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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Claims and Loss Settlement | 14% | - Notification, proof of loss, measure of indemnity
|
| Topic 2: Law of Agency | 8% | - Authority, duties, rights and liabilities
|
| Topic 3: Terms and Interpretation of Insurance Contracts | 16% | - Conditions, warranties, exceptions
|
| Topic 4: Law of Torts | 8% | - Principles of tort liability
|
| Topic 5: Law of Contract | 12% | - Formation of contract
|
| Topic 6: Legislation and Regulation | 14% | - Consumer protection, data protection, FCA/PRA rules
|
| Topic 7: English Legal System and Basic Concepts | 10% | - Nature and sources of law
|
| Topic 8: Formation of Insurance Contracts | 18% | - Utmost good faith, disclosure, representation
|
In an insurance policy arranged through an insurance broker the parties to the contract are the:
Correct Answer: B 🗳️
In the context of an insurance claim, what does the principle of subrogation refer to?
Correct Answer: B 🗳️
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At what stage is insurable interest required for a marine cargo insurance policy?
Correct Answer: C 🗳️
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
Correct Answer: A 🗳️
Under UK insurance law, which document outlines the terms of the insurance agreement between the insurer and the insured?
Correct Answer: C 🗳️
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