This set of questions, courtesy of online CII training package Insurance Assess, will test your knowledge of relevant learning topics. Answers are at the bottom
Which of these items will a typical business private car policy cover?
A. The insured's stock in the insured vehicle but not in a trailer
B. The insured's stock in a specified trailer while attached to the insured vehicle
C. Visual entertainment and navigational equipment fitted to the vehicle
D. The insured's tools in the insured vehicle but not in a trailer
Driving without insurance can be most accurately described as which of these?
A. A criminal offence
B. A negligent act
C. A nuisance
D. A tort
All firms that sell travel insurance must apply for authorisation from which of these bodies?
A. Association of British Travel Agents (ABTA)
B. British Association of Insurance Brokers (BIBA)
C. Financial Conduct Authority (FCA)
D. Prudential Regulatory Authority (PRA)
Which of these torts is most closely associated with pollution actions?
Which of these is the main cause of losses from wind farms?
A. Bird strikes
B. Damage to the cables linking the farm to the shore
C. Rust, oxidisation and discolouration from sea waves
D. Third party damage caused by blades falling off pylons
Which of these is the most significant global market for energy risks?
Which of these is not a potential cause of data loss?
A. Copyright infringement
B. Network security breach/hacking
C. Unauthorised use of the computer system
D. Human error – lost laptops, memory sticks and discs, etc.
Which two insurance principles ensure that the principle of indemnity is maintained?
A. Utmost good faith and proximate cause
B. Insurable interest and indemnity
C. Subrogation and contribution
D. Proximate cause and contribution
Many simple cyber risk policies are rated on which one piece of information?
A. Number of employees
C. Number of personally identifiable information records held
D. Replacement value of system
Which of these statements explains why older cars are more susceptible to theft?
A. Levels of security are generally poorer on older cars
B. Older cars are more susceptible to ‘keyless’ theft
C. Older vehicles are more attractive to thieves
D. There is a greater demand for parts for older cars
1C. Third party, fire and theft and comprehensive policies will have as standard cover for audio, telephone, visual entertainment and navigational equipment fitted to the vehicle, but with possible monetary limits.
2A. It is a criminal offence to drive without valid insurance.
3C. All firms that sell insurance (including travel insurance) must apply for authorisation from the Financial Conduct Authority.
4C. Most pollution incidents are of a gradual nature, occurring over a period of time. Nuisance is more relevant than negligence, which is more about one-off errors.
5B. The main cause of losses from windfarms is cable damage. They make up 70% of all losses.
6D. Significant global markets for energy risks include Lloyd's syndicates and insurance companies underwriting in London, writing the biggest share of the energy business at over 50% of all risks.
7A. Copyright infringement is a potential cause of a third party multimedia liability claim, but not of data loss.
8C. Subrogation and contribution are described frequently as corollaries of indemnity. 9B. Turnover.
10A. Older cars do not have the same level of security as modern cars and are therefore more vulnerable to ‘low-tech’ thefts.