IF2 General Insurance Business. Mock Exam Questions. Taster Set. Examinable Year: 2013/14. B r a n d F in a n c i a l T r a i n i n g,

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1 IF2 General Insurance usiness Mock Exam Questions Taster Set Examinable Year: 2013/14 Valid for Examination Dates from: 1 September Document last updated: 24 July 2013 Filename: IF2MockTaster r a n d F in a n c i a l T r a i n i n g,

2 The CII examinable year is currently 1 September 2013 to 31 December rand Financial Training is an independent company and has no connection with the Chartered Insurance Institute (CII) or the Institute of Financial Services (IFS). The copyright of all documentation (including electronic documentation) belongs to rand Financial Training. Under no circumstances should documentation be copied, summarised or reproduced by any means without the written express permission of the copyright owner. Should any illegal use of any materials be discovered, legal actions may be instigated against the offender(s). The documentation could include inaccuracies or typographical errors and is in no way intended to be an official representation of the CII or IFS examinations. rand Financial Training may make improvements and/or changes to documentation at any time without notice. Whilst rand Financial Training makes every effort to ensure that all information (written and verbal) provided is accurate and correct at the time, no liability for any claims in relation to loss of business or consequential damage incurred by a customer as a result of using or relying on the information will be accepted. rand Financial Training shall not accept responsibility for loss or damage, whether direct, indirect, incidental or consequential in connection with or arising from your use of or any information provided by or omitted by rand Financial Training. Page 2 of 10 IF2MockTaster

3 IMPORTANT INFORMATION This Mock Exam paper is designed as a taster version, to give you an example of what you can expect if you go on to purchase the other available Mock papers. Although it follows the format of the full version, the questions may not be as in-depth as those given in the full exam and therefore will not score as many marks or take the same amount of time to answer. Nevertheless, the questions are in the same style / format as those in the actual exam and other Mock papers and are accompanied by full answers. Page 3 of 10 IF2MockTaster

4 IF2 Examination Information The examination consists of 100 multiple choice questions (MCQs). 2 hours are allowed for this examination. Unless otherwise stated, candidates will be examined on the basis of English law and practice. A multiple choice question consists of a problem followed by four options, labelled A,, C and D. Each question will contain only one correct or best response to the problem. A correct response is awarded one mark. No marks are deducted for an incorrect response. Page 4 of 10 IF2MockTaster

5 1. Under the Road Traffic Act, what is the minimum indemnity that must be provided for damage to third party property? a. 10,000,000 b. 1,000,000 c. 1,000,000 d. 10,000, Jack would like to arrange cover in case he becomes disabled due to illness. Which kind of insurance should he take out? a. Medical expenses insurance b. Sickness insurance c. Personal accident insurance d. Life assurance 3. A yearly benefit which can be payable in the event of permanent total disablement, under a Personal Accident policy is: a. A deductible b. An annuity c. A franchise d. An excess 4. What kind of risks do insurers favour for inclusion in a package policy? a. Dissimilar risks b. Homogenous risks c. Habitual risks d. Unfamiliar risks 5. This is not a social peril: a. Malicious acts b. Storm c. Riot d. Civil commotion 6. "All risks" policies provide cover against: a. Every risk b. A broad range of risks c. Risks occurring on the insured's premises only d. A range of risks requested by the policyholder Page 5 of 10 IF2MockTaster

6 7. Turnover is defined as: a. Total income arising from business activities b. Total profit c. Total fixed charges d. Total variable charges 8. How are most Employers Liability policies rated? a. y statutory regulations b. y precautions c. y ages d. y wages 9. Extended warranty insurance offers: a. Cover for negligent handling b. An extension to a manufacturer's own guarantee c. Cover for risks falling under a household contents policy d. Cover for repairs to external wires 10. Risk control advice is commonly offered as part of the service provided by: a. Claims handlers b. Independent intermediaries c. Helpline advisers d. Loss assessors 11. What is a proposal form? a. A questionnaire b. A quote request c. A certificate d. A schedule 12. Under FCA rules intermediaries must provide information to clients: a. In a letter b. In a durable medium c. Orally, in person d. y telephone Page 6 of 10 IF2MockTaster

7 13. Within how many days of commencement of cover must an intermediary provide a commercial client with a policy document? a. 14 days b. 10 days c. 30 days d. 20 days 14. Which part of a policy document specifies what is covered by the policy? a. The operative clauses b. The operational clauses c. The recital clause d. The final clauses 15. The contribution condition is usually only found in which type of policy? a. enefit b. Indemnity c. Mutual d. Reinsurance 16. An illegal contract will make a policy: a. Corrupt b. Actionable c. Voidable d. Void 17. If an insurer wishes to decline a claim due to an exclusion in the policy, who must prove that the exclusion applies? a. The insured b. A lawyer c. The broker d. The insurer 18. A loss adjuster: a. Is independent b. Is paid by the insured c. Is working on behalf of the insurer d. Accepts instruction from members of the public Page 7 of 10 IF2MockTaster

8 19. Which of these is not a computer operating system? a. Linux b. Windows c. MAC OS d. GUI 20. Which standards allow a company to compare its performance with its competitors? a. Imperial standards b. Internal standards c. Innovational standards d. Industry standards Page 8 of 10 IF2MockTaster

Answers Alongside each answer, you will find a cross-reference to the relevant Chapter and Section in the most up-to-date version of the CII study text. Q. Answer Chapter Section 1. 2. 3. 4. 5. 6. 7.

9 Answers Alongside each answer, you will find a cross-reference to the relevant Chapter and Section in the most up-to-date version of the CII study text. Q. Answer Chapter Section C A D A C A D D A D D A2A A2 A2A C1 A2 1 1A A4 G1 C C C1A G1 A4 C1 F2A A C3 A3 A6 Page 9 of 10 IF2MockTaster

These are written by rand Financial Training in the same style as the CII 's papers, but they are not duplicates of the CII 's mock papers.

10 Your Essential Resources for the CII IF2 Exam For I F2 there are mock exam papers and a 'pass exams easily' revision kit. IF2 Mock Exam Questions Free mock questions plus 3 full sets of 100 questions to purchase. Our answers include cross references to the CII study text. These are written by rand Financial Training in the same style as the CII 's papers, but they are not duplicates of the CII 's mock papers. " I t w a s h a r d f o r m e t o c o m m it m y s e lf t o s t a r t s t u d y i n g a g a in a s I a m a f u l l t im e m u m o f t w o u n d e r 5. H o w e v e r, I t o o k t h e c h a l le n g e a n d d e c ide d t o g o f o r it. I w a s lo o k in g f o r p a s t p a p e r s a n d t h a t ' s w h e n I c a m e a c r o s s t h e m o c k e x a m s t h r o u g h t h e r a n d F i n a n c i a l T r a in i n g w e b s it e. A f t e r d o i n g t h e m o v e r a n d o v e r a g a i n I w a s a b le t o r e v i s e t h e a r e a s I w a s w e a k i n. I t g a v e m e c o n f i d e n c e a n d I w a s r e a d y f o r t h e e x a m s. I f I d i d n ' t d o t h e s e p a p e r s I w o u l d h a v e b e e n a n e r v o u s w r e c k! I g u e s s I o w e a b ig t h a n k y o u t o r a n d F in a n c ia l T r a i n ing. " Sh a l i n i D e v a r a j a n, I p s w i c h ( t a l k i n g a b o u t I F 1 ) Pass Exams Easily Our 'Pass Exams Easily' kit written by Genius Material shows you - step by step - exactly how to revise. It includes ebook, video and audio MP3. Suitable for all exams you can download the taster e-book to try it out. How Do I Find Out More? Go straight to Don t forget to claim your free tasters too! Page 10 of 10 IF2MockTaster

Claims Practice. Handling and Settlement

Claims Practice. Handling and Settlement Claims Practice Handling and Settlement Topic Objectives Contents 6. Handling Personal Lines Claims Explain the impact of regulatory requirements on handling personal lines claims Explain the typical personal