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CII M05 - Insurance law (IL) Exam

Updated: Aug 18, 2026

Q & A: 121 Questions and Answers

M05 Braindumps VCE
  • Exam Code: M05
  • Exam Name: Insurance law (IL) Exam

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Insurance law (IL) Exam M05 exam vce dumps preparation

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CII M05 Exam Syllabus Topics:

SectionWeightObjectives
English Legal System and Basic Concepts10%- Nature and sources of law
  • 1. Common law, statute law, EU law
    • 2. Legal persons and capacity
      Law of Agency8%- Authority, duties, rights and liabilities
      • 1. Agent-principal relationship in insurance
        Formation of Insurance Contracts18%- Utmost good faith, disclosure, representation
        • 1. Insurable interest, indemnity, subrogation
          Law of Torts8%- Principles of tort liability
          • 1. Negligence, nuisance, strict liability
            Terms and Interpretation of Insurance Contracts16%- Conditions, warranties, exceptions
            • 1. Vitiating factors, construction of terms
              Legislation and Regulation14%- Consumer protection, data protection, FCA/PRA rules
              • 1. Insurance regulatory framework
                Claims and Loss Settlement14%- Notification, proof of loss, measure of indemnity
                • 1. Subrogation, contribution, proximate cause
                  Law of Contract12%- Formation of contract
                  • 1. Offer, acceptance, consideration, intention
                    • 2. Terms, breach, remedies, privity

                      CII Insurance law (IL) Sample Questions:

                      1. In the context of insurance law, who is considered a third-party claimant?

                      A) A person who suffers a loss or injury caused by the policyholder's actions
                      B) A family member of the policyholder
                      C) The policyholder who initiates a claim
                      D) An insurance broker acting on behalf of a client


                      2. Why may an insurer insert a continuing warranty into an insurance policy?

                      A) To enable an insurer to charge an additional premium if the warranty is continually breached.
                      B) To encourage good risk management by the insured throughout the policy period.
                      C) To ensure that underinsurance is avoided at all times.
                      D) To maintain the annual aggregate limit of liability throughout the policy period.


                      3. A person insures her own life under a life insurance policy but does so expressly for the benefit of another. To facilitate this, which type of arrangement is most commonly established?

                      A) Power of Attorney.
                      B) Trust.
                      C) Coinsurance.
                      D) Lien.


                      4. According to statute, a term under a consumer personal accident insurance policy may potentially be considered unfair if the insurer

                      A) imposes a premium loading.
                      B) applies a specific exclusion within the policy wording.
                      C) provides coverage that is more restrictive than that of other insurers.
                      D) requires notification of a claim within a very short time period.


                      5. Which of the following is a characteristic of a contract of insurance?

                      A) It must be written in a formal language
                      B) It involves a promise of a return on investment
                      C) It requires both parties to meet in person
                      D) It is always a contract of adhesion


                      Solutions:

                      Question # 1
                      Answer: C
                      Question # 2
                      Answer: B
                      Question # 3
                      Answer: B
                      Question # 4
                      Answer: D
                      Question # 5
                      Answer: D

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