Question and Answer (Q&A)

This set of questions, courtesy of online CII training package Insurance Assess, will test your knowledge of topics. The answers are at the bottom...

A - Catastrophe excess of loss B - Facultative C - Quota share treaty D - Surplus treaty Answer: B: Facultative reinsurance. The market then developed

A - Confirming who has written the policy B - Outlining what is covered C - Personalising the contract D - Showing what risks are excluded Answer:

A - A specified ‘cooling-off’ period before the issue of cover during which the proposer can change their mind B - A specified number of days into the

A - The act of investing money in a manner to avoid taxation B - The act of investing money overseas to avoid UK duty C - The process by which criminals

A - An employee to a fellow employee who might be harmed by their actions B - Any employee who has signed a contract of employment to their employer C -

A - £10,000 B - £40,000 C - £8,000 D - £2,000 Answer: D: The chargeable gain is £10,000 being the maturity value of £40,000 less the single premium of

A - An option. B - A contract for difference. C - A warrant. D - A futures contract. Answer: B: A spread bet is a form of contract for

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

A - On an any one incident basis B - On an aggregate basis for all incidents within a defined war zone C - On an aggregate basis for all incidents within