IF1 PDF Dumps Real 2023 Recently Updated Questions [Q33-Q53]

QUESTION 33
Under the Consumer Rights Act 2015. a clause in a household insurance policy may be considered unfair if it

QUESTION 34
What type of organisation is the British Insurance Brokers’ Association?

QUESTION 35
A storm blew down the wall of a limber building. The failing wall broke electrical wiring, which short-circuited and the resultant sparks caused a fire. The lire brigade used water to put out the fire and the water caused damage to the unburnt contents. What is the proximate cause of the damage to the unburnt contents?

QUESTION 36
An insured is temporarily disabled due to illness and unable to work. During this period, what type of insurance policy will typically pay a weekly benefit for up to two years?

QUESTION 37
Which general rule does the Contracts (Rights of Third Parties) Act 1999 seek to modify?

QUESTION 38
Joe is a broker who has become a Fellow of the Chattered Insurance Institute. If he would like to use the title Chartered Insurance Broker, what must he do. if anything?

QUESTION 39
The purpose of Insurance Premium Tax is to

QUESTION 40
How does insurable interest arise, if at all. when an insurer arranges reinsurance?

QUESTION 41
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?

QUESTION 42
In accordance with the principle of good faith, which facts must a potential policyholder disclose to the insurer when applying for insurance?

QUESTION 43
Which principle of insurance prevents a member of the public from taking out an insurance policy on the life of a celebrity in the hope of receiving a windfall on the celebrity’s death?

QUESTION 44
Self-insurance arises when a

QUESTION 45
The principle of indemnity is the

QUESTION 46
John wishes to insure his friend’s house. Why would an insurer refuse to provide a quotation?

QUESTION 47
If an insurer invokes the cancellation clause to cancel a policy mid-year due to a change in the risk, how much of the premium, if anything, is normally returned to the policyholder?

QUESTION 48
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?

QUESTION 49
How would an insurer’s portfolio of motor claims be shown in terms of frequency and severity?

QUESTION 50
In order for a contract to be legally enforceable, what further action is required after offer and acceptance?

QUESTION 51
When completing a proposal form, Tom declares that he has two spent speeding convictions. How, if at all, will the spent convictions affect an underwriter’s decision to write the risk?

QUESTION 52
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?

QUESTION 53
Who is represented by a loss assessor?