New 2023 IF1 Dumps for Certificate in Insurance Certified Exam Questions and Answer
Realistic Verified IF1 exam dumps Q&As - IF1 Free Update
NEW QUESTION 32
In a chain of events, the proximate cause of a loss is always the
- A. only event contributing towards the loss.
- B. only event which is not excluded by the terms of the policy.
- C. dominant event leading to the loss.
- D. last event before the loss occurs.
Answer: C
NEW QUESTION 33
How is Insurance Premium Tax collected within the UK?
- A. By the insurer on the whole general and life accounts.
- B. By HM Revenue & Customs on the whole general account.
- C. By the insurer on individual insurance contracts.
- D. By HM Revenue & Customs on individual insurance contracts.
Answer: A
NEW QUESTION 34
The purpose of Insurance Premium Tax is to
- A. fund the Association of British Insurers.
- B. pay for flood defences.
- C. reimburse for claims of insolvent insurers
- D. raise revenue for the Government.
Answer: D
NEW QUESTION 35
Under common law. when does the insured's duly of fair presentation cease with regard to declarations that do NOT affect policy cover?
- A. At renewal.
- B. When a claim is submitted.
- C. When the policy contract lakes effect.
- D. When a claim is paid.
Answer: A
NEW QUESTION 36
Under the Consumer Rights Act 2015. a clause in a household insurance policy may be considered unfair if it
- A. discriminates against one of the persons insured on the grounds of nationality, gender or sexual orientation only.
- B. allows any party other than the insured to enforce the insurer's obligations under the policy.
- C. imposes unreasonable obligations on the insurer in terms of costs or expenses that must be paid in addition to the amount of any loss.
- D. causes a significant imbalance in the parties' rights and obligations arising under the contract, to the disadvantage of the insured.
Answer: D
NEW QUESTION 37
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 apply under both policies.
- C. Subrogation rights only apply under a theft policy.
- D. Subrogation rights do not apply under either policy.
Answer: C
NEW QUESTION 38
Julie has cancelled her trip to tlaly as she has broken her leg. Which type of insurance policy is specifically designed to compensate Julie for any cancellation charges she has incurred?
- A. A personal accident and sickness insurance policy.
- B. An income protection insurance policy.
- C. A money insurance policy.
- D. A travel insurance policy.
Answer: D
NEW QUESTION 39
Who cedes business to a reinsurer?
- A. The insurer.
- B. The agent.
- C. The insured.
- D. The assessor.
Answer: A
NEW QUESTION 40
When should a direct insurer advise a policyholder in writing of its complaints-handling procedure, to comply with regulatory requirements?
- A. At the lime of a claim.
- B. Within 7 days of a complaint being made.
- C. Within 30 days of cover being incepted.
- D. At the time of the sale or immediately afterwards.
Answer: D
NEW QUESTION 41
In accordance with the principle of good faith, which facts must a potential policyholder disclose to the insurer when applying for insurance?
- A. Only those facts considered likely to reduce the cost of cover
- B. Any facts which are in the public domain.
- C. Any facts which are considered material to the risk.
- D. Any facts of law.
Answer: C
NEW QUESTION 42
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
- A. contribution.
- B. indemnity.
- C. subrogation.
- D. good faith.
Answer: B
NEW QUESTION 43
Joel buys a house in a flood plain, but it has NOT flooded for 10 years. In purchasing insurance, Joel is managing what element of risk?
- A. Statutory requirements.
- B. Uncertainty.
- C. Frequency.
- D. Certainty.
Answer: B
NEW QUESTION 44
An intermediary needs to place a large properly risk, however the insurance company can only write 25% of the risk. What type of insurance arrangement would the intermediary require to complete the risk?
- A. Self-insurance.
- B. Coinsurance.
- C. Dual insurance.
- D. Reinsurance.
Answer: B
NEW QUESTION 45
A broker collects premiums on behalf of an insurer and subsequently goes into liquidation. Various premiums are outstanding to the insurer, despite policyholders having paid the broker What action is the insurer most likely to take?
- A. Cancel the policies from inception for non-payment.
- B. Offer a discounted premium payment to the policyholders.
- C. Write to the liquidator to register the debt.
- D. Apply for a second payment from the policyholders.
Answer: C
NEW QUESTION 46
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. Only if the records include dates of birth.
- D. In all circumstances.
Answer: D
NEW QUESTION 47
The Principles for Business slate that all customers should be treated
- A. to a minimum standard.
- B. with due respect.
- C. fairly.
- D. equally.
Answer: C
NEW QUESTION 48
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. pure risk.
- D. fundamental risk.
Answer: B
NEW QUESTION 49
......
Use Real IF1 Dumps - 100% Free IF1 Exam Dumps: https://www.examprepaway.com/CII/braindumps.IF1.ete.file.html
IF1 Exam Dumps, Test Engine Practice Test Questions: https://drive.google.com/open?id=1Ltujx6yHXhHH-K3cpAf0knOX9iMtRJ80