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E05 Vce Torrent | Test E05 Cram
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Successful completion of the CII E05 exam is a crucial step for insurance professionals who are looking to further their career in the insurance industry. E05 exam is designed to test the knowledge and understanding of individuals who are working in various roles within the insurance industry, including underwriters, claims handlers, brokers, and insurance managers.
CII E05 certification exam is designed to test the understanding of candidates in the area of insurance law. E05 exam covers key topics related to the legal aspects of insurance, such as the principles of insurance contract law, the regulation of insurance business, the legal framework for insurance intermediaries, and the legal obligations of insurance professionals. Examination element of M05 Insurance law certification is specifically designed for those who work in the insurance industry, including brokers, underwriters, claims handlers, and insurance managers.
The CII E05 Exam consists of 50 multiple-choice questions, and candidates are given two hours to complete it. To pass the examination, candidates must score a minimum of 70%. It is important to note that the E05 Certification Exam is a computer-based assessment offered by the Chartered Insurance Institute (CII), and it is available to candidates all year round.
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CII Examination element of M05 Insurance law Sample Questions (Q46-Q51):
NEW QUESTION # 46
Who is entitled to the surplus if a subrogation recovery from a negligent third party is greater than the amount the insurer has paid to the insured?
- A. The insurer only.
- B. The insured only.
- C. The State
- D. It is shared between the insurer and the insured.
Answer: B
NEW QUESTION # 47
What are the main objectives of the principle of insurable interest?
- A. To reduce moral hazard and to discourage profiteering.
- B. To reduce moral hazard and to discourage wagering.
- C. To reduce physical hazard and to discourage profiteering.
- D. To reduce physical hazard and to discourage wagering.
Answer: B
NEW QUESTION # 48
Two liability policies with different insurers cover the same loss of £15,000,000. The limit of liability is
£10,000,000 under policy X and £20,000,000 under policy Y. Neither policy has a non-contribution clause.
What amount will policy Y contribute towards the claim payment?
- A. £9,000,000
- B. £5,000,000
- C. £10,000,000
- D. £7,500,000
Answer: A
NEW QUESTION # 49
A riot results in a shop being damaged and the shopowner's insurer settling the claim. A subrogation right enabling the insurer to sue the police authority arises under
- A. a condition subsequent to liability.
- B. tort.
- C. statute.
- D. a condition precedent to liability.
Answer: C
NEW QUESTION # 50
How can an agency relationship be best described?
- A. A person has transferred his obligations under a contract to another party.
- B. A person has ratified another party's action.
- C. A person, who has paid another party under a contract, has the right to stand in the place of that other party and avail himself of the rights and remedies of that party.
- D. A person has the authority to act on behalf of another party.
Answer: D
NEW QUESTION # 51
......
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