEW QUESTION # 27
John wishes to insure his friend's house. Why would an insurer refuse to provide a quotation?
- A. He does not have any subrogation rights.
- B. His name is not on the mortgage.
- C. He does not live in the house.
- D. He does not have any insurable interest.
Answer: D
NEW QUESTION # 28
A risk control survey shows that premises proposed for insurance are in close proximity to a river with a history of flooding. The underwriter will consider this fact to be a
- A. moral hazard.
- B. physical hazard.
- C. fundamental risk.
- D. pure risk.
Answer: B
NEW QUESTION # 29
How do an insurer's subrogation rights differ, if at all, between a theft policy and a personal accident policy?
- A. Subrogation rights only apply under a personal accident policy.
- B. Subrogation rights do not apply under either policy.
- C. Subrogation rights apply under both policies.
- D. Subrogation rights only apply under a theft policy.
Answer: D
NEW QUESTION # 30
The Principles for Business slate that all customers should be treated
- A. to a minimum standard.
- B. with due respect.
- C. equally.
- D. fairly.
Answer: D
NEW QUESTION # 31
Under the Consumer Rights Act 2015. a clause in a household insurance policy may be considered unfair if it
- A. causes a significant imbalance in the parties' rights and obligations arising under the contract, to the disadvantage of the insured.
- B. allows any party other than the insured to enforce the insurer's obligations under the policy.
- C. discriminates against one of the persons insured on the grounds of nationality, gender or sexual orientation only.
- D. imposes unreasonable obligations on the insurer in terms of costs or expenses that must be paid in addition to the amount of any loss.
Answer: A
NEW QUESTION # 32
Which professional body specialises in giving its members advice on the long-term management of assets and liabilities?
- A. The International Underwriting Association of London.
- B. The Lloyd's Market Association.
- C. The Institute and Faculty of Actuaries.
- D. The Chartered Institute of Loss Adjusters.
Answer: C
NEW QUESTION # 33
If a firm is said to be risk averse, this means that it
- A. arranges insurance protection wherever possible.
- B. tenders its insurance needs to the market.
- C. undertakes its own risk management research.
- D. carries its own risk wherever possible.
Answer: D
NEW QUESTION # 34
What legally recognised financial relationship must exist, between a policyholder and the items being insured, to constitute a valid household contents insurance policy?
- A. Delegated authority.
- B. Insurable interest.
- C. Risk indemnity.
- D. Vicarious liability.
Answer: B
NEW QUESTION # 35
A firm of insurance brokers holds client records on an index card system and does NOT intend to computerise this information. In what circumstances, if any, will these records be covered by the Data Protection Act 2018?
- A. Only if the records include details of race.
- B. In no circumstances.
- C. In all circumstances.
- D. Only if the records include dates of birth.
Answer: C
NEW QUESTION # 36
In the event of an insurer including an unclear clause in its household insurance policy, which statute could the policyholder rely upon if there was a contractual dispute?
- A. The Consumer Rights Act 2015.
- B. The Contracts (Rights of Third Parties) Act 1999.
- C. The Criminal Justice Act 1993.
- D. The Data Protection Act 2018.
Answer: A
NEW QUESTION # 37
To whom, if anyone, can an agent normally delegate the responsibility imposed on net under an agency agreement?
- A. To anyone able to fulfil the duties.
- B. To suitably qualified individuals only.
- C. The agent cannot delegate her responsibility.
- D. To suitably experienced individuals only.
Answer: C
NEW QUESTION # 38
The accident record for a printworks show that for every one major injury, there have been 30 minor incidents and 900 non-injury events reported. How would major work injuries be classified in relation to frequency and severity?
- A. High frequency, high severity.
- B. Low frequency, high severity.
- C. High frequency, low severity.
- D. Low frequency, low severity.
Answer: B
NEW QUESTION # 39
In order for a contract to be legally enforceable, what further action is required after offer and acceptance?
- A. Provision of written terms and conditions.
- B. Witnessing by a third party.
- C. Delivery of goods or services concerned.
- D. Exchange of consideration between the two parties.
Answer: D
NEW QUESTION # 40
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