Which of the following is a requirement for a client to be treated as a professional client?
A – It is essential that no advice is given. It is essential that no advice is given.
B – The client refuses to disclose information to you.
C – The client must confirm their agreement in writing.
D – The professional client basis will apply to all new investment business.
C: A professional client must confirm their status in writing
Where war risks cover is purchased as part of aircraft insurance, on what basis will liability coverage for war risks apply?
D: Liability coverage for war risks will be on an aggregate basis for all aircraft insured under the policy.
C: To avoid all possible conflicts of interest a broker should not be appointed a trustee of their client’s policy.
Which of these insurances indemnifies the insured against the costs of repairing or replacing a defective product that has been supplied by the insured?
D: Product guarantee insurance pays for the cost of repairing/replacing the defective products supplied by the insured. Product recall and financial loss insurance can be arranged under a combined policy with product guarantee.