Buy Latest Nov 14, 2023 IF1 Exam Q&A PDF – One Year Free Update [Q48-Q67]

NO.48 Self-insurance arises when a

NO.49 Which key test for money laundering is defined under the Proceeds of Crime Act 2002?

NO.50 A survey of a car repairers reveals a spray booth exists by an unguarded paraffin space beater. Also, a day’s supply of paint is kept within the building and waste is removed daily from a metal bin. What will the underwriter perceive as the main physical hazard?

NO.51 John wishes to insure his friend’s house. Why would an insurer refuse to provide a quotation?

NO.52 If the amount to be paid in the event of a total loss of insured property is agreed between the proposer and the insurer at inception of the policy, this is a modification of the principle of

NO.53 Who can place business directly with a Lloyd’s underwriter?

NO.54 The purpose of the EU solvency requirements for insurers and intermediaries is to

NO.55 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 is

NO.56 Sunita suffers a loss and makes a claim under her household contents insurance policy. When must insurable interest exist for her claim to be valid?

NO.57 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?

NO.58 In order for a contract to be legally enforceable, what further action is required after offer and acceptance?

NO.59 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

NO.60 The Financial Services Compensation Scheme was established to help policyholders in the event of

NO.61 What is the principal reason for which a proposer is asked by the insurer whether his car will be driven by anyone else?

NO.62 What is the legal standing of the Charioted Insurance Institute’s Code of Ethics?

NO.63 Bye-laws are passed at the Lloyd’s Market by the

NO.64 Lloyd’s is known as a subscription market because

NO.65 In a chain of events, the proximate cause of a loss is always the

NO.66 If a surveyor is sent lo survey a risk, what does risk primarily refer to in this context?

NO.67 The main purpose of the fair treatment of customers initiative is to