This set of questions, courtesy of online CII training package insurance Assess
Question 1
Which management approach is the strongest example of an ethics-led organisation?
A. Delegating responsibility for monitoring ethical behaviours to a third party}
B. Developing individual responsibility and involvement by all staff
C. Establishing rules for employees to ensure they do not contravene the Ethics Code
D. Seeing ethics as good for business and a strong selling point to customers
Question 2
Ethical behaviour is a matter of:
A. Acting on a considered judgement
B. Being efficient
C. Complying with the rules
D. Juggling standards and business needs
Question 3
Many UK insurance companies were established for which purpose?
A. To make insurance available as cheaply as possible
B. To make insurance available to the wider population
C. To provide products to particular groups in society
D. To provide products to the broad population
Question 4
In most cases of private medical insurance (PMI) fraud, which of these parties often perpetrates the fraud?
A. Healthcare providers
B. PMI brokers
C.PMI customers
D. PMI insurers
Question 5
‘Tone at the top’ is generally perceived to play a major part in setting and reinforcing the ethics of a business. What is ‘tone at the top’?
A. The attitude of the relevant regulatory body
B. The attitude to employee relations shown by senior management
C. The relationship between business leaders and the government
D. The values and behaviour of the board and senior management
Question 6
Which of these statements correctly describes the role of the Insurance Fraud Enforcement Department?
A. A data sharing initiative with the UK government
B. A not for profit organisation focused on detection and prevention
C. A register of known fraudsters
D. A specialist police unit dedicated to prosecuting insurance fraudsters
Question 7
Which of these statements best describes the term contribution?
A. When there is some value in the damaged item and a financial amount is recovered from its sale
B. When someone else is to blame for the loss and it is possible to pursue them for monies paid
C. When two policies are in force for different policyholders but the same risk
D. When two polices are in force which cover the same policyholder and the same risk
Question 8
When fitted to a motorcycle, what can a telematics box be used for?
A Preventing accidents and thefts
B. Restricting who is able to ride the motorcycle
C. Monitoring speed
D. Protecting the accessories such as leathers and crash helmets from being stolen
Question 9
How is the valuables limit within a home contents policy usually expressed?
A. Either as a monetary limit only or a maximum number of claims per year
B. Either as a monetary limit or a proportion of the sum insured
C. As a proportion of the sum insured only
D. As a maximum number of claims per year
Question 10
As laid down by the Road Traffic Act, which of these is the minimum limit applicable in respect of third party death or injury claims?
A. £1m
B. £1.2m
C. £500,000
D. Unlimited
Answers
1B. Promotion of ethics is preferred to delegation, rule setting and seeing ethics as a selling point.
2A. Being compliant, efficient or coping is not of itself, an ethical behaviour.
3C. Many insurers were initially established to provide products to particular groups in society.
4A. In most cases of private medical insurance fraud fraudsters are often, but not always, healthcare providers.
5D. ‘Tone at the top’ is the example set by the leaders of the business.
6B. They are a not for profit organisation focused on detection and prevention.
7D. Contribution involves another policy being in force for the same policyholder and covering the same risk.
8C. Telematics devices do exist for motorcycles and can perform the same tasks as on cars: monitoring speed, acceleration, braking, cornering, etc.
9B. Either as a monetary limit or a proportion of the sum insured.
10D. The Road Traffic Act requires cover to be unlimited in respect of third party death or injury.
Your score
1–3 Poor
7–8 Very good
4–6 Good
9-10 Excellent
