PDF Version DemoCII M05 Exam Overview:
| Certification Vendor: | Chartered Insurance Institute (CII) |
|---|---|
| Exam Name: | Insurance Law (IL) |
| Exam Number: | M05 |
| Related Certifications: | Diploma in Insurance |
| Real Exam Qty: | 50 |
| Available Languages: | English |
| Exam Format: | Coursework Assignment (10 compulsory short-answer questions), 10 Multiple Response Questions, 40 Multiple Choice Questions (MCQ) |
| Exam Duration: | 60 minutes |
| Passing Score: | 65% |
| Sample Questions: | CII M05 Sample Questions |
| Exam Way: | Computer-based online examination and coursework assessment through CII RevisionMate; available year-round at approved test centres or remote locations where permitted. |
| Pre Condition: | No mandatory prerequisites. Recommended for candidates pursuing the CII Diploma in Insurance. |
| Official Syllabus URL: | https://www.cii.co.uk/learning/qualifications/unit-insurance-law-m05/ |
CII M05 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Insurance Claims | - Claims process and legal principles
|
| Topic 2: Law of Torts | - Principles of tort law
|
| Topic 3: Indemnity and Loss Measurement | - Principle of indemnity
|
| Topic 4: Law of Agency and Insurance | - Agency relationships
|
| Topic 5: Formation of Insurance Contracts | - Core insurance principles
|
| Topic 6: Subrogation and Contribution | - Recovery rights and sharing of losses
|
| Topic 7: Nature and Sources of English Law and Legal Persons | - Nature and sources of English law
|
| Topic 8: Law of Contract | - Contract formation and operation
|
| Topic 9: Insurance Contract Terms and Vitiating Factors | - Factors affecting validity
|
CII Insurance law (IL) Sample Questions:
Question #1
Which of the following is an example of a condition precedent in an insurance contract?
A. The insurer's requirement to pay claims within a specific period after notification
B. The insured's duty to disclose any material changes in their circumstances
C. A policyholder's obligation to make premium payments
D. A policyholder's agreement to not engage in fraudulent behavior
Question #2
Why may an insurer insert a continuing warranty into an insurance policy?
A. To maintain the annual aggregate limit of liability throughout the policy period.
B. To enable an insurer to charge an additional premium if the warranty is continually breached.
C. To ensure that underinsurance is avoided at all times.
D. To encourage good risk management by the insured throughout the policy period.
Question #3
What is the effect of a waiver on an insurance contract?
A. It allows the insurer to increase the premium
B. It allows one party to ignore certain policy terms
C. It terminates the policy
D. It reduces the policyholder's obligation to make full disclosure
Question #4
For this question more than 1 option is correct. You must select all the correct options to gain the mark. What are the characteristics of a corporation aggregate?
A. It is a legal person representing one official position.
B. It is answerable to its shareholders or members.
C. It is not treated as a separate legal entity.
D. It is an organisation with a separate legal existence to its membership.
Question #5
Which of the following is a key principle of insurance law that requires the insured to disclose all material facts?
A. Indemnity
B. Utmost good faith
C. Subrogation
D. Contribution
Solutions:
| Question #1 Correct Answer: B | Question #2 Correct Answer: D | Question #3 Correct Answer: B | Question #4 Correct Answer: B,D | Question #5 Correct Answer: B |
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